J.D. Power, a global leader in data analytics and customer intelligence, on Jan. 24 announced its first entrée 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.
The new sales software helps automotive manufacturers, dealers, lenders, marketplaces and digital-retailing websites with the entire online sales process.
“This is a breakthrough product for an industry that is still grappling with inventory shortages caused by persistent supply chain issues,” said 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.”
Online Ordering comes at a time when 16% 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 showed new-vehicle buyers completing four of these key online activities experience have a level of satisfaction 29 points (on a 1,000-point scale) higher than those who do not purchase a car online (866 vs. 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 used by Princeton Audi in Princeton, NJ, 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) vs. when they do not use a digital device (821).
Online Ordering is a white-label offering from the J.D. Power MRaaS suite, designed to bring together the full spectrum of J.D. Power industry-leading solutions in a customizable way to power modern retailing.
Source: J.D. Power
