Online videos act as consulting zones for Indian car buyers: Report

Online videos play a significant role in the purchase journey of an automobile shopper with nine out of the 10 buyers doing one follow up action triggered by the video, said a new report by Google India and Kantar.

With online video growth in the country, YouTube has emerged as a critical platform for buyers to find independent and credible videos that solve their queries, showed the findings of the “Auto Gear Shift India 2020” report released on Wednesday.

The report calls out the digital transformation that is underway in the auto industry, as the consumer purchase journey is changing across the country.

The results showed that over 90 per cent of the buyers across new cars, used cars, and new two-wheelers buyers research online.

Over 90 per cent of new and used car buyers and 81 per cent two wheeler buyers rely on search engines to read vehicle reviews and get access to information on aggregators websites.

“The auto industry is undergoing a digital transformation and many leading brands have already digitised their consumer touch points. With the consumer preferences shifting to digital across categories, we will see more brands find new ways to engage consumers on digital platforms,” Nikhil Bansal, Head of Industry – Auto, Google India, said in a statement.

As digital becomes the primary touch point for prospective buyers, automobile brands and dealerships have heightened their online presence to be a part of the consumer’s car-purchasing journey.

The report stated that 72 per cent of the new car buyers, 70 per cent of the used car buyers, 70 per cent of the used car sellers and 54 per cent of two-wheeler buyers searched for dealership online.

The report also showed that the duration between research and final-decision making has become short with easy access to information online.

While 85 per cent of new car and 92 per cent used car buyers decide within two months, about 91 per cent of Tier-2 buyers took almost two months.

Similarly, 95 per cent of two-wheeler buyers decide within two months.

“This makes it even more important for auto brands to create richer experiences and content that allows buyers to not just get information but also get an immersive brand experience to engage and influence their decision,” Bansal said.

The research was based on a survey of 2,000 respondents covering 17 cities from Tier-1, 2, 3 areas.