Road To New Vehicle Purchase Often Bumpier For Women, Reveals New KBB.com Research
Men Generally More Confident Car Shoppers, Perform Less Research than Feature-Focused Females
IRVINE, Calif., Oct. 15, 2014 /PRNewswire/ -- When it comes to car shopping, women are driven by features – engaging in extensive research to find the best fit – while from the outset many men are revved about a particular car brand, according to a study just released by Kelley Blue Book www.kbb.com, the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry.
One-in-five men know the exact vehicle he wants, while women are twice as likely to be undecided about what vehicle they desire, the study revealed. Additionally, 58 percent of men are confident in the car-buying arena, versus 38 percent of women. As a result, women take longer to make a purchase (a median of 75 days, compared with men's 63 days), because they are spending more time than men doing research in an effort to build confidence and knowledge.
"It's striking that while there exist many similarities between how men and women shop for vehicles, there also are some very marked differences," said Hwei-Lin Oetken, vice president of market intelligence for Kelley Blue Book's KBB.com. "What we can glean from this research is that we need to continue our focus on providing the proper tools and content to help shoppers narrow down choices, therefore bringing balance and filling gender gaps in the car shopping experience."
Kelley Blue Book's KBB.com study also revealed:
- While men are more likely to view their cars as tied to their image and accomplishments, women are more likely to see them simply as a way to get from point A to point B.
- Men, who tend to be more image conscious, want trucks, coupes and luxury sedans; women, who tend to be more utility-minded, prefer non-luxury SUVs and sedans.
- Men want domestic trucks and European luxury brands because of the image they portray; women prefer non-luxury Asian brands, which they view to be more practical.
- Women value practical, fundamental benefits – things like durability and reliability, safety and affordability – more than men, who are more drawn to interior layout, exterior styling, technology and ruggedness.
- For men, a successful transaction depends on the negotiation – getting the best deal – while women define it as getting the exact vehicle they want.
Results from the study are from Kelley Blue Book Market Intelligence's analysis of data from KBB.com traffic and survey data from BrandWatch, Combined User Profile, Recall Awareness, and Price Quote Follow-Up studies. These studies offer insight into how shoppers perceive important factors driving their purchase decisions, brand/model familiarity, brand loyalty, dealership experience, and the impact a recall would have on a brand's perception. Total sample size from all sources was approximately 40,000 U.S. adults.
To discuss this topic, or any other automotive-related information, with a Kelley Blue Book analyst on-camera via the company's on-site studio, please contact a member of the Public Relations team to book an interview.
For more information and news from Kelley Blue Book's KBB.com, visit www.kbb.com/media/, follow us on Twitter at www.twitter.com/kelleybluebook (or @kelleybluebook), like our page on Facebook at www.facebook.com/kbb, and get updates on Google+ at https://plus.google.com/+kbb.
About Kelley Blue Book (www.kbb.com)
Founded in 1926, Kelley Blue Book, The Trusted Resource®, is the only vehicle valuation and information source trusted and relied upon by both consumers and the automotive industry. Each week the company provides the most market-reflective values in the industry on its top-rated website KBB.com, including its famous Blue Book® Trade-In Values and Fair Purchase Price, which reports what others are paying for new and used cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies, and governmental agencies. Kelley Blue Book's KBB.com ranked highest in its category for brand equity by the 2014 Harris Poll EquiTrend® study and has been named Online Auto Shopping Brand of the Year for three consecutive years. Kelley Blue Book Co., Inc. is a Cox Automotive company.
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SOURCE Kelley Blue Book
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