With each new generation comes a new perspective and approach to car buying. The latest group to the car-buying scene, Generation Z (Gen Z), comprises individuals born between 1997 and 2012. Compared to older generations, Gen Z buyers less often have a specific model of vehicle they’re looking at. They’ll use third-party websites to research and compare vehicles as they start car-buying.
In fact, only 24% of the Gen Z group surveyed by Kelley Blue Book noted that they knew the exact vehicle they would purchase. This falls just short of the 26% of the Millennial group, the 28% of Generation X, and 38% of Boomers.
Similarly, it took the younger generations longer to research and make a buying decision. While Boomers decided in 84 days on average, Gen Zers took approximately two months longer at 147 days.
As with many decisions, Gen Z takes cues from their parents and older generations, making choices similar to those of Millennial, Generation X, and Boomer buyers. The priorities of each generation are also highly aligned. The top factor of importance amongst each generation was durability/reliability. In contrast, the second factor was safety for all except Gen Z. Gen Z buyers prioritized affordability higher than the older groups.
Learning how different groups shop can help your team sell. What other trends have your sales team noticed in buyers?
Source: Kelley Blue Book