The Millennial generation is the largest in U.S. history. As a group, Millennials are well-educated, socially conscious, and tech-savvy. To fully engage with this dominant market, in the auto buying process, your credit union needs to understand who they are and how they shop.
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History's first "digital native" generation, born between 1980-2000
Millennials will spend 17.6 hours researching their next car purchase
80% of Millennials will shop directly from their digital devices
They will check their devices, on average, 43 times a day
82% of Millennials view third-party sites as their top source of research
Millennials now represent over 1/3 of the total U.S. population
23% have a Bachelor's degree or higher, the most of any generation
Collective projected annual income of $3.4 billion by 2018
In the next ten years, 40% of all new vehicles will be sold to Millennials
Millennials are the future of your credit union. By refocusing your current marketing actions, you can win them over to your credit union and expand your presence within this highly attractive market. Cater to their values, and you will experience auto loan growth from your loyal Millennial membership.
Let GrooveCar guide your credit union to auto growth success! Click on the banner to reach out today.