Changes in consumer behavior lately have had a dramatic impact on retailing. Consumers demand immediacy – and precision. Today, consumers want to educate themselves as much as possible before going into a dealership for that dreaded and painstaking experience of buying a car. Increasingly, more and more online providers offer a complete virtual buying experience with the vehicle being delivered at the consumer’s residence.
The OEMs have to ask what they can do to adopt to the way the consumer prefers to shop. One key component is how models are being presented and configured on the OEM website. Without intention, a configurator may actually drive consumers to other brands, if the configurator is generic.
Why is that important? When a consumer has “designed” a car with the preferred specifications online, an expectation is now set given specifications and the associated price. When that consumer gets to the dealership and the monthly payment they were quoted online is different than in the store, consumers get turned off and tend to walk away.
In fact, nearly 50% of consumers will walk away from the deal if the promoted monthly payment quote is different than in the dealership.