Survey Reveals 80 Percent of Buyers Likely to Begin Car Buying Process Online, Still 78 Percent Value In-Store Dealer Experience
CDK Global Introduces Connected Store 2.0, An Enhanced Online Retailing
Experience Connecting Showrooms to Living Rooms
LAS VEGAS--(BUSINESS WIRE)--Mar. 22, 2018--
New research from CDK
Global (Nasdaq: CDK), a leading enabler of end-to-end automotive
commerce, found that 80 percent of buyers are likely to begin the car
buying process online; still, 78 percent said they value the in-store
dealership experience. While the automotive retail industry is racing to
provide the next online tool, the complete CDK study reveals that while
shoppers expect the dealership to enable them to do more from home, the
majority don’t want to purchase their vehicle completely online.
“Shoppers told us they are interested in more online tools, but they
don’t want to buy cars online just because they can,” said Max Steckler,
vice president, product management, CDK Global. “There has to be more
value, and the connection between online and in-store is critical to
providing value for dealers and shoppers alike. Offering a flexible and
dynamic retailing platform that connects showrooms to living rooms is
appealing to car buyers. Shoppers and dealers can complete as much of
the deal as they like online, then pick up the process in store.
Alternatively, they can test drive their vehicle of choice in the
dealership, then complete the transaction later from home.”
Today, CDK Global introduces Connected
Store 2.0. Building on the success of its predecessor and driving
toward a quote-anywhere transact-anywhere model, Connected Store 2.0
offers an enhanced customer interface, transparent payment breakdown, as
well as F&I products to add to the payment builder. Additionally,
Connected Store 2.0 is now completely portable. It can be placed on
dealer and OEM websites, endemic sites, in-store apps, CRMs and more.
Connected Store 2.0 breaks the barrier between online and in-store with
CDK Quote Cloud, an API now available on the automotive industry’s new Fortellis
Automotive Commerce Exchange™ platform. Quote Cloud allows vendor
partners to access live shopper quote leads with rich data right from
the source. The solution will offer clearer online retailing data in any
CRM, and better downstream integrations into other tools like Desking
and F&I for dealers.
“Today’s dealers are searching for control, efficiency and cost savings,
and today’s shoppers want a shorter, more efficient and enjoyable
in-store experience – Connected Store 2.0 achieves both objectives,”
The recent CDK study found that 70 percent of millennials use dealership
websites when narrowing down which dealer to visit, while the average
car shopper spends nearly nine hours researching online. Even with the
investment in research and planning, 43 percent of shoppers are still
spending three or more hours at the dealership when buying a car.
“It’s clear that there is a tremendous opportunity for dealers to
reshape the purchase process on their terms by moving more of their own
processes online, while catering to the evolving needs of their shoppers
establishing trust through transparency,” Steckler continued.
Connected Store brings the complete end-to-end deal-making power of the
showroom to the shopper in a clean and unintimidating online interface.
The updated 2.0 application streamlines this process, improving upon
existing functionality for a better experience. New features include:
- Enhanced, Faster and Portable User Interface: Connected
Store 2.0 has a simplified and modern new user interface that overlays
an end user's browser or application. It can be installed on a vehicle
search results page, within a CRM system, on a tablet application and
more. The updated tool features a more polished and guided experience,
yet doesn’t require a shopper to finish any steps before submitting
their quote to the dealership. This new interface also features faster
load times and includes crisp, clean animations.
- Improved Payment Breakdown: The new payment breakdown
window in Connected Store 2.0 provides a clear and detailed breakdown
of the shopper's quote including price, incentives, lender info, taxes
- F&I and Accessories Module: Dealers can add F&I
products and accessories to the Payment Builder section of
Connected Store 2.0. This can include product names, descriptions,
photos, and links to catalogs and videos.
CDK Connected Store 2.0 is now available for all brands. For more
information, visit cdkglobal.com/connectedstore.
About CDK Global
With more than $2 billion in revenues, CDK
Global(NASDAQ: CDK) is a leading
global provider of integrated information technology and digital
marketing solutions to the automotive retail and adjacent industries.
Focused on enabling end-to-end automotive commerce, CDK Global provides
solutions to dealers in more than 100 countries around the world,
serving approximately 28,000 retail locations and most automotive
manufacturers. CDK solutions automate and integrate all parts of the
dealership and buying process from targeted digital advertising and
marketing campaigns to the sale, financing, insuring, parts supply,
repair, and maintenance of vehicles. Visit cdkglobal.com.
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Source: CDK Global