How, When, Where and Why Millennials are Car Shopping

How, When, Where and Why Millennials are Car Shopping
 
If you're an automotive marketer and still think of millennials as teens who
only use ride-sharing services, a
<https://www.placed.com/resources/white-papers/automotive-millenial-shopping
> Placed white paper may change your mind. Fifty percent of millennials are
married, the majority are college educated, one in six makes over $60,000
annually and they account for one in five dealership visits. Furthermore,
one in three millennial dealership visits is a shopping visit.  
 
In recent years, there has been a perception that Millennials weren't and
would never be car owners because owning can be expensive and many live in
urban environments with many alternatives (ride sharing, public transit,
etc). A percentage are so eco-conscious that they're electing to go carless
in order to save the world. Yet new data from Placed.com shows an important
shift in this key market
 
As they grow up and start families, life changes for them. According to
Experian, real-world vehicle registration data shows Millennials accounted
for almost all new vehicle sales growth in North American in Q1 of this
year. But there is a lot more to be learned about their buying and showroom
traffic behavior, through location data that can help both OEMs and dealers
improve the efficiency off their marketing to this important market segment.
 
Did you know, for example that only 38% of Millennial dealer visits are
directly related to shopping for a new or used car? Or that the other 62% of
visits are primarily for repairs, parts, maintenance, promotional events
like free car washes, and administrative reasons (like making a car payment
or picking up a license plate)?  
 
 <https://www.placed.com/> Placed is one of the world's largest location
platforms using mobile phone data (volunteered by users) to directly measure
consumer traffic at retail locations. They measure, analyze and validate
billions of location data points and hundreds of millions of place features,
using a combination of established models and novel techniques to produce
the most accurate insights in the industry. They often combine this with
other user information from third-party data providers then apply
patent-pending statistical models to turn complex location data into
actionable advertising insights for retailers, marketers, and publishers. 
 
Here are some other Millennial stats from Placed that you might not know:
(the entire report is here:
<https://www.placed.com/resources/white-papers/automotive-millennial-shoppin
g>
https://www.placed.com/resources/white-papers/automotive-millennial-shopping
)
 
Dealership Brands Resonating Most With Millennial Shoppers
 

 
But Here Is Where They Are Mostly Likely to Test Drive 
 

 
And Here Is Where They Are Mostly Likely to Actually Buy
 

 
Here Is When They Are Mostly Likely to Show Up
 


 
 
 
 
 
George H. Simpson
George H. Simpson Communications 
203.521.0352
george@georgesimpson.com <mailto:george@georgesimpson.com> 
www.georgesimpson.com <http://www.georgesimpson.com>