WHAT WOMEN WANT
This article is from our archives and has not been updated and integrated with our "new" site yet... Even so, it's still awesome - so keep reading!
Published on Thu, Apr 8, 2010
By: The LACar Editorial Staff
What Women Experience Buying Cars - Report compares the car buying experiences of Women over 40 to under 40 By Anne Fleming The experience of purchasing a vehicle was less satisfactory for women under 40 than for women over 40, according to a report by Women-drivers.com comparing women over- and under-40 (mean age: 48 and 27 respectively). The data suggests that women over 40 are more confident, relaxed and expressed when buying a car than their younger counterpart. The report collected extensive research on what works and what doesn’t at the dealership, in both retaining customers and securing first-time buyers. Women visit an average of three dealerships during the process of looking for and purchasing a car. The data provides insights and trends regarding the purchase experience at car dealerships, according to the report. It’s a valuable lesson for all, and goes back to the basics of human interaction. What the report concludes is that regardless of age, ethnicity or marital status, women want to be treated with respect, spoken to truthfully, and to feel included in the process. More importantly, women want to feel confident about their ability to make good decisions, in a process that may or may not be familiar to them. This report reflects the Women Satisfaction Index® scores, or WSI® as well as other data found in the reviews of women’s experiences. Personal Experience Purchasing at a Dealership Women over 40 reported being less overwhelmed and apprehensive about the car buying experience than women under 40; in fact the older age bracket reported being excited, confident and relaxed about their approach visiting the dealership. The top reasons for purchasing at dealerships for women over 40 are ‘best price and deal, dealership’s reputation and best trade-in’. The top reasons for women under 40 are ‘best deal, dealership’s reputation and best financing’. While both age groups are aligned in their first two purchasing indicators, they differ in the third. The reason ‘best trade-In’ is a higher indicator with women over 40 is because they are interested in the maximum value of the vehicle in which they want to trade. On the other hand, the third indicator for women under 40 is best financing. For women under 40 financing is important because this is usually their first car purchase, and more likely their first new car purchase. Interestingly, the top reasons given for not purchasing a car from a dealership include: pressure from the salesperson, lack of a specific model or color, and the price or deal offered (in some cases, separate from the trade-in value). Most women in the survey felt satisfied with the overall dealership experience (89.4% > 40 v. 87.6% < 40), with the initial greeting and felt respected (93.2% v. 85.4%), with the salesperson’s ability to listen and answer questions (93% v. 86.8%) and to the salesperson’s knowledge of the vehicle’s features and operations (89.4 % v. 85%). In both age categories, women who purchased a vehicle, reportedly perceived the salesperson as being “knowledgeable, trustworthy, and understanding” and “likeable and respectful”. However, the scores tend to drop a bit when looking at women’s satisfaction with the pricing and negotiation process (86.4% v. 82.8%). Almost half of the women over 40 went to the dealership by themselves, almost eight percentage points more than women under 40. Of those that brought someone with them to the dealership, both age groups were consistent in the person accompanying them was a man (78.2% v. 81%). Again the higher age group perceived that they were treated ‘equally’, or the same as a man would have been treated under the same buying circumstances (82.2% v. 76.1%). With both buying groups, approximately 8 out of 10 said they received follow up communication from the salesperson or dealership. Conclusion The report reflects the very real imperative of dealers and manufacturers to familiarize themselves with the individual needs and desires of women buyers. A quarter of the women in this survey indicated they plan to buy another car within one to two years. Therefore, it behooves dealers to become aware of factors that contribute to a successful purchasing experience. Anne Fleming is President of Women-drivers.com.