Digital adoption seems to have been accelerated for the CV buyers in India- a category wrongly perceived to be away from digital world. Happy and Interesting findings, I must say.
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Commercial Vehicle buyer- The changing buyer behavior
1. A TrucksDekho Survey
Impact of COVID
Driving revenues for & facilitating high brand visibility
for Commercial Vehicle OEM's in India
01
2. * - In-market audience refers to lead droppers on our platform
Why does this survey matter?
• TrucksDekho is the only digital playground for trucks in
India with approx. 7 Lakh+ unique visitors per month
• Digital behaviour of Commercial Vehicle customers
defer across each segment
• OEMs can align their digital campaign and strategy
according to survey results
• In-market audience* (N) = 800, divided equally
amongst 4 segments
* - In-market audience refers to lead droppers on our platform
02
4. Mini-Truck Pickup ILCV MHCV
81%
18%
1% 0%
INDUSTRY TYPE
77%
21%
1%
1%
57%
37%
5%
1%
67%
30%
3%
0%
FMCG Industrial Other Perishable
FTB – First time buyers FO – Fleet Operators
Respondents Profile (1/2)
04
FTB (0-1) Small (2-5) Medium (6-20) Large FO (20+)
20%
9% 14% 8%
13%
12%
21% 33%
47%
43%
45%
51%
20%
36%
20%
8%
TYPE OF BUYER
5. Mini-Truck Pickup ILCV MHCV
No Yes
87%
7%
1% 5%
84%
10%
1% 5%
91%
5%
2% 2%
88%
8%
1% 3%
05
AGE GROUP
21-40 40-50 Above 50 Prefer not to say
DECISION MAKER
14% 19% 18% 18%
86% 81% 82% 82%
Respondents Profile (2/2)
6. Which online portal do you visit for CV info?
Mini-Truck Pickup ILCV MHCV
5%
58%
37%
7%
64%
29%
12%
55%
33%
9%
57%
34%
33% CV buyers
in the digital ecosystem visit TrucksDekho as their preferred digital partner
06
OEM Website Any TrucksDekho
7. Mini-Truck Pickup ILCV MHCV
Majority of CV buyers
prefer viewing a truck’s specification, info-graphic displays & videos
What are the best features of value on digital platforms like TrucksDekho?
8%
7%
21%
18%
28%
18%
2%
8%
17%
17%42%
14%
2%
6%
21%
17%33%
21%
4% 2%
22%
10%
42%
20%
07
Articles Dealer info Pictures Price Specifications Videos
8. Mini-Truck Pickup ILCV MHCV
More than 68%+ CV buyers
prefer to see a 360 degree video which for them is a final decision enabler
Would a 360 degree video help you finalize your buying decision?
No Yes
23%
77%
32%
68%
23%
77%
08
23%
77%
9. Mini-Truck Pickup ILCV MHCV
Majority of CV buyers
are now looking forward to online financial solutions and special online price offers
Considering COVID, what new features will you prefer in online portals?
26%
2%
35%
7%
8%
22%
16%
1%
45%
8%
9%
21% 20%
1%
39%
10%
6%
24% 19%
1%
40%
8%
11%
21%
09
All of the above Extended warranty Finance solutions Insurance options Online booking Price offers
10. Mini-Truck Pickup ILCV MHCV
50% customers, across segments,
are interested to book their next truck online. Going forward, this percentage is bound to increase
Would you be willing to book the vehicle without a test drive?
49%51%
49%51%
44%
56%
44%
56%
10
No Yes
11. Mini-Truck Pickup ILCV MHCV
75% CV buyers
have delayed their truck purchase
What effect did Lockdown have on your purchase decision?
17%
77%
6% 16%
75%
9%
17%
75%
8% 14%
76%
10%
11
Cancellation of purchase Delay No effect
12. Mini-Truck Pickup ILCV MHCV
85% customers are still willing to buy new CV products
post lockdown whereas the remaining may have changed their decision to now consider a used truck
Are you looking to buy a new CV post Lockdown?
14%
86%
15%
85%
16%
84%
18%
82%
12
No Yes
13. Mini-Truck Pickup ILCV MHCV
35% customers
are presently willing to buy new trucks within a period of 1 month post lockdown is lifted
Post lockdown, by when would you like to buy your next CV?
32%
22%9%
37%
33%
24%
7%
36% 40%
11%8%
41% 40%
11%10%
39%
13
1 month 2 months 3 months 3+ months
14. Mini-Truck Pickup ILCV MHCV
2/3rd of survey takers
derive exceptional and great value out of TrucksDekho
How would you rate your experience on TrucksDekho?
2% 3%
22%
34%
39%
4%
3%
31%
28%
34%
3%
5%
30%
29%
33%
3%
3%
26%
33%
35%
1 – Very Poor 2 – Poor 3 – Neutral 4 – Great 5 - Excellent
14
1 2 3 4 5
15. Key Findings
Viewership on TrucksDekho is dominated by FTB across segments. Traditionally,
FTBs and SFOs have always been segmented with a vehicle mix of SCV & LCV. But
this survey highlights contrasting buyer trends that are possibly a factor of the
infrastructure and regulatory disruptions in the CV industry. Such buyer groups,
e.g. – first time buyer of MHCV range of trucks, are growing with time only to
become a majority buyer base.
Majority of SCV & Pickup buyers visiting TrucksDekho help transport perishable
commodities while ILCV & MHCV buyers help transport industrial goods. This is
an intuitive trend seen across channels
TrucksDekho is majorly visited by young business owners who are also the
decision makers. Traditionally young business owners (experience less than 20-30
years) are synonymous with SCV & ILCV clientele. But this survey highlights
contrasting decision maker trends that are possibly a factor of E-commerce and
Logistics disruptions in the CV industry. Such buyers, e.g. – young decision maker
of a MHCV purchase, are also the early adopters of digital platforms and are set
to form network groups that evangelize the brand to others
More than a third of CV buyers in the digital ecosystem visit TrucksDekho as their
preferred digital partner. This is an important analogy to understand
TrucksDekho’s position in the digital customer’s top of mind recall
1
15
2
3
4
16. 16
A majority of digital CV buyers prefer viewing the truck’s specification. Thus this
feature becomes a decision enabler and needs to be nurtured jointly by OEMs
and TrucksDekho through info-graphic displays and videos. A highlight in this
analysis is the preference of CV buyers towards visual content consumption
including pictures and videos
More that 70% digital customers prefer to see a 360 degree video (inside &
outside) as a critical decision making parameter
Majority of digital CV buyers are looking forward to online financial solutions and
special online price offers. Digital channels thus gives OEMs a fresh opportunity
to present a new value proposition to the customer that is bound to act as a
major cross-selling initiative. These solutions, possibly a bottleneck traditionally,
will be a major brand-image booster as well
Almost 50% digital customers, across segments, are interested to book their next
truck online. Alternatively CV buyers would prefer that a test-drive is arranged at
their home. This establishes the need to embrace hyper-personalization as buyer
interactions become omni-channel.
75% digital buyers have delayed their truck purchase, 15% have cancelled the
purchase
5
6
7
8
9
Key Findings
17. 17
About 85% digital customers are still willing to buy new CV products post
lockdown whereas the remaining may have changed their decision to now
consider a used truck
About 35% of these customers are willing to buy new trucks within a period of 1
month post lockdown is lifted
2/3rd of survey takers derive exceptional and great value out of TrucksDekho.
This affirms that TrucksDekho, a digital representation channel for the OEM’s, has
enhanced as well as maintained OEM’s brand positioning and customer
acquisition efforts
10
11
12
Key Findings
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