Meet the Millennial Car Buyer

February 21, 2022
Meet the Millennial Car Buyer

In A Car-Buying Class of Their Own

By Jennifer Landis

The Millennial generation, born between the 80s and early 2000s, accounts for over 75 million Americans. This far surpasses the baby boomer generation by over 9 million. And according to JD Power, millennials are buying more new cars than any other age group, accounting for 32% of total new-car sales in 2020.

Based on how millennials approach the car buying process, dealers have an excellent opportunity to reach this generation, with intelligent and dynamic digital marketing strategies. When developing your digital advertising plan of attack, here are a few things to take into consideration:

  • Most millennials will search elsewhere if a dealers’ website takes longer than 3 seconds to load, lacks mobile optimization, interactive features, or has poor-quality photos. 
  • Millennial car buyers read media mentions, reviews, testimonies, and research case studies to become more informed decision-makers.
  • 8 out of 10 millennial car buyers are most likely influenced by internet sensations and bloggers.
  • Because millennials are always looking to expand their digital lifestyles, they look for vehicles with advanced connectivity options.
  • Over 70% of millennials are willing to pay more for a vehicle if the quality is superior to others and requires minimal maintenance.

 

One thing is for sure; dealers should expect the millennial car buyer to have done their homework before entering the dealership. These buyers want their in-person dealership experience to be just as quick and easy as their online experience. Dealers need to have a solid digital marketing strategy to include social and video advertising, along with Connected TV (CTV) advertising in order to gain this valuable millennial market share. 

To learn more about how you can diversify your digital marketing mix to appeal to these buyers, visit purecars.com.

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