Why the segment most likely to buy a luxury car might surprise you

What group of people is most likely to buy a luxury car? If you are assuming it’s someone who is older, then think again. According to Jody Devere’s article in this month’s issue of Car Biz Today Magazine (“Growth In Luxury Car Sales,”) 61 percent of buyers with a household income of $250,000 or more don’t own a luxury car!

So who is buying luxury vehicles? It’s Millennial women who are the majority of the buyers. This mean you need to understand more about how Millennial women think and operate. Today’s Millennial women are technologically connected, diverse, and educated. They prefer the speed and convenience of smartphones and email. Millennial women also tend to be more brand influenced and are quick to share their opinions with friends, family and online communities.

Iconic, engaging, and visual marketing plays an important role in ad messages that resonate with them. Furthermore, these women are social shoppers, meaning they value the social media appearance of your dealership over an anonymous review or slogan.

Another way to draw Millennial women to your dealership is to use cause-related marketing, as long as your cause means something.

Approach your marketing plans with a goal of making instant accessibility the core of your brand, so that way you can reach the number one buying segment of luxury vehicles today.

For the full article in the July issue of Car Biz Today Magazine, click here.