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SME Purchasing Dynamics Report 2020

  • ID: 5021682
  • Report
  • February 2020
  • Region: Global
  • 36 Pages
  • 360 Media Group Ltd
Why the Sme Fleet Market Provides Growth Opportunities and How to Influence Their Purchasing Decisions.

FEATURED COMPANIES

  • Audi
  • Citroen
  • Google
  • J.D Power
  • Lexus
  • Peugeot

The SME Purchasing Dynamics Report investigates the needs and attitudes of SME fleet decision-makers and outlines the approaches most likely to gain a receptive audience. With the creation of an additional 200,000 UK SME fleets in the last five years, the opportunities for growth in the UK fleet sector are obvious. What is less obvious is how to engage with them efficiently.

This report identifies strategies to influence SME fleets, explore the challenges to win hearts and minds, and reveal their needs, desires, and future outlook.

SMEs play a vital role in both their local and national economies. And they need vehicles to conduct their business. SMEs account for about one-third of the turnover of UK business and their numbers are growing. The research reveals that there are 93,817 small businesses with 10 to 50 employees that run vehicles and 13,528 medium-sized businesses with 50 to 249 employees that operate cars and vans. Overall, sub50 vehicle fleets account for 57% of the UK fleet parc.

These volumes represent huge commercial opportunities to manufacturers, leasing companies, finance houses, franchised dealerships, and aftermarket suppliers. The challenge is to deliver the right sales message at the right time to the right decision-maker (a few fleets of this size have a dedicated fleet manager).

This is a customer base that tends to stick with what it knows until something goes wrong.

It is a price-sensitive market, yet frequently relies on the vague cost of ownership estimates to justify its decisions. Unless disruptors can intervene in narrow windows of opportunity, inertia rules. However, with over 20 pain points revealed, fleet propositions rated, and influencing factors for both leasing and franchised dealers rated, the SME Purchasing Dynamics Report provides insight to inform planning, messaging and targeting.

The SME Purchasing Dynamics Report is the most comprehensive and insightful evaluation of the UK fleet market, based on a quantitative survey of 150 businesses as well as the qualitative feedback from seven focus groups (in Clean Air Zones including London, Bristol, Birmingham and Leeds). The publisher leverages extensive market knowledge, contacts, and insights to inform actions for sales & marketing professionals in the supply chain.


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Please note: 10% free customization equates to up to 3 hours of analyst time. This report is 80% complete and can be delivered within three working days post order confirmation and will include the latest impact analysis of Covid-19 in 2020 and forecast. This report is 80% complete and can be delivered within three working days post order confirmation and will include the latest impact analysis of Covid-19 in 2020 and forecast. This product will be delivered within 30 business days This product will be delivered in 1-3 business days Set not live as per supplier request: https://intranet.researchandmarkets.com/SupplierReviews/ReviewDetails/103700 Please note: 10% free customization equates to up to 3 hours of analyst time.

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Please Note: The Delegate Enterprise License grants up to 60 employees access to the De-escalation Academy with unique logins.

Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Audi
  • Citroen
  • Google
  • J.D Power
  • Lexus
  • Peugeot
  1. Executive summary
  2. Shape of UK fleet sector
  3. Who takes decisions in SME fleets
  4. SME fleet objectives, 2020-21
  5. SME purchase processes
  6. How to communicate effectively with SMEs
  7. The information SMEs seek when sourcing vehicles
  8. The criteria that determine purchasing decisions
  9. The role of franchised dealers
  10. How SMEs decide whether to lease or buy vehicles
  11. Why leasing is a remote relationship
  12. How to stop competing on price alone
  13. SME attitudes towards electric vehicles
Note: Product cover images may vary from those shown

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FEATURED COMPANIES

  • Audi
  • Citroen
  • Google
  • J.D Power
  • Lexus
  • Peugeot

The Office for National Statistics defines a Small business as one employing 10 to 49 people, and a Medium business as one employing 50 to 249 people. Figures published by the Department for Business, Energy & Industrial Strategy in October 2019 estimated that the UK has 211,295 small businesses with a combined annual turnover of £629,163m, and 35,600 medium businesses with a combined annual turnover of £639,321m. SMEs account for 33% of UK business turnover. Both small and medium businesses grew between 2018 and 2019, whereas large businesses (employing more than 250 people) plateaued.

Vehicle decision making within SMEs is typically at director level, with the senior management team signing off any new acquisitions. Other employees, including drivers, can be highly influential during the research process to create a shortlist for senior management.

Few SMEs have dedicated fleet resources – the management of vehicles is generally an adjunct to an employee’s core role. This limits the time available to make informed decisions and means contracts tick along unless there’s a ‘crisis’ with a vehicle or a supplier. As a result, opportunities for disruptors to dislodge an incumbent supplier are restricted to brief windows during the decision making process.

Unreliability of an existing vehicle is the most likely motive for an SME to wish to change the make and model of a company car or van. Vehicle downtime, particularly for light commercial vehicles, can bring businesses to a standstill. Very few businesses operate or maintain spare pool vehicles, and the specialist nature of many vans, from racking to conversions, means replacements are hard to find. As a result, reliability tops the tables of information sought when SMEs are exploring new vehicles.

SMEs are extremely budget-conscious, with cost reduction their primary objective over the next two years. Price, whether acquisition or lease rate, can maintain or undermine any fleet supply agreement. The relatively high number of lease suppliers to individual SMEs provides evidence of this cost-sensitive market where service levels have yet to distinguish one supplier from another and thereby secure long term customer loyalty. For outright purchase fleets, wholelife costs are less formally projected, with SMEs more inclined to generalise that certain brands achieve better residual values or have cheaper service and maintenance costs than others. They are also prepared to keep owned vehicles for flexible holding periods. In focus groups, some decision-makers spoke as if they were spending their ‘own’ money when sourcing vehicles, compared to managers of larger fleets spending company money.

Vehicle finance presents a mixed picture, with SMEs frequently choosing both to lease and purchase vehicles, depending on the state of their finances when they collect the keys. Healthy cash reserves nudge SMEs towards purchase, while a desire for cash flow supports leasing. Vans destined for heavy use, such as in construction, are typically bought outright to avoid end-of-contract wear and tear charges associated with leasing.

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  • Audi
  • BMW
  • Citroen
  • Ford
  • Google
  • Honda
  • J.D Power
  • Jaguar Land Rover
  • Lexus
  • Mercedez-Benz
  • Peugeot
  • Renault
  • Tesla
  • Toyota
  • Volkswagen
  • Volvo
  • What Car?
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