According to a new study, Gen Z car shoppers are very unique in the way that they approach the buying process. Not only do they tend to take more time to make a purchase but they also seem to focus more on trying to use online tools. The study even found some major pain points that dealers would do well to avoid.
CDK Global, the technology company that completed the study, says that it has a singular goal: “To make it easier for dealerships of all types to excel”. Keep that in mind as we review the findings of this study that took into account more than 1,100 shoppers of all ages who recently purchased a vehicle.
Despite all of the press and stereotypes about how impatient and doltish young people are, the study found that Gen Zers actually tend to be more thoughtful about automotive purchases. 81% of Gen Zers (loosely those born from 1997 to 2012) surveyed said that understanding all of their options was their top priority before finally pulling the trigger on a new car, truck, or SUV.
Read Also: Nissan Dealers Cashing In On 7-Year Loans With APR Markup
That’s considerably more than Millennials (73%), Gen Xers (60%), and Baby Boomers (45%). 45% of those in Gen Z also ranked waiting on a salesperson as their most frustrating part of the buying process. That might explain why so many of them want to buy a car directly online and why 22% of them, more than any other generation, ranked it as more difficult.
The group also seems to prioritize luxury and comfort more than previous generations. Some 39% of Gen Z buyers picked up a luxury vehicle which is 10% more than Millenials, 12% more than Gen Xers, and 27% more than Baby Boomers. The final conclusion of the study is that making cars easier to buy for younger shoppers is vital.
“In today’s world of simple and convenient shopping experiences, we not only have to make cars easier to buy, but we also have to meet consumers where they are based on their unique needs. By implementing more seamless processes at the dealership, sales departments can work more efficiently and spend more quality time with their customers explaining products and processes in greater detail.” said Joe Tautges, COO of CDK Global.
Have you purchased a vehicle recently? How did you feel about the metrics mentioned above? Would you buy online if you could? Or does the benefit of having a live salesperson to talk to mean more to you? Let us know in the comments below.
Machboos, Souqs and Camel Racing in Doha, Qatar
Prepping For The Holidays Means Preparing For Ransomware Attacks
My aims for next year (2022-23) – Mr. Hill’s Musings