Do you know Generation Z? Even if not, you’ve probably heard of it many times. The generation born in the years 1997-2012 is the subject of numerous researches and studies. It also represents the generation of future consumers and those who are just entering the consumer market.

According to experts, a member of Generation Z is defined as a person who needs instant gratification, a flawless online shopping experience through social media and, above all, immediate communication through these networks.

But a recent study by CDK Global, which looked at Generation Z primarily through car purchases, found that the assumptions about this generation, which are stated above, are not necessarily true.

CDK asked more than 1,100 buyers of all ages who had recently purchased a vehicle about their car buying experience. It turned out that respondents from Generation Z spent the most time weighing decisions. Even more important is the fact that the experience of buying a car is more frustrating for the “Z” group than for any other group, and that they are the least likely to recommend the dealer from whom they bought the vehicle to others.

At this point, many car dealers might say, “why bother with Gen Z?” The answer is quite easy. The purchasing power of Generation Z is increasing year by year. According to a recent Bloomberg report, young students and professionals in this group have $360 billion in disposable income. Research also shows that they are more than 10% more interested in purchasing prestigious brands than any other generation.

This is precisely why it is wise for any vehicle dealer to figure out how to approach this generation. This is especially important today, when you are selling your entire inventory to retailers and consumer loyalty is pushed aside. But we all know that this period will end sooner or later and that thinking “they will come and buy a car themselves” will soon no longer be enough.

A seller who can establish a relationship with Generation Z consumers, nurture a one-on-one relationship with them through social networks and offer them exactly what they are looking for, is almost guaranteed with long-term success.

In the following, we offer you some solutions with which you will draw the attention of buyers from Generation Z to you.

Take your time and answer each of their questions

81% of Gen Z respondents said they want to consider various aspects of a car and other options before actually buying one.

Although answering their questions online may take a lot of your time, it is wise to take the time for them and answer anything they are interested in. It is also very important that you answer them as soon as you can. Generation Z spends their entire lives on social networks, they practically grew up with them and know them better than any other generation. If they wait too long for your answer, they will seek answers from another merchant who will quickly take the time to answer them.

Will they be able to find you?

Precisely because Generation Z mainly stays on social networks and searches for everything online, it is important that you are there too. Check if Generation Z can even find you. A prerequisite for this is a website and profiles on various social networks. For Generation Z, even Facebook is no longer enough, as they are on TikTok and Instagram. We are also very dedicated to this in our digital marketing project DigiBrief, with which we take care of building the digital infrastructure of dealers on social networks and setting up websites. If you are interested to learn more of this, you can find information here.

The presentation of your vehicles is also very important. Will Generation Z get the information they need on your website and social media? Are your photos attractive? Do you offer videos that show the vehicle inside and out? Are you advertising online? These are just the initial questions you should ask yourself to get their attention. If you want an offer that already contains all of this, you can receive it by clicking on this link.

Simplify their processes

Because of everything digital that surrounds us, it is difficult for young people today to understand that something lasts a long time. The complexity of the process always surprises them, and it is not uncommon for them to withdraw from the purchase. So try to make things easier for them and surprise them in this way. Offer them a test drive that they can book with one click, or describe in advance the process required to buy a car. It is even better if you publish it transparently on the website.

Above all, do not hide their costs until the moment just before the purchase. The research above shows that it is not as big a problem for members of Generation Z as it was for their parents, and the additional costs that they did not know about can scare them away.

Finally, just the thought that you won’t win Gen Z’s loyalty by trying to force them to play by the old rules. The game has changed, and Generation Z is aware of it. That is why they can get excited about a purchase just as quickly as they can withdraw from it.

But all research shows that the effort with representatives of this generation is very worthwhile for the trader, both in the short and long term. We also offer help on how to achieve this through the campaign below.

We entered the final quarter of 2022 a few weeks ago, and many car dealers are already looking ahead to new challenges and opportunities in 2023.

Planning for the next 12-24 months is likely to be more difficult than in the past. Media websites, such as Automotive News and CBT News, have been publishing stories about the new financial investments dealers must make to prepare for what is to come.

We reviewed the forecasts of many experts, which indicate that the period of very high used car prices will probably come to an end in 2023. This, of course, brings along an additional challenge, as it will be necessary to change business at least to some extent.

What can retailers do now to prepare for next year? Experts agree that retailers need to consider their current readiness for these changes. Due to our knowledge of the Slovenian market and its specifics, we have listed the challenges of the Slovenian used vehicle market in a few points. Where do you stand?

Analytics, analytics, analytics…

There is a great deal of emphasis in all expert opinions on the data about their business that every trader should collect. What is your RVC for each vehicle? Which vehicles do you sell the most? What are the requirements of your customers? …

Based on experience in the field, we can say that this is also a considerable weakness of the Slovenian used vehicle market. This is surprising because even the most basic analytics bring additional insight into the future and thus the possibility of adequate preparation for what is to come.

