Gen Z is the biggest demographic for brands to target because of the fact that this is the sort of thing that could potentially end up securing their revenue for many years to come. Millennials are no longer the hottest demographic due to their advanced average age, and one area that Gen Z is only just now starting to enter is that of automobile purchases. Around 56% of Gen Z respondents to a CDK Global survey said that they were buying a car for the first time, but in spite of the fact that this is the case many of them are finding the purchasing process frustrating.
With all of that having been said and now out of the way, it is important to note that only 13% of these respondents were in Gen Z. However, that makes sense considering the relatively young average age of this generation. One thing that differentiates Gen Z from previous generations is their higher propensity for conducting thorough research before making a purchase.
81% of Gen Z said that they want to explore all options before deciding on a car to buy, which is higher than the 73% of millenials, 60% of Gen X and 45% of baby boomers who said the same. Interestingly, around 22% of Gen Z said that they found it difficult to buy a car online which is also higher than any other generation in this survey.
Another intriguing aspect of this survey is that Gen Z buyers are more likely to buy luxury cars than any other generation, with 39% saying that the vehicle they bought was a luxury model. Around 45% of Gen Z respondents said that having to wait ages for a sales professional to was the most frustrating aspect of this process, followed closely by hidden fees.
Members of Gen Z have gotten used to instant gratification, and since they are the biggest luxury car market right now dealerships need to automate the process for them somewhat. That will ease the friction between consumers and sellers and help increase sales down the line.
Read next: Video Predicted to Reach 71% Share of Data Traffic in 2022
With all of that having been said and now out of the way, it is important to note that only 13% of these respondents were in Gen Z. However, that makes sense considering the relatively young average age of this generation. One thing that differentiates Gen Z from previous generations is their higher propensity for conducting thorough research before making a purchase.
81% of Gen Z said that they want to explore all options before deciding on a car to buy, which is higher than the 73% of millenials, 60% of Gen X and 45% of baby boomers who said the same. Interestingly, around 22% of Gen Z said that they found it difficult to buy a car online which is also higher than any other generation in this survey.
Another intriguing aspect of this survey is that Gen Z buyers are more likely to buy luxury cars than any other generation, with 39% saying that the vehicle they bought was a luxury model. Around 45% of Gen Z respondents said that having to wait ages for a sales professional to was the most frustrating aspect of this process, followed closely by hidden fees.
Members of Gen Z have gotten used to instant gratification, and since they are the biggest luxury car market right now dealerships need to automate the process for them somewhat. That will ease the friction between consumers and sellers and help increase sales down the line.
Read next: Video Predicted to Reach 71% Share of Data Traffic in 2022
