July 26, 2021

Real prices drive digital retailing satisfaction

Customers who shop online aren’t looking for the lowest price, they’re looking for an honest price.

According to a January Market Scan poll of 200 vehicle shoppers, nearly half of customers are willing to walk away from a vehicle purchase over a difference from the in-store price of as little as $75. Twenty-one percent of the shoppers polled said they’d reject a deal if the price in-store is off by less than $50.

Price remains the priority for car shoppers who answered the online survey, but 34 percent said they’d be willing to pay extra if it meant the online shopping experience accurately reflected the in-store process.

Many respondents felt the online price was akin to a false promise rather than a starting point for negotiation. Nearly half of respondents said entering the dealership scrapped any progress they made online.

To improve customer satisfaction, dealerships need to make sure their online shopping experience mirrors exactly what customers would discover in-store about their overall vehicle buying costs. Without accurate payments, customers say digital retailing is an exercise in disappointment.