THE typical online car buyer in 2019 is aged 36 and just over half of buyers complete the online transaction outside business hours.
That’s among the findings of automotive digital services provider GForces, which will be presenting a workshop at CDX at Farnborough International tomorrow on why end-to-end online retailing should be the next step for dealerships.
With more than 200 manufacturer-owned, franchise and independent dealerships now using its NetDirector® Auto-e platform, GForces says it is in a unique position to understand how ecommerce is transforming the motor retail sector to meet fast-growing demand for online car buying services.
Paul Stokes, pictured, head of online retailing at GForces, who will be giving the workshop in Room 2 at 1pm, said: ‘Growing numbers of consumers are buying cars online or are ready to do so. Through our NetDirector® Auto-e software, we are delivering a safe, secure and seamless buying journey for customers that makes it easy for dealers to sell cars online.
‘Our data shows that ecommerce is already proving a success, attracting a different demographic of customers to open up additional revenue streams beyond the traditional dealership and lead-generation models.’
The transaction data analysed by GForces between January and March this year revealed that 52 per cent of car purchases enabled by its Auto-e platform takes place outside traditional business hours, as customers opt to buy from the comfort of their own home at a time that suits them.
Retailers are reporting that the average age of an online buyer is just 36 years old, and 70 per cent are male. The average distance between a customer reserving a used car online and their chosen dealership is currently 72 miles, proving that customers are willing to buy cars outside conventional showroom territories.
What’s more, the average time taken for customers to complete a full end-to-end online transaction, including finance approval, is just 26 minutes – a process that can take hours in a dealership and often involving more than one visit.
Find out more from GForces at CDX tomorrow – it’s free to attend for bona fide members of the motor retail trade.