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Luxury Vehicle Consumption Research

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  • 1. Luxury Vehicle Consumption Patterns in Central Florida Presented by Powerhouse USA, Inc.
  • 2. The Luxury Vehicle Consumer:
    • Central Florida’s luxury vehicle drivers are upscale business people with families. They consume everything from upscale cuisine to professional services, traditional and digital media, and entertainment experiences.
    • These consumers are more likely than the average Central Floridian to live in a traditional family structure, with mom dad and kids (93,000). They are extremely well-educated (46,000 have a post-graduate degree) and technically savvy consumers.
    Source: Scarborough Release 1 2008: Feb07_Jan08
  • 3. The Luxury Vehicle Consumer: Executive Urban Families
    • In addition to tending two the “traditional” family structure, luxury vehicle consumers are more affluent than the average Central Floridian. They:
    • Have higher than average incomes (34,000 earn $150K + annually)
    • Have higher home market values (100,000 own a home with a market value of $350,000 +)
    • Are more likely to be employed in a white-collar profession (171,000)
    Source: Scarborough Release 1 2008: Feb07_Jan08
  • 4. The Luxury Vehicle Consumer
    • The ethnic breakdown of luxury vehicle drivers in Central Florida is more heavily Anglo than the market in general:
    • 71% or 280,000 are non-Hispanic whites
    • 14% are Hispanic
    • 13% are non-Hispanic African Americans
    Source: Scarborough Release 1 2008: Feb07_Jan08
  • 5. The Luxury Vehicle Consumer: “Social” Entertainment Fanatics
    • Central Florida’s luxury vehicle consumers view sports and entertainment as opportunities to socialize, see and be seen. They are equally comfortable at a high school play cheering on their daughter or son as they are attending a football game at their alma mater or entertaining a client at a professional sporting event .
    • Local football: high school and college (77,000)
    • Orlando Magic Game (42,000)
    • Any professional sporting event (125,000)
    • Symphony or Opera (34,000)
    • Live Theater (90,000)
    • Ballet performance (23,000)
    Source: Scarborough Release 1 2008: Feb07_Jan08
  • 6. The Luxury Vehicle Consumer: Highly Caffeinated
    • The typical meal of a luxury vehicle consumer means stopping at Starbucks on the way to work, taking a client to an upscale restaurant for a business lunch and dinner with the whole family at a franchised family restaurant. With the demands of family and work, it’s no surprise that these consumers are more than 20% as likely as the average Central Floridian to have eaten at a sit-down restaurant 6 or more times during the course of a month.
    • Popular Fast Food Choices Popular Sit-down Restaurant Choices
    • Panera Bread Buca di Beppo
    • Chipotle Carrabba’s
    • Qdoba Seasons 52
    • Starbucks Cheesecake Factory
    • Tijuana Flats Outback Steakhouse
    Source: Scarborough Release 1 2008: Feb07_Jan08
  • 7. The Luxury Vehicle Consumer: Wine Connoisseurs
    • When dining out or hosting a dinner party, luxury vehicle drivers are more likely than the average Central Floridian to enjoy a glass of wine. They also are almost four times more likely to spend $20+ per bottle. Here are the top five types of wine preferred by the luxury vehicle owner:
    Source: Scarborough Release 1 2008: Feb07_Jan08
  • 8. The Luxury Vehicle Consumer: A Value-Conscious Shopper
    • Just because these consumers have high incomes, doesn’t mean that they’re anxious to part with their earnings. They’re shopping at Saks, Nieman’s and Nordstrom, but buying at Orlando Premium Outlets, Marshall’s and Steinmart. Here are the top five preferred purchasing destinations among those that the luxury vehicle consumer is more likely to have shopped:
    Source: Scarborough Release 1 2008: Feb07_Jan08
  • 9. The Luxury Vehicle Consumer
    • The fast-paced and upscale lifestyle of luxury vehicle drivers in Central Florida is further supported by the following information:
    • They spend more time in the car: 1 in 5 have a longer than average one-way commute for Orlando (average is 27 minutes)
    • 1 in 4 made at least one domestic business trip in the past year
    • 1 of every 5 traveled outside the country three or more times in the past three years
    • More than one-third took three or more domestic overnight vacations in the past year
    • Almost half live in a household with 2 or more incomes
    • More than one-third spend an average of $150 or more per week on groceries in addition to eating away from home
    Source: Scarborough Release 1 2008: Feb07_Jan08
  • 10. The Luxury Vehicle Consumer: Voracious for Technology
    • Luxury vehicle owners are technically savvy consumers.
    • They are:
    • More than 25% more likely as the average Central Floridian to have spent $500 or more online in the past year (123,000)
    • More than 30% as likely as the average Central Floridian to have shopped an online source for a vehicle (53,000)
    • 22% more likely than the average Central Floridian to subscribe to HDTV through the cable company– an additional 177,000 have DVR
    • More than 25% as likely as the average Central Floridian to own a Personal Digital Assistant, such as a Blackberry (47,000)
    Source: Scarborough Release 1 2008: Feb07_Jan08
  • 11. The Luxury Vehicle Consumer
    • Which media outlet best reaches the luxury vehicle driver? They are thirsty for information but have no patience for media outlets that don’t keep up with their fast-paced lifestyle. They are likely to be found simultaneously consuming several types of media including checking email on their PDA’s and streaming their favorite radio station!
    Source: Scarborough Release 1 2008: Feb07_Jan08
  • 12. What About the Service Center?
    • Central Florida drivers frequently put high mileage on their vehicles… in fact 74,000 luxury vehicle drivers put 250+ miles per week on their vehicle.
    • This means more frequent service to the vehicles.
    • Since luxury vehicle consumers are very service oriented, they are far more likely than the average Central Floridian to pay for vehicle maintenance and repair at their dealership. In fact, out of the 27% who have had a tune up in the past year, 19% have paid for the service.
    Source: Scarborough Release 1 2008: Feb07_Jan08
  • 13. Recommendations
    • Employ marketing tactics that will appeal to the “straight to the point” attitude of the consumer:
    • The luxury vehicle consumer is leading a non-stop on-the-go lifestyle, so every minute of every day is used efficiently. They are living life to the fullest and are likely to treat a car buying experience the same way. By showing them that you respect and understand their fast-paced highly-caffeinated lifestyle, your media message is much more likely to resonate and make an emotional connection.
    Source: Scarborough Release 1 2008: Feb07_Jan08
  • 14. Recommendations
    • Appeal to their taste for entertainment experiences:
    • Those who drive luxury vehicles are all about entertainment experiences: sports, music, theater, etc. By including live event sponsorships as part of an integrated marketing strategy, you will be reaching these consumers at times when they are doing what they most enjoy.
    Source: Scarborough Release 1 2008: Feb07_Jan08
  • 15. Recommendations
    • Continue to focus on the dealership’s Service Center:
    • Very few automobile consumers share the luxury vehicle driver’s need to feel important and be taken care of. These consumers are already predisposed to having their car serviced at the dealership… they just need to continue to feel good about this choice. They are always going to go where they feel they will get the best “service.”
    Source: Scarborough Release 1 2008: Feb07_Jan08