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CONSUMER SATISFACTION

HIGH ON DIGITAL

BY USED CAR NEWS STAFF

Consumer satisfaction hit an all-time line, that’s exactly what they are getting. Sixty-one percent of franchised dealers
high, according to the new Digitization And it is not just consumers who are ben- note that digital retailing efforts are al-
of End-to-End Retailing (DoEER) study efiting. Dealers, too, are seeing the ad- lowing them to spend less time on a sale;
by Cox Automotive. vantages of a more efficient, streamlined more than half believe it helps them im-
purchasing process.” prove the customer experience. Impor-
With buyers spending less time at dealer- tantly, 75 percent of dealers agree that
ships and benefiting from more efficient, The Cox DoEER study was undertaken digital retailing provides shoppers a more
digital retailing processes, those who to measure and understand the shifts in customized experience, a key to higher
were “highly satisfied” with the overall consumer preference toward a more on- satisfaction with the shopping process.
shopping experience reached 72 percent, line purchase process. Beginning in Au-
up from 60 percent in 2019. The average gust 2020, a total of 1,859 purchase in- In 2017, research by Cox Automotive
vehicle buyer now visits only two dealer- tenders were interviewed, along with 462 showed that 25 percent of buyers want-
ships in the vehicle buying process, down franchised auto dealers that offer digital ed to finalize the vehicle price online. By
from 2.7 in 2016. retailing tools. 2020, that number had jumped to near
40 percent. Dealers are taking notice: 80
“According to our data, car buyers have According to the study, 64 percent of percent of franchised dealers surveyed
never been happier,” notes Cox Automo- shoppers want more of the purchase pro- in the DoEER study indicated they plan
tive vice president of research & market cess to happen online, compared to the to offer even more parts of the purchase
intelligence Isabelle Helms. “Consumers last time they bought a vehicle. But con- process online in the next 1-2 years. n
have long asked for a process that is more sumers are not the only ones that see the
efficient and requires less time at the appeal – and the benefit – of the shift to
dealership. With more steps moving on- digital retailing.

THE VIRGINIA INDEPENDENT NEWS | Q1 2021 | 3