Millennials take a different approach to the older generations in the way they view the world & make buying decisions.
Bad news for Dealerships is that research shows that Millennials rarely buy a house or a car. They are a generation of renters.
With Millennials, values have changed. It boils down to –
- Flexibility & financial independence Millennials change jobs every three years on average. If you’re stuck with a hire purchase (old language) the chances of you changing jobs are much harder.
- Investing in experiences brings more happiness & a sense of well-being. It brings more joy.
Material things don’t make for good stories. They would much rather hear about your vacation in some exotic location than hear you blab on about your expensive car.
Buying makes Millennials worry. When buying expensive things, Millennials tend to worry about getting tied down.
Buying a car, means responsibility & commitment.
But no one can take your experiences away from you.
So, selling a new car to this generation must be measured in the form of creating an experience.
Nothing to do with good old-fashioned practicalities!
Rework your sales pitch & understand what drives this new breed of Customer.
You don’t sell them a car – sell them an experience!