Ecommerce driving the used car industry for 16-35 year olds
As the UK’s ecommerce industry enjoys steady growth, recent research by Bristol Street Motors shows that almost half of people aged 16-35 would buy a used car entirely online.
While Brexit concerns and changes to the automotive industry, including the Vehicle Excise Duty, have resulted in a drop in new UK car sales, the used car market has remained strong. Similarly, UK ecommerce grew by 18.8% in April and continues to grow.
This data is supported by Bristol Street Motors’ survey, showing that 48% of people aged 16-35, would be happy to purchase a used car online, despite it being a relatively new service.
Bristol Street Motors’ study also showed that nine out of ten people were aware that you can buy a used car online and more than a quarter of people aged 36-55 would consider buying a car.
Of the people surveyed, 28% said that a trusted provider was the most important factor to consider when buying a car and being able to return the car for a full refund was the second largest factor at 27%. Bristol Street Motors prides itself on being a reputable and trusted franchised dealer group, helping to fit customer needs presented in the survey results.
Other key issues that were important to customers included the right price and having a local dealership close by, for aftermarket services.
In 2017, Vertu Motors, the Group which operates Bristol Street Motors, became the first major UK motor retailer to offer customers the ability to purchase a used vehicle entirely online including part exchanges and finance options, with the launch of Bristol Street Motors Buy Online.
Bristol Street Motors has taken customer feedback into account with the design of the Bristol Street Motors Buy Online platform allowing potential customers to choose from three different paths to purchase a car:
- Viewing a used car in a dealership then purchasing online
- Browsing online then purchasing and collecting the vehicle from a dealership
- Browsing and purchasing online and having the vehicle delivered directly to their address.
It allows customers to choose from more than 3000* used vehicles and complete their purchase in under five minutes, if they have the funds in place or arrange financial packages if they don’t. In order to make the process as simple as possible for the customer, the vehicle can be delivered to any home address with a UK mainland postcode. This means the vehicle can be purchased and keys handed over, without the buyer ever visiting a dealership, if they prefer or are not able to.
Phillip Regan, Head of Digital Product Marketing & Ecommerce said: “The data suggests that younger motor retail customers would be prepared to use an entirely online service when buying a car. There are lots of things to take into consideration when making such a large purchase, and it is our job to cater to everyone’s needs and requirements.
“Buy Online offers a bespoke solution, whereby customers can choose the best option for them. They can get the vehicle delivered directly to their door, they can look at a car online and collect it from a dealership or can see a car in a dealership then buy it online.”
“While convenience does play a large part in people’s purchasing decisions, buying a car is still a large financial commitment, so it is no surprise that our research has shown that buying from a trusted motor retailer was the most important factor for customers to consider. The Bristol Street Motors name is one customers know for providing the highest quality with excellent customer service.”
*Figure accurate as of 15th July 2018