Against the claims recently by an Uber investor that millennials don’t care about cars, it turns out car ownership is a top priority among Millennials, according to the latest study by Carmudi, a leading online car classified.
Earlier in the year, Bill Gurley, Uber venture capitalist told CNN Money that Millennials hate cars and love convenience. And Uber is tapping into both of those trends.
“Millennials don’t give a s— about cars,” said Gurley in conversation with author Malcolm Gladwell at SXSW. “I hear parents frustrated that their kids won’t get their drivers licenses.”
But, Carmudi analyzed data based on more than six million visits to its website during May 2015, and found that the majority of users searching for cars are millennials, between 18-34 years old.
Using Carmudi Nigeria as a case study, data gathered from the company’s Lagos office reveals that 35% of all sessions in May 2015 came from the millennial age bracket, followed by 35-44 year olds (25%).
This does not come as a surprise as convenience is key for younger buyers who are more interested in using online platforms for searches and purchases.
The rise of the cheap smartphone is enabling more millennials, despite their lesser income, to gain access to the internet.
Its now more convenient than ever before for them to determine prices and specifications of products online before making a purchase.
With an estimated 1.8 billion millennials around the world, this group is the first to be born straight into the digital generation.
The internet is not a thing to Millennials; it is just the norm. Globally, 8 out of 10 of millennials are expected to make mobile purchases in the next 12 months
Amy Muoneke, the new managing director at Carmudi Nigeria said, “The shifting demographics in the emerging markets are very important for the automotive industry. Many of these countries have a tech-savvy young population, who are more comfortable using the Internet in everyday life. The millennial generation are willing to spend more money on consumer goods, and are more enthusiastic to spend time researching every little detail before buying. Automakers and car dealers notice this phenomenon and are looking for opportunities to win lifelong customers from this age group.”
Carmudi was founded in 2013 and is currently available in Bangladesh, Cameroon, Congo, Ghana, Indonesia, Ivory Coast, Mexico, Myanmar, Nigeria, Pakistan, Philippines, Qatar, Rwanda, Saudi Arabia, Senegal, Sri Lanka, Tanzania, United Arab Emirates, Vietnam, and Zambia.
The vehicle marketplace offers buyers, sellers and car dealers the ideal platform to find cars, motorcycles and commercial vehicles online.
Carmudi is the brainchild of Africa Internet Group (AIG).
AIG introduces and accelerates the online shift in Africa – for its people and its culture. It is committed to running successful and vibrant internet companies online culture.
AIG is the parent group of nine successful and fast-growing companies in more than 30 African countries, accounting for over 3,500 staff.