Life in the fast lane: Chinese auto path-to-purchase
Car manufacturers can learn from a new real-time study of Chinese car buying which reveals a very different path to purchase than shown by post-purchase research, with unexpectedly rapid decision-making.
With the world car market growing by just 3.5% in the last year, international automotive brands are increasingly looking to fast-growth Eastern markets to take up the slack. However, outdated purchase models risk leaving brands with an incomplete understanding of the buying process in such emerging markets and may well be undermining attempts to capture a significant share of first-time auto buyers.
The car-buying environment as a whole has been transformed in recent years, not least by the pervasive influence of digital and social media. In response to this, TNS has developed The Automotive Path to Purchase Study (TAPPS), a new approach to mapping the journey of potential auto buyers, which is designed to reflect a far more complex environment than that envisaged by the traditional, linear purchase funnel model.