Dont give up on millennials
14 March 2016
Okay, whoever said that millennials werent interested in cars was lying. Maybe thats a slight exaggeration, but all the scare stories in recent times predicting empty showrooms but a booming trade in bicycles, bus journeys and car-sharing were just that: scare stories.
Our news story on the subject references some interesting American research on the actions and habits of millennials, concluding that it was mostly the global crash of 2009 that turned the young off from signing on the dotted line – not a general and growing disinterest in the motor car.
It figures that people suffering from poor financial circumstances would hold off on major purchases. No doubt the washing machine industry recorded a similar blip in activity. However, unlike white goods suppliers, fortunately interest in cars remains buoyant. And this is despite an explosion in personal technology and the emergence of car and ride sharing businesses competing for attention. It would appear that younger buyers still hanker after the feeling of independence when it comes to motoring. Thats good news for auto retailers on both sides of the Atlantic.
And the explosion in technology could be something you could use to your advantage. From the simple stuff like an improved infotainment system to the much publicised virtual reality concept for viewing and choosing a new car, this level of technology is exactly what young, tech-savvy consumers are interested in. Granted, theres also the Internet shopping elephant in the room, but if you can prove your worth when it comes to demonstrating the various new concepts in person, thats half the battle won already.
Auto Retail Network