Jumpstart Automotive & Ipsos Connect Unveil Latest Auto Shopper Study Showing How Demographic Audiences Research and Purchase Vehicles

Millennials More Interested Than We Thought; Mobile Devices Center of In-Car Infotainment

SAN FRANCISCO (June 27, 2016) — Jumpstart Automotive Media, an expert automotive marketing and advertising company, today unveiled its latest auto shopper study in collaboration with Ipsos Connect, "Today's Auto Shopper: How They Research And Why Trust Is So Essential in Winning Them Over." The report looks at new trends in the car-shopping process for several demographics, including women, Millennials, and Asian and Hispanic shoppers.

Consumers are constantly cycling in and out of market depending on their changing life situations and preferences. To better understand their mindset, Jumpstart commissioned global research firm, Ipsos Connect, to gain insight into shoppers' underlying motivations, opinions, and the information they trust and utilize most during the research process.

Millennials ARE Very Interested In Car Shopping

Among the many key findings, the research showed that Millennials are not only interested in purchasing cars, but they're also cycling in-market more frequently due to changing life stages (four in ten shoppers buy a new car every three years vs. nearly six out of ten Millennials). Online shopping has shortened their decision-making window to a 30-day process. 74% of Millennials now take four weeks or less when shopping for a car and 88% research online throughout the entire process.

Where Technology Matters

Automotive brands have invested heavily in infotainment, but the majority of car shoppers across all demographics say they're more interested in having vehicles serve as an extension of their digital lives. Smartphone apps and functions seamlessly integrating into their vehicles is more important than a vehicle's custom tech features.

Women Are High-Information Shoppers

Women continue to be an important audience for automakers and dealers, particularly since they influence 80% of all transactions. They rely heavily on independent research and reviews and are more likely to consult Consumer Reports than any other group. Women place a greater value on practical needs such as passenger seating, comfort, and safety, while remaining budget conscious. Although they are primarily new-car buyers, they show more willingness than men to consider used if it means they're going to get more for their money.

Asian & Hispanic Shoppers Look For Brand Recognition

Asian and Hispanic shoppers place a greater emphasis on brands or vehicles that are more popular or recognizable, as well as vehicles with alternative fuel options. Overall purchase price is important to Asian shoppers, but they show more willingness to increase their monthly payment if they feel the value is there. Hispanic shoppers rank purchase price higher than monthly payment, but monthly payment is a higher consideration for them than any other group.

Asian consumers have a higher affinity for luxury vehicles due to a 'you get what you pay for' mentality and cultural influences that place a big emphasis on quality. Hispanic shoppers tend to purchase more new vehicles than used, and they often hold onto a vehicle and pass it down to a family member instead of trading it in, making trade-in offers less relevant to this group.

Quality/Reliability Now More Important Than Fuel Economy

Throughout the research, quality/reliability was of higher importance than fuel economy. Perhaps this stems from a recall-heavy environment today combined with low gas prices over the last few years. When consumers begin their research, their top three must-haves in a brand or vehicle are: good value (77%), a reputation for being strong and reliable (68%), and a reputation for excellent quality (65%). But ultimately when it comes time to buy, quality/reliability (34%), gas mileage (29%), and price point (28%) are the top three key influencers for all shoppers.

"The results of this study illustrate that people are similar in the way that they gather information. But there are both subtle and significant differences between demographics," said Libby Murad-Patel, Vice President of Strategic Insights and Analytics for Jumpstart. "Our hope is that brands across the entire automotive spectrum use these insights to help elevate the shopping experience for all consumers."

According to Dr. Stephen Kraus, Chief Insights Officer for Ipsos Connect and director of the study: "This study paints a vivid portrait of today's auto shopper: informed, empowered, value-oriented, and brand-focused. The research also underscores the crucial importance of the Internet, as 80% research online throughout the purchase process, not just as the purchase becomes imminent."

About The Study

The research was conducted by Ipsos Connect from December, 2015, through March, 2016. Through qualitative research (online diaries, focus groups, and one-on-one interviews in Houston, Texas and Sacramento, California), then quantifying—with measurable data—those findings through a series of national online surveys, this study provides a look at general trends and addresses some of the fundamental differences among these key demographics.

For the survey, 1,014 U.S. respondents were interviewed online, all of whom met the following three criteria: (1) adults aged 18-64, (2) at least $30,000 in annual household income, and (3) purchased a vehicle in the past year, or intended to purchase a vehicle in the next six months. The precision of online polls is measured using a credibility interval. In this case, the survey has a credibility interval of plus or minus 3.5 percentage points.

About Ipsos

Ipsos is an independent market research company controlled and managed by research professionals. Founded in France in 1975, Ipsos has grown into a worldwide research group with a strong presence in all key markets. Ipsos ranks third in the global research industry.

With offices in 87 countries, Ipsos delivers insightful expertise across five research specializations: brand, advertising and media, customer loyalty, marketing, public affairs research, and survey management.

Ipsos researchers assess market potential and interpret market trends. They develop and build brands. They help clients build long-term relationships with their customers. They test advertising and study audience responses to various media and they measure public opinion around the globe.

Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global revenues of €1,669.5 ($2,218.4 million) in 2014.

Visit www.ipsos.com to learn more about Ipsos' offerings and capabilities.

About Jumpstart:

Jumpstart Automotive Media, a division of Hearst Magazines, offers high-impact and performance-driven marketing and advertising solutions that achieve optimum results. Jumpstart is an industry thought leader known for its True Market Impact™ brand reports and in-depth shopping trend insights. Exclusively representing automotive digital publishers, Jumpstart reaches consumers at all stages of consideration and provides in-market scale. Connect at JumpstartAutomotiveMediaTwitter, and Facebook.

Jumpstart is: Car and Driver, U.S. News Best Cars, NADAguides, J.D. Power Cars, autoweek.com, Autobytel, Daily News Autos, LeftLane, CarSoup, and CarBuzz.


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