J.D. Power, a data analytics and customer intelligence firm in Troy, today announced its first solution in modern retailing as a service (MRaaS) with the launch of J.D. Power Online Ordering, a product designed to reduce the friction of completing a new-vehicle transaction online.
“This is a breakthrough product for an industry that is still grappling with inventory shortages caused by persistent supply chain issues,” says Phillip Battista, president of dealership technologies and head of modern retailing at J.D. Power. “These issues are causing shoppers to bounce from dealer websites without transacting.
“Online Ordering showcases the ability of J.D. Power to combine unique company assets such as vehicle build data from Chromedata and transaction capabilities from Darwin into the industry’s only online transactional ordering system. It’s the end-to-end payment, documents, and protection system that elevates today’s online vehicle-buying experience.”
The new sales software helps automotive manufacturers, dealers, lenders, marketplaces, and digital-retailing websites with the entire online sales process. The solution comes at a time when 16 percent of new-vehicle buyers have gravitated to ordering online, according to the J.D. Power 2022 U.S. Sales Satisfaction Index (SSI) Study.
These digital mavericks’ desired journey includes browsing inventory, selecting a vehicle from available inventory, reviewing pricing and payments, negotiating purchase price, agreeing on final vehicle purchase price, receiving value for a trade-in, applying for a loan or lease, receiving credit approval for a loan or lease, reviewing extended warranty and vehicle protection options, and completing purchase paperwork.
The J.D. Power 2022 SSI Study shows that new-vehicle buyers completing four of these key online activities experience have a level of satisfaction that is 29 points (on a 1,000-point scale) higher than those who do not purchase a car online — 866 versus 837, respectively.
Features of the J.D. Power Online Ordering software include:
- New-vehicle configuration data for 39 automakers
- Factory build sheets and order codes for electronic submission
- Full transaction capabilities with e-signature
- Real-time, penny-perfect payments with all applicable taxes and incentives for 50 states
- Full trade-in capabilities; instant credit submission and score verification
- Complete online compliance
- Seamless transfer from a participating program dealer to the manufacturer
Online Ordering is being utilized by Princeton Audi in Princeton, N.J., for in-dealership foot traffic. According to the J.D. Power 2022 SSI Study and Power Information Network data, satisfaction for digital customers who complete their purchase in the showroom increases 67 points when the salesperson uses a tablet (888) compared to when they do not use a digital device (821).
