Millennial Auto Buying Insights

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Millennials, motivations, and what it means for auto manufacturers.

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The headlines paint a dismal picture of Millennials and Cars

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First, we need to understand how these “conclusions” are drawn.

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How the market typically tackles the issue:

They gather their information from man-on-the-street interviews or focus groups.

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“Hey, let’s ask this 20-something why he’s not driving a car!”

“Okay, let’s ask a dozen 20-somethings why they don’t drive cars!”

INTERCEPT FOCUS GROUP

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FOCUS GROUP

SURVEY RESEARCH

COMPILED DATA

BEHAVIOR

MEASUREMENT

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The results of this approach: Marketers need Scale and Reach

Targets and Segments over-simplify who people are Consumer data is disparate—hard to pull insights across these silos Data is disconnected from action

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Fixing the problem

“Hey, let’s ask this 20-something why he’s not driving a car!”

“Okay, let’s ask a dozen 20-somethings why they don’t drive cars!”

INTERCEPT FOCUS GROUP

Ask 200,000 people about everything and weld their responses to terabytes of behavior and offline purchase records.

IN-DEPTH ONLINE INTERVIEW PANELS

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Millennials: A Deeper Look

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IT’S ABOUT THE MONEY

They’re not buying cars, because they don’t have money.

But they will buy cars, so its important to know what they care about, what motivates them, what makes them tick.

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Millennials are the greenest generation. In theory, this is true. In practice, not so much. So we need to listen to what they say, and observe what they do.

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17% LESS LIKELY TO RECYCLE

29% LESS LIKELY TO BUY GREEN PRODUCTS

40% MORE LIKELY TO SHARE INFORMATION ONLINE ABOUT ENVIRONMENTAL IMPACT

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Millennials want innovative and exciting cars

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But that is not their #1 driver when purchasing

INNOVATIVE

FUN AND EXCITING

15%

14%

COST-EFFECTIVE

DEPENDABLE

39%

53% =  

=  

=  

=  

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What do Millennials value?

We looked into the leading motivators based on their current car ownership.

MILLENNIALS

AGE 35+

SENSE OF ACCOMPLISHMENT SELF-IMAGE PRIDE HEALTH AND

LONGEVITY

PEACE OF MIND PRESERVE ENVIRONMENT

PERSONAL FREEDOM AND CONTROL PATRIOTISM PATRIOTISM

SELF-IMAGE

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What they value differs by age and even geography

PURC

HAS

E VA

LUES

M

EDIA

NATIONAL GREAT LAKES 18-34

GREAT LAKES 18-34

GREAT LAKES

Auto: Fun and Exciting

Auto: High Quality

Auto: Energy Efficient

12.5%

36.9%

28.9%

-11%

8%

1%

10%

19%

-7%

24%

-10%

-22%

Personal Freedom

Self Preservation

Enjoyment

TV and Online Phone

Recommended Brands

“Follow” Brands

20.2%

15.8%

26.5%

7%

-10%

9%

-10%

-31%

28%

-45%

6%

-12%

29.5%

50.4%

42.8%

-10%

1%

2%

53%

19%

31%

92%

28%

14%

*Values are indexes more/less likely to be motivated to purchase based on attribute

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Millennials by Geography and Brand PU

RCH

ASE

VALU

ES

MED

IA

NATIONAL GREAT LAKES 18-34

GREAT LAKES 18-34

GREAT LAKES

Auto: Fun and Exciting

Auto: High Quality

Auto: Energy Efficient

12.5%

36.9%

28.9%

-11%

8%

1%

10%

19%

-7%

-6%

-11%

16%

Personal Freedom

Self Preservation

Enjoyment

TV and Online Phone

Recommended Brands

“Follow” Brands

20.2%

15.8%

26.5%

7%

-10%

9%

-10%

-31%

28%

-16%

-20%

16%

29.5%

50.4%

42.8%

-10%

1%

2%

53%

19%

31%

92%

5%

18%

*Values are indexes more/less likely to be motivated to purchase based on attribute

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What are they looking for?

FUEL EFFICIENCY

COST EFFECTIVENESS

32% of Chevrolet’s Millennial customers consider it to be “very important.”

Among Millennials seeking cost-effective cars, they are 46% more

likely to chose Nissan.

SEEKING INNOVATION

Honda and Ford customers are 70% more likely to value innovation than Nissan buyers.

SUSTAINABLE PRODUCTION

Toyota buyers are 50% more likely to value sustainable production than Chevrolet owners.

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What are they driving?

Current Ownership

Next Purchase Intent

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What do you do? Don’t believe the hype Dig deeper to understand why Ask, Observe, and Analyze Leverage technology to combine datasets in new ways Connect with different audiences

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UNDERSTAND WHY

Contact us today to learn how the motivations of Millennials—and all auto-buyers—can impact your future campaigns

Resonate is the only solution delivering motivations-based targeting and analytics across all digital media channels.

PHONE NUMBER EMAIL ADDRESS

703-266-3200 info@resonateinsights.com

About Resonate

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Resonate has pioneered a new model for using “big data” to develop a sophisticated understanding of consumer motivations, values, attitudes and beliefs. Marketers need to understand “why” the audiences they target take action. Resonate answers that question, while making it simple to put that knowledge to work creating positive results for political campaigns and marketing initiatives. For more information, visit: resonateinsights.com