What's Steering Automotive Shopping? New Research from Onbe Reveals Going Digital is Key to Driving Success
Onbe, a fast-growing corporate disbursements platform with over 25 years of payments experience counting 11 of the world's leading automotive brands as clients, released a new U.S. study closely examining consumer automotive shopping behaviors. Surveying more than 1,000 Americans between 18 and 99 years old in August of 2021, the study found that providing seamless digital experiences, from shopping to incentives, is the key to driving purchasing action.
In 2020, millennials bought 32% of new cars, surpassing Baby Boomers for the first time. Onbe's 2021 study found that 68% of under-30 consumers plan to purchase or lease a vehicle in the next 18 months, proof that younger millennials are rapidly gaining buying power.
"The millennial generation expects to have seamless digital experiences whenever and however they engage with brands, so to win their business, automotive brands need to be ready to offer digital automotive incentives, too," said Tracy Monson, Senior Vice President of Product at Onbe. "To maintain momentum and loyalty, auto dealers can utilize incentives to enhance the in-person buying experience and encourage consumers to not only buy now but keep coming back for maintenance and secondary purchases."
Download an automotive whitepaper with key survey findings here. The survey findings will be discussed in a live webinar to be held on October 5, at 1:00 p.m. eastern, featuring Tracy Monson, Senior Vice President of Product at Onbe, and Don Apgar, Director of the Merchant Acquiring advisory practice at Mercator Advisory Group. Click here to register for the webinar.
Onbe, with offices in Chicago, Philadelphia and London, creates engaging corporate disbursement experiences on behalf of modern brands for consumers, workforces and marketplaces, delivering value beyond currency. Backed by top-tier investors and with over 25 years of industry experience, Onbe's team of experts and purpose-built payment issuing platform seamlessly connect brands to their constituents around the world. www.onbe.com
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