November 8, 2017
Over a third of Millennials willing to buy car online as attitudes point to an increasingly digital future
November 8, 2017 – London – Trustpilot, the global online review community, today announces the results of a YouGov survey conducted with over 1,500 British drivers focused on understanding attitudes to car purchases.
As Amazon enters the UK car retail market, new online research shows that Millennials (defined as 18-35 year olds) are increasingly open to buying cars online. Over a third (36%) of Millennials confirmed they would be willing to buy a car online compared to 25% overall, demonstrating the need for auto retailers and manufacturers to digitally transform.
Millennials were also most likely to trust major online companies with 56% displaying at least moderate trust in Amazon, compared to 42% overall and just 31% for those aged 55 and over. Similarly, 33% of Millennials would be willing to buy a car from online technology giants such as Google and Apple, compared to 23% overall and just 17% of those over 55.
When it comes to researching their next car, 82% of Millennials turn to the internet. Online reviews are considered one of the most influential sources of information with 80% citing reviews as at least fairly influential, far higher than general social media which was only viewed as influential by 37%. Millennials also value word of mouth recommendations with 81% believing them to be valuable. Less influential sources for Millennial buyers include expert reviews at 52% and advertising at 39%.
Neil Bayton, Partner Director, Trustpilot, commented: “For those seeking to appeal to Millennials, the message is clear - build a compelling digital experience that provides access to the buying and service experiences of others. By doing so you’ll appeal, to Millennials on their terms as our research clearly shows this segment is ready to buy online. The winners in the industry will be those that embrace change and transformation.”
Nathan Quayle, Group Marketing Manager, FoW Car Supermarkets added: “At FoW we’ve taken significant steps to enhance the way we present and market our cars digitally, including inviting customers to review our experience and using this across our marketing channels. Millennials are an increasingly important customer group for our industry and those digital natives really want a transparent and superior online customer experience.”
Increasing numbers of car dealers are partnering with Trustpilot in order to collect, manage and present online customer reviews as a means of building trust in their service. Last month, Trustpilot announced a major deal with Auto Trader that will see Trustpilot reviews integrated into Auto Trader’s digital car marketplace, making it easier for consumers to make purchasing decisions.
Click here to download the full Trustpilot report on how digitization will transform the auto retail industry.
Trustpilot is an online review community that helps consumers make better purchasing decisions and businesses showcase and improve their service. Any consumer can write a review on Trustpilot; any business can invite its customers to share reviews about their experiences – for free. With more than 35 million reviews of 188,000 businesses from a variety of industries worldwide, Trustpilot is quickly becoming the world’s leading independent review site. Trustpilot reviews are seen nearly 2 billion times each month by consumers worldwide. With offices in Copenhagen, London, New York, Denver, Berlin, Melbourne and Vilnius, Trustpilot's 550 employees represent more than 40 different nationalities. For more information, visit https://www.trustpilot.com/
About the research
The research was conducted in September 2017 by YouGov on behalf of Trustpilot.. In total, the sample size was 2046 adults, of which 1,525 adults are driving licence owners. Fieldwork was undertaken between 13th - 14th September 2017. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+). For the purposes of this analysis Millennials are defined as 18-35 year olds, and 281 were surveyed as part of the research.