Cross-brand partnerships and collaborations have been Jour’s marketing tools for over a decade, but automakers are getting into the game a bit slow. Over the past few years, companies like Ford, Dodge and Volvo have worked with seemingly unrelated consumer companies to attract new customers and consolidate existing customers, which is changing the young people who think they are the first How to get a vehicle.
“Generation Z has become the most important consumer base. Bagable.comtell the observer. “Everyone, everyone across the industry, is trying to attract the consumer base and lock them into the brand. Generation Z accounts for 20 to 25% of the overall consumer market and is growing.”
Retailers and automakers have also noticed this growth. Nelson IQ A recent study released shows that Gen Z’s purchasing power is expected to grow to $12 trillion by 2030, making it the richest generation to date. Their spending is expected to exceed Research shows that by 2030, baby boomers.
Meanwhile, over the years, Headlines claim Gen Z Not as interested as previous generations in owning personal vehicles. However, over the past few years, this has begun to change to They’ve grown up. The group is still In terms of automotive, it is very focused on technology, thanks in large part to Tesla and its single-screen infotainment and Weird features such as Its childish farts, but they are also increasing Go to the dealer to buy their first car.
Generation Z still doesn’t drive a lot and shows signs of boredom with electric cars, but They still represent the big market for automakers, who are trying to get attention with unconventional products, such as the retro-style car t-shirts from Abercrombie or the lush candles made by Derfumer DS & Durga in partnership with Volvo.
Lifestyle partnerships are a meaningful source of income for automakers
Collaboration and partnerships are nothing new, but they are unique to Gen Z. “I’m reporting on these very weird, weird partnerships that go back to 2016,” said Kavilanz, a retail journalist for the CNN business, who has been around for nearly 15 years. . “These unconventional groupings start taking steps at the same time as Z matures and start deciding how brands develop their marketing strategies because [Gen Z] Being such a heavy social media user. But they are also fickle because they are young and they want something new, different. ”
It turns out that expanding the car brand to be like perfume mErcedes-Benz ownsit is also a big business. Licensing deals, collaborations and partnerships, automakers work with another company to issue special t-shirts, small-scale vehicle models, soaps, and even special boots Automakers Billions of Dollars per Year. While most automakers have not leaked their money in sales, for them, this has become meaningful income.
It’s not just a partnership between Ford and children’s cars made by Sydney Sweeney or Jeeps. High-end automakers are investing in luxury homes around the world with the “brand expansion” of their core products.
For example, there is Porsche Design Tower in Miami, The company, completed in 2016, allows residents to take Porsche to the apartment using a special elevator called “Dezervator” and park it In their home. Similarly, Bentley (owned by Volkswagen Group, just like Porsche) is currently building a luxury apartment building in Miami Equipped with four sigmoid removers. Bentley has also partnered with European luxury furniture manufacturer Luxury Living Group to create an entire range of home furniture for those who want a complete brand experience.
“For many brands that always exist, it’s important to attract new customers,” Cavellands said, noting that creative collaboration is also a crowded market. “You really have to find ways to stand out. Many of these unconventional partnerships are to break this confusion and make sure you can keep it [young consumers] Interested and excited. ” he said.
