THE SHOP

October '18

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60 THE SHOP OCTOBER 2018 OCTOBER 2018 Wraps & Graphics p.68 Racks Roundup p.74 Selling Wraps p. 76 Check Your Foundation p.80 B ack in 2013, Joel Stein wrote an article for Time magazine titled "The Me, Me, Me Generation," in which he referred to millennials as "lazy, entitled narcissists who still live with their parents." While he ended that phrase with "and they'll save us all," you can still imagine how the sentiment was received initially. In fairness, the article did much more than simply shade millennials. It launched a conversation around uncertainties, fears and grumblings toward the next genera- tion of influencers. It's true: Millennials are an anomaly. And yes, they're a bit self- absorbed and indolent. But, we say... what young adult isn't? Millennials are arguably the most edu- cated, socially aware and ethnically diverse generation in history. They are incredibly tech savvy, browsing the endless frontier of the Internet for cheap concert tickets and designer flash sales, sharing selfies and perfectly lit photos of their avocado toast, all while weeding out fake news and sketchy dating profiles. And they often do this before they've even finished their morning cup of coffee. More importantly, though, when it comes to their wallets—this generation is changing the market. A DRIVING FORCE "The Electronic Age has mass-produced more than just fancy tech and gadgets. It's introduced an entirely new way of thinking about and interacting with the outside world. And when it comes to the cars we drive, millennials seem to be deter- mining the way the wind will blow. This group now represents the faction with the greatest buying power. And they've proven that future car technology will be filled with instant data connectivity and social interaction," stated The Engine Block in "Modern Car Connectivity: Future Car Technology and What to Expect." So, if you haven't developed an effective marketing and sales strategy to win mil- lennial support—you're a little late to the party. Luckily, there's still time for some brainstorming. According to Forbes, millennials now have the most buying power of any gen- eration, averaging $200 billion in annual spending across the U.S. alone. As it spe- cifically applies to the automotive industry, Automotive News reported that millennials will average approximately 40 percent of new-vehicle purchases by 2020. We said all that to say this: If said group has that much collective buying power, and we know vehicle purchases have a direct impact on the aftermarket, then isn't it in our best interests to understand the inner- workings of the influencers themselves? What inspires, infuriates and motivates By Stefanie Galeano-Zalutko TARGETING Millennials According to Forbes, millennials now have the most buying power of any generation, averaging $200 billion in annual spending across the U.S. alone. As it specifically applies to the automotive industry, Automotive News reported that millennials will average approximately 40 percent of new-vehicle purchases by 2020. (Unsplash) Shops need a strategy to connect with this vitally important demographic. 60 THE SHOP OCTOBER 2018 Audie Rich p.84 Products p.88

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