Google has recently released a research report on effects of digital on tires purchase and research by the buyers while they are going to shop. 91% purchases have grown year over year (YOY) driven by routine maintenance and the shoppers are said to be spending more per transaction.
The number of buyers who are considering more than three brands is growing 38% YOY. Brand name and reputation are more important in the research prior to purchase. Shoppers are using digital as a combination of video, mobile and search.
- Reasons for purchase: The reasons for buying the tires are, routine maintenance (33%), the tread level on the tires was low during routine maintenance (27%), based on tread depth and/or mileage (24%), tire had puncture (21%), upgrade the tires to get the better performance (17%), seasonal changes (like winter tires 13%), friends or family member suggested to buy new tires (13%), while driving feel something strange with tires (13%), bought previously owned car (10%), to improve appearance (9%), there is a warning from retailer (8%), and warning from dashboard (7%).
- Researching time increasing: The shoppers are spending more time on researching and is increasing YOY. 41% of shoppers spent over a week on researching and it is 35% in the year 2012. The researching time by the shoppers in 2012 and 2013 are:
- Four weeks or more: 4% in 2013 and 5% in 2012.
- Three to four weeks: 3% in 2013 and 4% in 2012.
- Two to three weeks: 12% in 2013 and 8% in 2012.
- One to two weeks: 22% in 2013 and 18% in 2012.
- One day to one week: 35% in 2013 and 32% in 2012.
- Less than a day: 23% in 2013 and 33% in 2012.
- Spending per transaction: 61 percent of the shoppers spent over $150 per tire, it is increased from 47% in 2012. The other spending slabs are as follows:
- Less than $150: 53% in 2012 and 39% in 2013.
- Between $150 to $200: 27% in 2012 and 33% in 2013.
- Between $200 to $250: 12% in 2012 and 14% in 2013.
- Between $250 to $300: 4% in 2012 and 8% in 2013.
- More than $300: 4% in 2012 and 6% in 2013.
- More brands are considered by shoppers: Consumers considered for more brands year after year as part of tire purchasing process. 30% of respondents considered more than three brands in 2013, which was 21 percent last year. Two brands consideration was 16% in 2012 and rose to 18% in 2013. One other brand consideration is 31% and 30% in 2012 and 2013 respectively. Also, those who considered no brands decreases from 31% in 2012 to 22% in 2013.
The important features for the tire shoppers in 2013 are physical appearance (55%), recommended by vehicle (57%), brand (67%), fuel efficiency (75%), ride comfort (77%), past positive experience (79%), traction (81%), warranty (82%), affordability or price (84%), and durability (85%). The online purchase increased to 29% in 2013 from 10% in 2012.