Logo myautomagazin.com

Online Trading Is The Future When It Comes To Buying New Cars

Table of contents:

Online Trading Is The Future When It Comes To Buying New Cars
Online Trading Is The Future When It Comes To Buying New Cars

Video: Online Trading Is The Future When It Comes To Buying New Cars

Video: Online Trading Is The Future When It Comes To Buying New Cars
Video: I Let Reddit Trade $10,000 In Stocks For Me For 1 Week (and this is how much money they made!) 2023, May

Almost everyone interested in buying a new car uses the Internet for information. But how many customers also buy their vehicle online? A study by the management consultancy Roland Berger looked into these and other questions.

The internet is putting pressure on retail. Because buying online is becoming increasingly popular - even when it comes to cars. The positive experiences that customers have with online purchases are also increasingly being transferred to car purchases, as the study "Online Sales Of New Cars" by the management consultancy Roland Berger shows.

According to this, 97 percent of new car buyers use the Internet to search for a new vehicle. In addition, 44 percent of those surveyed would be willing to buy an attractive offer online. “In fact, online processes are already decisively involved in every tenth new car purchase. The volume for online car purchases will double in the next five years, "says Philipp Grosse Kleimann, partner at Roland Berger. As the automotive expert notes, the potential of the internet for car purchases means that new providers are constantly pushing into the market This would result in new challenges for car manufacturers and dealers.

Four groups of providers

The study divides the Internet providers into four groups, with customers there are two. On the supply side, there are price comparison portals, brokers, specialist providers in the leasing business as well as manufacturers and their authorized dealers who use the Internet as a multi-sales channel in addition to traditional car sales at the dealership. On the one hand, these groups appeal to well-informed customers who are looking for the cheapest price online. "According to our survey, around 55 percent of online buyers still belong to this group. Most online providers have so far concentrated on these customers," says Grosse Kleimann.

There are also the "multi-channel customers", for whom, in addition to a good price, convenience is most important when buying a car online. This clientele is then also willing to pay higher prices for a corresponding added value. "The share of comfort-oriented multi-channel customers in the new car online market is currently around 45 percent and will grow significantly in the future," says Grosse Kleimann. "That is why we are also observing a reorientation of providers towards the needs of this customer group."

Problems with multi-channel customers

According to the study, the providers on the market are currently finding it difficult to "optimally adapt their offerings to service-oriented multi-channel customers." According to the study, the reason for this is that traditional providers have not yet succeeded in Guiding the customer through the buying process without any problems. "Often the 'customer's shopping journey' is interrupted by non-integrated solutions or a missing link between the online and offline world," says Grosse Kleimann.

Start-ups from the USA are currently increasingly taking advantage of this fact. With their offer they address price and service-oriented customers who offer customers an all-round service. As Grosse-Kleinmann states, traditional market participants should therefore think about how they can expand their business model in the online direction. "Because the future also belongs to online trading when it comes to buying new cars," says Grosse Kleimann. (AG / FM)

Popular by topic