The Millennial generation is a predicted to be a lucrative target in 2017, estimated to spend $138 billion on light vehicles. So how can dealers tap into the massive spending power of Millennials?
Netsertive’s Automotive Expert, Gary Galloway, explains Millennial spending habits and the path they take to purchase in this article published in WardsAuto.
“It should come as no surprise that Millennials are technology dependent. They grew up using computers and cell phones and are more accustomed to having information on demand. As such, they’re known to do extensive online research before making a purchase. AutoTrader.com reports Millennials spend more than 17 hours researching their vehicle before buying. So it’s imperative dealers have a strong online presence.In the U.S., Millennials spend about 30 hours a month on social-network sites, 26 on Facebook alone.”