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1、The Lean:Auto Insights Brief-Vol.2|June 2022|1VOLUME 2|JUNE 2022Auto Insights BriefTimely Consumer Insights for MarketersThe LeanThe Lean:Auto Insights Brief-Vol.2|June 2022|2Although e-commerce auto sales are projected to increase by 30%in 2022,95%of car and auto part sales are still occurring at p
2、hysical storefront locations.1 There are several key factors that auto marketers need to consider as car buyers continue to increase their visitation to dealerships and service departments.For one,limited inventory is likely stretching out the car buying process for those trying to find specific car
3、 models.This requires consumers to visit more than one dealership to find the best car for their needs.According to the March 2022 Consumer Price Index,new vehicle prices were up 0.2%,and used vehicle prices fell 3.8%from the prior month.Compared to March 2021,new vehicle prices were up by 12.5%,and
4、 used vehicle prices were up by 35.3%.Faced with high gas prices and inflation,car buyers also need to make crucial decisions about car size and fuel efficiency.According to JD Power,more than 31%of buyers in the West region were“very likely”to consider an electric vehicle(EV),and the South(26%)beat
5、 the Northeast and North Central regions(both 22%).Visitation data reveals that brands such as Toyota,Honda,and other similar brands are likely benefiting from the increase in EV-conscious buyers.For DIY auto brands,visitation to locations(such as AutoZone and Pep Boys)was flat from January to Febru
6、ary but increased to dou-ble-digit growth in March and April.This is signaling strong growth for DIY auto brands and service departments as families look to get their cars ready for summer road trips.In this issue of the Auto Lean Vol.2,we explore how these consumer trends and the current economy is
7、 impacting car-related purchases.Learn what day of the week generates the most growth in visitation and which brands are driving the most people to their locations.Additionally,find out how post-COVID behaviors are impacting seasonal holiday campaigns.1 eMarketer2 IHS MarkitBetween professional care
8、ers and personal lives,we understand that there is very little time left to read drawn out whitepapers.This is why we created The Lean meaning-ful marketing insights that help brands make strategic decisions about their marketing campaigns.Specifically designed for easy consumption and quick referen
9、ce,each issue of The Lean applies offline behavioral data filters and other industry sources to current consumer trends to help understand the impact they are having on business outcomes such as visits and sales.GroundTruth data is sourced from the 30 billion annual global visits observed on its pla
10、tform.All data is anonymized and aggregated.About The LeanOverviewThe Lean:Auto Insights Brief-Vol.2|June 2022|3Auto IndustryTrends345Traditional big sale weekends for the automotive industry may no longer be as grand,but dealerships can still muster up excitement around key holidaysDue to inventory
11、 issues,car buyers are making twice as many trips to dealerships to find a car to purchaseDIY auto brands and service departments are experiencing higher demand as the weather improvesDespite the rise in e-commerce sales,the overwhelming majority of car-buying is still conducted offline12High gas pr
12、ices drove more shoppers to consider traditional sedans,hybrids,and electric ve-hicles in the first quarter of 2022The Lean:Auto Insights Brief-Vol.2|June 2022|4At a Glance:Brand InsightsLand Rover+11%Volkswagen+8%Hyundai+5%ToyotaHonda+5%+4%Rolls-Royce+4%LexusMiniMitsubishiJaguar+4%+4%+3%+3%TOP TREN
13、DING AUTO BRANDS%CHANGE IN SHARE OF FOOT TRAFFICThere was a 27%increase in foot traffic to major car dealerships from Q4 21 to Q1 22The Honda Accord and Honda Civic topped the list at No.1 and No.2 most shopped cars in Q1.3Auto Audiences are GrowingHigh gas prices lead more shoppers to consider trad
14、ition-al sedans,hybrids and electric vehicles in the first quarter of 2022,likely benefiting Toyota.3From Q4 21 to Q1 223 Kelley Blue BookThe Lean:Auto Insights Brief-Vol.2|June 2022|5Despite the Rise in E-commerce Sales,the Majority of Car Purchases Will Still Be Conducted OfflineAUTO AND PARTS RET
15、AIL E-COMMERCE SALES%CHANGE%OF CATEGORY RETAIL SALESUS AUTO AND PARTS RETAIL E-COMMERCE SALES,2020-20264billions,%change,and%of category retail sales$56.29$66.31$86.262020202220212023$105.81$128.47$153.64$182.4820242025202617.8%30.1%5.2%6.2%7.2%8.4%21.4%19.6%18.8%9.6%22.7%20.0%4.3%4.1%4 eMarketerAlt
16、hough e-commerce sales are projected to increase by 30%in 2022,95%of automotive sales occur in brick and mortar dealershipsThe Lean:Auto Insights Brief-Vol.2|June 2022|6Foot Traffic SnapshotTraditional big sale weekends for the automotive industry may no longer be as grand,but dealerships can still
17、muster up excitement around key holidays-1%+8%-10%+4%MemorialDay WeekendLabor Day Weekend4th of July WeekendPresidents DayWeekendVOLUME OF FOOT TRAFFIC,INDEXED(2021)4th of July weekend drew the biggest crowds last yearThe Lean:Auto Insights Brief-Vol.2|June 2022|7Car Buying ProcessDue to inventory i
18、ssues,car buyers are making twice as many trips to dealerships to find a car to purchaseSunday3%Monday16%Tuesday16%WednesdayThursday16%16%Friday18%Saturday14%OF DEALERSHIP FOOT TRAFFIC BY DAY OF THE WEEK20213.420227.1SHOWROOMINGSOLDVERSUSdealershipsvisiteddealershipsvisitedCar buyers are making twic
19、e the amount of trips to dealerships before making a purchaseLess time at the dealership means shoppers are spending more time on media devices before and after the visitCar buyers still spend an average of 24 minutes at a dealershipThe Lean:Auto Insights Brief-Vol.2|June 2022|8Car Maintenance and S
20、erviceDIY auto brands and service departments are experiencing higher demand as the weather improvesAUTO SERVICE/PARTS LOCATIONS FOOT TRAFFIC(INDEXED)Jan1251007550FebMarAprVisitation to locations(such as AutoZone and Pep Boys)was flat from January to February but increased 14%above average in March
21、and 21%above average in April.The Lean:Auto Insights Brief-Vol.2|June 2022|9Looking ForwardSegment Your Audience Targeting StrategyMake It Easy for Consumers to Research and BuyWith contextual data like foot traffic,marketers can reach audiences who have recently visited a dealership and align their
22、 audience targeting with their customers personas,such as auto brand preferences,the places they visit,and demographic insights.In a post-pandemic era,auto intenders expect to have options for how and when they buy a car.Developing integrated campaigns that drive both online and physical actions can
23、 increase potential car sales significantly and help diversify revenue channels.Eliminate Wasted ImpressionsIf youre an auto dealer and you want to create meaningful engagement with potential car buyers,a majority of your marketing budget should be going toward performance-driven campaigns.This is especially important for auto marketers with multiple locations.In a market with so many consumer fluctuations,precision targeting and visitation insights can be an auto marketers best campaign assets:The Lean:Auto Insights Brief-Vol.2|June 2022|10Questions?groundtruthcoCONTACT US