Chicago—February 13, 2010—At the annual National Automobile Dealers Association Convention & Expo here, Cars.com presented the results of an in-depth analysis that for the first time measures the impact of internet merchandising on online shopping behavior. The study found that cars advertised with multiple photos, descriptive sell copy and a competitive price generate greater consumer interest and response.
"In an increasingly competitive environment, dealers must give car buyers the complete picture," said Michael Page, Cars.com vice president of advertising products. "Stores that fully merchandise their inventory stand out from their competitors, connect with shoppers and position themselves to win more than their fair share of the deals."
Approximately 230,000 new and used vehicles listed on Cars.com between June 2008 and June 2009 were examined. The study found that quality merchandising played a large role in driving results, especially for pre-owned vehicles. Used cars with:
-- A competitive price received 191 percent more vehicle details page views and 263 percent more contacts than a vehicle without a competitive price. For example, vehicles priced competitively receive 79 percent more vehicle details page views and 136 percent more contacts than vehicles priced 10 percent or higher than market average.
-- 11 or more pictures received 175 percent more vehicle details page views and 127 percent more contacts than listings without pictures.
-- Inventory- and dealership-level sell copy received 17 percent more contacts.
-- The manufacturer's certified used logo received 18 percent more vehicle detail page views and 34 percent more contacts.
The study also found a surprising disconnect between the results dealers want and actual merchandising practices. Among the analyzed vehicles:
-- 7 percent were listed without a price.
-- 13 percent were listed without a photo.
-- 13 percent didn't have sell copy.
"Online success begins with making the car the star and offering greater transparency for the consumer," Page said. "As shoppers evaluate their options, they're drawn to listings and dealerships that allow them to take a virtual test drive, validate the vehicle's condition and help them make an informed decision."
Cars.com is the leading destination for online car shoppers, offering credible, easy-to-understand information from consumers and experts to help buyers formulate opinions on what to buy, where to buy and how much to pay for a car. With comprehensive pricing information, side-by-side comparison tools, photo galleries, videos, unbiased editorial content and a large selection of new- and used-car inventory, Cars.com puts millions of car buyers in control of their shopping process with the information they need to make confident buying decisions.
Launched in June 1998, Cars.com is a division of Classified Ventures, LLC, which is owned by leading media companies, including Belo (NYSE: BLC), Gannett Co., Inc. (NYSE: GCI), The McClatchy Company (NYSE: MNI), Tribune Company and The Washington Post Company (NYSE: WPO).