Pumping the Brakes: Is Technology Really Disrupting the Car-Buying Experience?
“Data in the Digital Age” is a monthly blog written by UberMedia CEO, Gladys Kong, sharing her views on the new data landscape.
April 4, 2017 – CIO.com – It’s often easy to get swept up in the excitement of technological disruptions. Just looking at the news coming out of both the Consumer Electronics Show and Mobile World Congress earlier this year, one would think flying cars are just around the corner. Clearly, technology is quickly driving connected cars and autonomous vehicles forward. In these cases, technology is certainly disrupting the driving experience. However, it’s not disrupting the buying experience as much as one might be led to believe.
Let’s take a look under the hood of the automotive market. Perception assumes few people shop in person anymore, with mobile and digital greatly disrupting the car buying experience. While there is certainly a shift in using mobile for research, data tells us consumers in market for a new or used car are still heading to physical dealerships to augment digital research. In fact, more than 40% of Millennials/Gen Y cite visits to the dealership as an important factor in purchasing a new car, according to Deloitte. And, Gen Z is no different, with 66% preferring an in-store experience, says a new survey from Euclid Analytics.
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