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Acxiom Corporation (NASDAQ: ACXM) unveiled its latest Automotive
Consumer Dynamics study today at the New York International Auto Show,
finding that consumers in the New York Tri-state region exhibit
dramatically different buying habits and trend-setting behaviors across
the region and compared to national averages. Acxiom’s
findings demonstrate the opportunity for automotive manufacturers,
marketers and retailers to target marketing efforts to each individual
consumer in the region.
“As the New York International Auto Show kicks
off this week, our study of the highly populated Tri-State region offers
important insights for automotive manufacturers, marketers and retailers,”
said Tim Longnecker, automotive industry executive for Acxiom. “Comprehensive,
actionable insights about individual consumers will help automotive
marketers and retailers succeed in this highly diverse region of the
country.”
The study analyzed the automotive propensities and lifestyle interests
of more than 7.4 million consumers in the Tri-State region with brand
affinity and ownership information focusing on six major automotive
brands (Chevrolet, Chrysler, Ford, Honda, Nissan and Toyota). Top
findings include:
Automotive Brand Preference: slightly more than half (52
percent) of Tri-State automotive consumers have a higher propensity to
buy a “Big Six”
brand vehicle
Dramatic Differences in Brand Performance: Tri-State consumer
affinity for European and Asian vehicle brands demonstrates a strong
three-year growth trend (84 percent and 45 percent respectively) while
affinity for the domestics continues to decline (65 percent)
Garage Mates: setting the pace for “two
of a kind,” Honda, Nissan and Toyota have
demonstrated remarkable success in placing two of their vehicles in
the same Tri-State garage
Intense Competition: the diversity within this densely
populated region requires automotive marketers to target their
marketing efforts at the best individual consumers.
Tri-State consumers exhibited significant year-over-year decreases in
their propensity for domestic vehicles and impressive increases in
propensities for both European and Asian makes. More than 55 percent of
Tri-State consumers who have one Toyota have another Toyota in their
garage; only 12 percent of Chrysler owners have another Chrysler.
Overall, Nissan is the clear brand popularity winner indexing at 270,
followed by Honda (132) and Toyota (122); domestic brands are all
substantially less popular.
However, dramatic differences occur when examining these geographies
individually:
In New York, the Nissan brand enjoys five times the brand popularity
it does across the U.S.
In New Jersey, both Nissan and Honda fall far below national
popularity levels.
In New Jersey, the Toyota brand enjoys three times the brand
popularity it does across the U.S.
Additionally, Acxiom’s research found that
the Tri-State region presents automotive manufacturers with an
interesting challenge as the diversity within the area is so great that
marketers need to tap into the unique interests and buying propensities
of these consumers to be better equipped to match messages, media,
offers and vehicles to the best individual consumers and households.
Long Island has the largest percentage of wealthy consumers in the
Tri-State region; while New York has the highest degree of income
disparity—the median household income in the
wealthiest census tract is more than 20 times that of the poorest. In
addition, lifestyle interests vary significantly across the Tri-State
region with the top three being current affairs (180), tennis (122) and
TV/cable (108). While New York sets the bar for current affairs indexing
at 316, it falls far below the national average in all other lifestyle
interests analyzed.
Automotive Consumer Dynamics is the industry’s
first comprehensive, consumer-centric view of the U.S. automotive
market. Developed from the world’s largest
repository of up-to-date U.S. consumer intelligence (InfoBase-X™)
and Acxiom’s industry leading PersonicX®
life-stage segmentation, Automotive Consumer Dynamics applies
sophisticated modeling and analyses to deliver a powerful combination of
hindsight, insight and foresight that spans over 200 million U.S.
consumers representing 124 million households and over 50 million
vehicle purchase / trade-in transactions.
This is the third in an ongoing series of monthly, consumer-centric
studies of the North American automotive industry, titled Automotive
Consumer Dynamics. To download a copy of the study, or to subscribe to
receive future editions, please visit www.acxiom.com/automotive
(no registration required).
About Automotive Consumer Dynamics
Automotive Consumer Dynamics differs from other studies and analysis
available to the industry in that it focuses on all U.S. consumers
versus a sample, is prospective (what specific vehicles consumers intend
to purchase next) versus historical (what aggregate consumers purchased
last), and the findings are immediately actionable by automotive
marketers because they provide addressability to specific individuals
and households of interest.
Automotive Consumer Dynamics categorizes all U.S. automotive consumers
into 10 consumer groups by combining the attitudes, behaviors,
intentions and current vehicle ownership of vehicle buyers across the
country. The study offers predictive, timely information that can
improve automotive marketing effectiveness and overall business
performance dramatically through more timely and targeted communications
to key prospects.
About Acxiom
Acxiom Corporation (NASDAQ: ACXM) integrates data, services and
technology to create and deliver customer and information management
solutions for many of the largest, most respected companies in the
world, including nine of the top 10 automotive manufacturers. The core
components of Acxiom’s innovative solutions
are Customer Data Integration (CDI) technology, data, database services,
IT outsourcing, risk mitigation, consulting and analytics, and privacy
leadership. Founded in 1969, Acxiom is headquartered in Little Rock,
Arkansas, with locations throughout the United States and Europe, and in
Australia, China and Canada. For more information, visit www.acxiom.com.