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GForces finds 52% of car purchases happen out-of-hours

Paul Stokes GForces head of online retailing

GForces claims that it has identified a number of emerging trends in online automotive retailing, including a preference to buy online and out of business hours.

Transaction data from January to March 2019 revealed that 52% of car purchases enabled by GForces’ Auto-e platform are occurring outside traditional business hours, as customers opt to buy from the comfort of their own home at a time that suits them.

Furthermore, 51% of transactions are completed via mobile devices, as buyers make use of the user-friendly, fully-responsive Auto-e buying journey.

Retailers are reporting that the average age of an online buyer is just 36 years old, and 31% are female, GForces said.

GForces’ head of online retailing, Paul Stokes (pictured), said: “Growing numbers of consumers are buying cars online, or are ready to do so.

"Our data shows that ecommerce is already proving a success, attracting a different demographic of customers to open up additional revenue streams beyond the traditional dealership and lead-generation models.”

The average distance between a customer reserving a used car online and their chosen dealership is currently 72 miles, GForces said, claiming that this served as proof that customers are willing to purchase cars outside conventional showroom territories.

The average time taken for customers to complete a full end-to-end online transaction, including finance approval, is just 26 minutes – a process which can take hours in a dealership, often involving more than one visit.

 

 

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