Rolls Royce Aims At Younger Buyers
It is a common lament of carmakers that they have a difficult time reaching out to younger buyers. This is mostly an issue for companies that make cheaper cars, as those tend to be the only ones young people would potentially be able to buy. It’s not something you usually hear from companies like Rolls-Royce, and yet it is exactly what the company is now doing, at least in some markets. This news comes by way of the Korean media, and this is fitting, as Rolls-Royce tends to sell to a younger crowd in Asia. In fact, the average age of Rolls-Royce buyers has dropped from 53 to 45 globally over the last five years, with much of this being attributed to purchases by young tech millionaires in South Korea.
Part of this is due to the cars that Rolls-Royce is offering these days, with the Ghost and especially the Wraith being more attractive to younger buyers. But Rolls-Royce is also experimenting with different ways of marketing the cars. Where previous parties thrown by the company have been black tie affairs aimed at getting older buyers into a Phantom, events aimed at Wraith buyers have employed DJs.
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Why it matters
Also credited with having much to do with the shift in age demographics is the Bespoke program, which allows for much more serious customization than was available in years past. This means that those young tech entrepreneurs who shy away from the more conventional and conservative ideas of luxury have the ability to make the car into something more to their liking. This is probably more likely than the DJ parties as the reason for the success, but don’t rule marketing out entirely. Rolls-Royce is also attracting more female buyers of late, which is credited to marketing that shows the emotional appeal of the cars.
The Silicone Valley crowd tends to worship at the alter of Tesla, but it will be interesting to see if Rolls-Royce is able translate success with the young Asian tech crowd into success with American high-tech new money. Especially given how different a Rolls-Royce is from a Tesla, to say nothing of how much more expensive.
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