Have a sufficient supply of electric vehicles, but don’t forget the petrol!

All over the world, electric vehicles are on the rise, and despite many problems in the field of electrical infrastructure, it seems that this trend needs to be taken very seriously in the future. Even if the Slovenian market is facing the electric reality slower than elsewhere, it is clear from the results of our research among those who want to buy a vehicle in the near future, that in the last nine months an electric vehicle choice has jumped by as much as 14.6%.

But the data of our research, which we do together with the research house Valicon, also shows that petrol is still the king of all vehicle drives, because it still has a 42% share among future customers, while the share of diesel has decreased significantly.

Social networks – not only Facebook, trend is already on the TikTok

Many dealers on the Slovenian used vehicle market still do not believe in being present on social networks. But there are many reasons to move part of your business there. We invite you to read our latest blog about Generation Z, which will give you quite a few reasons why you should be present on social networks.

Data from abroad shows that, in addition to Facebook and Instagram, many merchants are now using Tik Tok, as they want to address as many different segments of potential customers as possible. In recent weeks, some Slovenian traders have also had courage, but there are many more who have not tried a single social network. We know it’s hard to start something you’re not familiar with, so we’re here to help you transition to social media as part of the Digibrief project. Send us an inquiry.

Our advertising results on social networks are very good and we prove that with the data we share on our Instagram profile, therefore we invite you to follow us there to stay up to date.

How to digitize processes as much as possible?

A new Cox Automotive survey of car buyers in 2020 and 2021 found that buyers who made more than half of their vehicle purchases online were more satisfied with the shopping experience and the time it took than those who did not even have the opportunity to look at the vehicles or book a test drive online.

The trend in the car market is also towards the digitization of the purchase process. If you give the opportunity to digitize the purchase process and give your customers the chance to do it from the comfort of their sofas, that will certainly make them very satisfied.

Consider your costs

The last bullet point is of course repeated every year, but it may be neglected precisely in years when demand and margins are high. Therefore, before a year of challenges, it may be right to look again at your costs and to define which of those are unnecessary for your business.

Do you really need 5 different programs that take up a lot of your time and at the same time cause costs? What about maintenance, software and data storage costs? How much are you paying for fuel when you drive to and from the office because you don’t have digital access to your data?

Anything that is not absolutely necessary and requires an investment of money, time or effort, can be a serious obstacle to your business in an unpredictable environment. Also here we offer you a solution, where you can get rid of many obstacles in your business for a fairly low monthly fee.

Used vehicle dealers face many obstacles when selling, which affect sales and the final result. Vehicle and customer information that is critical to delivering your service is often fragmented and dispersed. At worst, information critical to your business is delivered in a physical, non-digital form, but at best, it’s digitally littered throughout the various tools a business uses to carry out its core business.

Transferring information between different tools requires a lot of manual work and wastes valuable time, while copying individual information from one tool to another is subject to errors that can cost you a lot. It is also often noticed that information is updated more regularly in one tool, and employees are often not even aware of which tools contain duplicate and non-updated data. This problem only increases with the complexity of the business, the number of employees, and the tools your company uses.

AutoBrief is an online platform for sellers of used vehicles, which we develop specifically for the industry. At this moment, we are inviting selected retailers to both the Slovenian and Croatian markets to join us and co-design it, thereby securing special benefits.

They can use the platform anywhere and at any time, as it works in both a computer browser and a mobile device. Vehicle inventory and customer information can be updated simultaneously by multiple users of the same company, and data updates are presented in a user-friendly and transparent manner.

Do you want to add a vehicle to your inventory or mark a vehicle in your inventory as sold? With a few clicks, you can do this within the AutoBrief platform. Does the director of your company want an easy overview of the costs and earnings of an individual vehicle? We enable users to monitor the difference between the purchase and sale value of the vehicle, as well as issue various forms of documents for each vehicle (invoice, proforma invoice, delivery note, etc.).

Have you always wanted to increase sales, but can’t find the time? In the AutoBrief platform, you’ll soon be able to purchase warranties for the vehicles you sell and post vehicle ads to various online Classifieds sites with just a few clicks – no copying, pasting, or endless uploading of vehicle photos. You will also be able to automate reminders that will allow you to call the customer again after the warranty expires and earn a sales commission by selling the extended warranty.

Would you like the data to magically transfer itself into documents that you edit manually on a regular basis for each customer? On the AutoBrief platform, we have taken care of simplifying your business and can pre-fill your standard documents – contracts, test drive sheets… – in accordance with the overall graphic image of your company.

Behind the development of the AutoBrief platform stands a team with several decades of experience in the field of car sales and high-end technological products. The data you enter into the application is therefore safe and, more importantly, the sole property of your company.

Using the AutoBrief platform, your company can save valuable hours in the day and focus on its core business: selling used vehicles. Would you like to test the AutoBrief platform yourself and adapt it together with the developers to the work processes and needs of your company? Contact us and join the group of test users who will be able to use the platform completely free of charge during the trial period.