Where do CarGurus leads come from, and what behavior do they exhibit on our site?
Last month we looked at two of the highest-converting traffic sources for leads. This month, let’s identify the metro areas with the most engaged shoppers. We’ll use the number of unique searches performed per visitor as a proxy for engagement.
So which metros have the most involved auto shoppers?
|City||Searches per visitor, vs. national average|
|New York City||9.72% higher|
Chicago is the clear winner in this analysis – the average Chicago auto shopper conducts 13% more vehicle searches than the typical CarGurus user. New York, Boston, Milwaukee and Providence round out the top five.
What do these cities have in common, other than the fact that they’re all in the Northeast or Upper Midwest? A quick check of cost-of-living data from Payscale shows that all five metros have housing expenses that are above the national average – from 4% above, in Milwaukee’s case, to 341% above, for New York. (Ouch!)
Housing in Providence costs 35% more than the US average, while in Chicago it’s 38% more. Boston housing costs are 74% higher than the average.
Why does this matter? When you’re paying a lot to keep a roof over your head, you’re going to keep your non-housing expenditures as low as possible. That means that if you are in the market for a car, you’re going to be on the lookout for a deal.
CarGurus’ price analysis makes it easy for shoppers to identify great deals, but savvy shoppers are going to view lots of vehicles to feel confident they’re getting the most value for their money. We believe that this price sensitivity explains why CarGurus visitors in these five cities conduct more searches: They are more discerning than the average CarGurus user.
Are you a dealer in one of these five metros? Have you seen any unique behavior among your customers? Share your insights with us in the comments!
And as always, if you want to learn more about CarGurus can help grow your business, call us at (855) 293-8762 or click here.