There is an economic storm brewing, and it goes by the name Generation Z. The generation whose oldest members are now 23 years old are entering the workforce and beginning to make their impact felt as up and coming consumers.
Gen Z has never known a world where there wasn’t, literally, “an app for that.” They’ve grown up surrounded by smartphones and tablets and think about the world differently than previous generations.
This begs the question…how do we work with, and market and sell to this generation? Specifically, how does the automotive industry harness the power of this storm and ride the wave into future prosperity?
It’s a great question, especially considering this generation’s experience with (and desire for) ridesharing and digital retailing at their fingertips.
The research shows Gen Z is also more frugal and shyer about taking on debt. Having come of age during and in the aftermath of the Great Recession, they view finances almost on-par with the Silent and Greatest Generations that came of age during the Great Depression. That presents an interesting conundrum for an industry that relies on leasing and financing of their product.
We at DealerSocket think working with, and marketing and selling to Generation Z is going to be an important part of a dealership’s business for years to come. That’s why we’ve invited noted generational researcher and speaker Jason Dorsey to be our keynote speaker at DealerSocket’s User Summit.
Check out what he has to say for himself:
Want to see him in person? Register today!
No matter what generation you are, we’ll save you a seat.
Read more about what Jason has to say on Gen Z buying behaviors in a recent DealerSocket-sponsored AutoNews article on Decoding Gen Z the car buyer.