9:45 am, December 16, 2019
BUYERS take an average of 40.5 days to search for their next car purchase, with 33 per cent of people taking at least six weeks, according to research by eBay Motors Group.
The eBay Motors Group Digital Touchpoints Study of more than 2,200 car buyers, conducted by Insight Advantage, also identifies a link between the time spent searching and a buyer’s age.
Younger buyers spend the least time in the process with 18- to 24-year-olds taking less than two weeks (12 days) to search for a car, followed by 25- to 34-year-olds who take 32 days, while 35- to 44-year-olds average 39 days.
Buyers aged over 45 spend much longer on the process averaging over 46 days, more than six weeks, before making a final decision.
Overall, male and female buyers are evenly matched, respectively spending an average of 41 and 40 days searching.
Dermot Kelleher, eBay Motors Group’s head of marketing and business intelligence, said: ‘Our research has revealed just how long it takes buyers to search for their next car with the process averaging over five weeks for most buyers.
‘Age is clearly an important factor in determining how long is spent searching with nearly two-thirds (61 per cent) of buyers under 35 saying purchases are driven by imminent life events including becoming a parent or needing a car for school-age children. These buyers are in a hurry and typically spend less than a month searching for a car.
‘Customers under 25 spend less than two weeks searching with many being first-time buyers without trade-ins to sort out.’
The study illustrates the need for dealers to consider the impact of changing lifestyles on buyers and factor this into their online marketing.
‘With most buyers spending longer searching for the right car, it’s essential that dealers build and maintain high online visibility through multiple digital touchpoints to enable buyers to start narrowing down their options ahead of visiting showrooms,’ said Kelleher.
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