Online video content turns out to be the biggest disrupter with 225 per cent YoY growth in watchtime
New car buyers in India are banking more and more on digital media to research before they make their purchase. A staggering 89 per cent of new car purchases are digitally influenced and 96 per cent of these people search online while 80 per cent watch videos before zeroing in on an auto purchase, a report by Google & Kantar TNS suggests. The numbers are growing every year as digital media influenced 75 per cent purchases in 2016.
Out of all online media, Google puts its money on video content as the biggest disrupter. In a press release that was shared with us, Vikas Agnihotri, industry director of Google India, said, “Online video has emerged as the biggest disrupter for the four-wheeler industry in India. YouTube has over 225 million* Indian smartphone users watching online video every month, auto content itself has witnessed an astounding 225% year-on-year watchtime growth. From an advertiser perspective, what makes this trend even more relevant is that car manufacturers can now measure the exact impact that online is having on offline sales, and we believe that is a real game changer.”
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While the watchtime that the report suggests has grown up significantly, the most important takeaway is the fact that 79 per cent of those watching videos online are taking an action which reflects in their new car purchase.
It’s also interesting to note that the reliance on online media for research helps users to quickly make up their mind. The report mentions that over twice the number of consumers take just two months to buy a four-wheeler when compared to two years ago.
Buyers also have to make lesser visits to the dealerships now. There could be various reasons for a prospective new car buyer to visit an automobile dealership. These could range from getting the brochure, the price list or taking a test drive. While you can research about a car’s specifications and download brochures online (even on cardekho.com), you can also check new car prices or even register for a test drive. The report also mentions that the visits to the dealerships have halved in the last three years.
Readers note - The Google & Kantar TNS report is based on a survey on 13,828 respondents in 27 markets via online or face-to-face interaction.
This Story has not been edited by ABP News. It has been published through cardekho.com feed directly.