As e-commerce continues to gain its root around the world especially in Nigeria, those in the millennial bracket, who are aged between 18 and3 4 are considered its main drivers. According to a recent research by Carmudi, a leading online car classified, majority of users searching for cars are those who fall within that age bracket. 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 between 18-34 years old.
Using Carmudi Nigeria as a case study, data gathered from the company’s Lagos office reveals that 35 percent of all sessions in May 2015 came from the millennial age bracket, followed by 35-44 year olds (25%). To management of Carmudi, 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. It’s 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, eight out of 10 of millennials are expected to make mobile purchases in the next 12 months
Amy Muoneke, Managing Director at Carmudi Nigeria says 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 generations 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,” she says.
Carmudi was founded in 2013 and is currently available in Bangladesh, Cameroon, Congo, Ghana, Indonesia, Cote d’Ivoire, 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.
By Pita Ochai