OnDemand WTP Pricing Research

COMMENTARY: In digital-first world, accurate pricing reigns essential | Auto Remarketing

In fact, according to Cox Automotive’s recent “Future of Digital Retail Study,” seven in 10 consumers are more likely to buy from a dealership if they can start the process online, while 71 percent of consumers want to get information about the deal online, away from the dealership.

As more and more of the car-shopping process takes place online, the need for accurate, trusted pricing and data for both new and used vehicles will become even more integral.

Dealers can no longer rely on in-store interactions to lock down a price. With most of the research taking place online, consumers are relying on third-party valuation tools to provide accurate pricing and up-to-date data to guide them through the purchase process.

These pricing tools, backed by up-to-date and relevant data, help give consumers reassurance that they are receiving a fair and accurate price, further alleviating the stresses and concerns that often revolve around the deal-making process.

Third-parties now have access to more data, resources and technology, which has resulted in the most market-reflective valuations to-date for the industry. Enhanced valuation models, like the availability of range-based pricing for consumers, provides car shoppers with a realistic view of what they can expect to pay for a vehicle in their area.

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COMMENTARY: In digital-first world, accurate pricing reigns essential | Auto Remarketing.