Jumpstart Automotive Media, a leading media, insights, and marketing solutions company, today released additional data from its eighth annual Insights Book that illustrates key demographic shopping trends among luxury and non-luxury shoppers. This collection of consumer shopping patterns spans Jumpstart’s portfolio of automotive websites representing 20 million in-market shoppers. Click here to download the 2017 – 2018 Insights Book.
Across Jumpstart, 34% of shoppers are researching luxury vehicles, but there have been some surprises uncovered through in-market research and when looking at shopper behavior:
Luxury owners can be younger than we typically think: 1/3 Of Luxury Owners Are Between The Ages Of 25 – 34 Years Old
Of consumers in this age group:
Affluency doesn’t always align with luxury vehicle ownership: 1/3 Of Luxury Owners Have A Household Income (HHI) Of Less Than $100K
Of consumers in this HHI classification:
Luxury Car & Truck Segments: Among luxury car segments, all categories saw declines in 2017 sales except for midsize luxury sedans (+6%) and luxury specialty cars (mostly coupes, but not sports cars; +18%). However, shopper interest on Jumpstart sites painted a slightly different picture. The main growth in luxury car interest came from the entry luxury sedan category, which was up 8%, while the midsize category was down 8%.
Among all luxury SUVs/CUVs, the full-size and midsize segments continue to hold the highest share of shopper interest on Jumpstart sites (7%). Despite this, none of the main luxury SUV/CUV segments saw growth in 2017. In fact, the only one that grew was the luxury performance SUV/CUV segment, which consists of vehicles like Audi SQ5, BMW X5 M, Porsche Cayenne Turbo, among many others.
The Luxury Purchase Cycle
Defining Luxury And Purchase Motivations
The Luxury Brand Experience
“Luxury shoppers in particular are placing increased focus on brand experience and innovation when shopping for their next vehicle,” said Libby Murad-Patel, vice president marketing and strategic insights at Jumpstart. “That being said, we’re seeing a healthy amount of cross-shopping between luxury brands, as well as luxury shoppers looking at CPO or used vehicles (+36% in 2017) and at the same time loyalty is a challenge for all automakers; this presents a great opportunity for marketers in placing greater emphasis on a vehicle’s unique values, while addressing quality, longevity, versatility and maintenance concerns up front.”
To download the 2017 – 2018 Insights Book from Jumpstart, click here.
Jumpstart Automotive Media, a division of Hearst Autos, offers high-impact and performance-driven marketing and advertising solutions that achieve optimum results. An industry thought-leader known for its in-depth shopping reports, Jumpstart connects automotive marketers with the largest, high-performing audience of car shoppers and enthusiasts through partnerships with: Car and Driver, U.S. News Best Cars, J.D. Power Cars, NADAguides, Autoweek.com, Autobytel, Autolist.com, Daily News Autos, LeftLaneNews.com, CarSoup, CarBuzz, CarStory, and VehicleHistory.com.