A new survey by the online review community, Trustpilot, suggests that the demographic know as millennials (18-35 year olds) hold the key to your dealership’s online sales success.
The survey conducted by YouGov with over 1,500 British drivers, found that over a third (36%) of millennials confirmed they would be willing to buy a car online compared to 25% overall
As a group, millennials were also most likely to trust major online companies with 56% displaying at least moderate trust in Amazon, compared to 42% overall and just 31% for those aged 55 and over. Similarly, 33% of Millennials would be willing to buy a car from online technology giants such as Google and Apple, compared to 23% overall and just 17% of those over 55.
The group was as a whole did 82% of their research on the internet, with online reviews considered one of the most influential sources of information. 80% of millennials cited reviews as at least fairly influential, far higher than general social media which was only viewed as influential by 37%. Less influential sources for Millennial buyers include expert reviews at 52% and advertising at 39%.
Neil Bayton, Partner Director, Trustpilot, commented: “For those seeking to appeal to Millennials, the message is clear - build a compelling digital experience that provides access to the buying and service experiences of others. By doing so you’ll appeal, to Millennials on their terms as our research clearly shows this segment is ready to buy online. The winners in the industry will be those that embrace change and transformation.”