Move over millennials – Gen Z is here and they are changing how companies market and sell their products. This generation’s behaviors, tastes, and wants are unlike those of their generational predecessors, which means it’s time for marketers – especially auto dealers, to adapt to these new consumer needs.
The ABCs of Gen Z
Gen Zers, those born in the mid-1990s to mid-2000s & America’s largest demographic group (making up 25.9% of the population), have grown up with different forms of technology at their fingertips – whether it be information, music, food, or entertainment – all made life a bit more exciting with a click of a button.
Being exposed to an unprecedented amount of technology beginning at such a young age, Gen Zers are reliant on digital devices – and their shopping habits reflect it.
A common mistake that marketers make is failing to distinguish the difference between Gen Z and Millennials. While on the surface these two groups have a great deal of similarities, they must be targeted differently as consumers.
The age at which one gets their first mobile phone gets younger and younger with each generation – Gen Z will be the first generation to have owned a phone for the majority of their teenage years.
Gen Zers spend longer on mobile than on all other devices combined, using more digital platforms simultaneously – bouncing between up to five screens at the same time, compared to millennials who use up to three.
While teens have more devices than ever at their disposal, smartphones remain to be the most used.
A New Wave of Car Shoppers
With Gen Z rapidly transforming the status quo, auto markers must start accommodating the new wave of mobile-first demands.
Many dealer websites can take up to 15 seconds to load a VDP, when on average, the attention span of a Millennial is 12 seconds – and 8 seconds for Gen Z.
Businesses that don’t adapt to Gen Z’s demand for speedy and responsive customer service will not be successful in the long run. Studies show that by 2020, Gen Z will make up a staggering 40% of all consumers.
Today’s consumer trends are bound to change, but companies will benefit for years by keeping up with Gen Z’s current shopping behaviors.