Traditional car dealerships are shifting toward digital means for Millennials
Trend - In the past few years, the fate of the auto industry has been called into question as Millennials increasingly decide against purchasing a car. Some car companies are looking to alleviate this by offering easier car purchasing options that leverage digital features.
Insight - It's no secret that Millennial consumers are accustomed to online shopping and the ease it offers. Though some bemoan this as a trait of a generation that is too hesitant to "grow up," this generation wants traditional adulthood through more contemporary methods. Companies within industries built on a sense of convention can both service, and impress the Millennial consumer by working against the status quo and providing ease of use.
Insight - It's no secret that Millennial consumers are accustomed to online shopping and the ease it offers. Though some bemoan this as a trait of a generation that is too hesitant to "grow up," this generation wants traditional adulthood through more contemporary methods. Companies within industries built on a sense of convention can both service, and impress the Millennial consumer by working against the status quo and providing ease of use.
Workshop Question - What is one tradition within your industry that could be challenged to accommodate the Millenial consumer?
Trend Themes
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Digital Car Purchasing Options — Offering car purchasing options that leverage digital features can service and impress the Millennial consumer, who demand ease of use and convenience.
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Online Car Sales — Offering online car sales is a popular option, as many consumers prefer the convenience of online purchases.
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Advanced Virtual Shopping Experiences — Virtual showrooms with 360-degree views, augmented reality, and new finance options offer an optimal virtual shopping experience for car shoppers.
Industry Implications
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Auto Dealerships — Traditional auto dealerships can leverage digital features to capture the Millennial consumer and compete with hyper-specific online retail sites.
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E-commerce — The trend towards offering digital purchasing options, online car sales, and advanced virtual shopping experiences demonstrate how e-commerce is revolutionizing the auto industry.
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Virtual Reality — Advanced virtual shopping experiences and virtual showrooms offer a new frontier for the auto industry and demonstrate how virtual reality technology is disrupting the industry.
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Date Range:
Aug 18 — Mar 22
Trending:
Hot
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