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.
Acxiom (NASDAQ:ACXM)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Acxiom Charts.
Acxiom (NASDAQ:ACXM)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Acxiom Charts.