SAN FRANCISCO — Cyber Monday has become a huge day for shopping in the U.S.. Last year, the day generated $3.07 billion in sales, a record high for e-commerce in the United States. This year, Jumpstart Automotive surveyed approximately 2,500 consumers in order to gauge consumer interest in the idea of buying a car on Cyber Monday.
The firm found that although many consumers don’t associate the day with car shopping, the appetite for finding a good deal on a car on Cyber Monday still exists. The firm also found differences in what men and women look for when searching for a good deal on a car.
About 40% of total respondents stated that they didn’t think there were any special deals on autos during Cyber Monday. However, 26% of respondents said that they thought shopping for a car on Cyber Monday was a great idea. Additionally, 13.6% of all respondents said they planned to shop for a car on Cyber Monday.
When looking at men and women independently, the firm found that the appetite for cars on Cyber Monday was much more apparent in men. Twenty-two percent of men said that they were planning to buy a car on Cyber Monday, while only 9.1% of women said the same.
Not only were more men interested in looking for a car on Cyber Monday, they were also after the deepest discounts. Forty-seven percent of males respondents said it would take at least a $1,000 discount off of a car’s sticker price in order for them to commit to buying a car. Thirty-three percent needed an even deeper discount, indicating that it would require $1,500 off sticker price to get them to pull the trigger.
Women, on the other hand, stated it would require less. Thirty-five percent of female respondents said they would be enticed to buy a car if they got a $500 discount off of a car’s sticker price, while 25% said it would take $1,000 off.
Further differences that the firm found between men and women shopping for a new car involved the steps to buy a car, like financing and trade-ins. The firm found that 42.2% of women only looked at the vehicle details page when determining the cost of a car; 20% only looked at vehicle prices.
About 27.8% of men, on the other hand, said that along with looking at the price of the car, they also research financing options — 19.4% also look at trade valuations.
One thing that both men and women did agree on, however, was the type of vehicle they’d be shopping for. Out of all respondents surveyed, 33% of men and 35% of women said they would be most interested in shopping for SUVs/CUVs on Cyber Monday.
Originally posted on F&I and Showroom