Acxiom Finds Wide Demographic Disparity and Automotive Buying Habits Among Consumers in the New York Tri-State RegionSetting the
March 19 2008 - 10:01AM
Business Wire
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.
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