Crowd DNA’s head of insight and innovation, Dr Matilda Andersson, talked millennials and mobility at Jaguar Land Rover TechFest...
When I was first asked to speak at Jaguar Land Rover Tech Fest, I was pretty sure they’d got the wrong person. The truth is I don’t own a car: I can’t even drive. But when I realised the panel was going to discuss millennials and mobility I felt more confident I could contribute to the debate.
As we know, owning a car isn’t the traditional marker of the transition to adulthood that it once was. The same can be said for getting married and having kids. They’re all still happening, just later or in non-traditional ways. Even if cars still play a significant role in the life of today’s millennials, the difference lies in what car ownership means: the values assigned to it, the expectations surrounding it and how it elevates the life of its driver.
But have we reached the end of the road for car ownership? This was the pressing question we were asked to talk about. Beside me on stage were some pretty impressive millennials: online star Daniel Howell, YouTube vlogger Jim Chapman, broadcaster and writer Alice Levine, Neil Sharpe (director of mobility solutions at Bosch), Yihyun Lim (associate director MIT Design Lab) – and Sebastian Peck (managing director Jaguar Land Rover InMotion), who hosted the panel.
While preparing for the debate I summarised mobility into three major shifts which formed my point of view on the day:
Millennials want flexible spaces where they can live, work and relax.
Many millennials live in smaller spaces with fewer rooms than their parents. Most live alone or with flatmates instead of their family. Others save money by living in multi-generational households. They travel more, work more and spend more time outside their homes than previous generations. As a result, millennials crave places to relax, socialise and provide privacy on the move.
As our living spaces continue to shrink and commutes get longer, the car can play its own role in creating a ‘home away from home’ for the millennial cohort.
Millennials want products and services that enhance their life experiences more fully by saving them time and reducing hassle through simple design. Technology plays a crucial role in facilitating the idea that every moment counts and that they can accomplish more in less time. Brands that enable drivers to move seamlessly from one space to the next without interruptions to their connected lifestyles are those that will succeed.
It’s not only the concept of time and space that millennials have redefined, but the idea of luxury and symbols of status. In the eyes of millennials, luxury is no longer just about expense or scarcity. A fatigue from too much luxury is driving consumers towards more casual brands and more conscientious purchases that nurture the health of themselves and the planet.
What if as the luxury market shifts, ownership of exclusive goods will increasingly compete against a demand for experiences and digital bragging rights? What if one ride in a luxury supercar posted on social media was preferable for aspirant millennials than owning vehicle themselves?
At the end of the debate, the audience at TechFest voted and – surprise, surprise – 77% of those in attendance didn’t think we’ve reached the end of the road for car ownership. I managed to get the final word: ‘Ownership might still be relevant but it’s going to change. Shared ownership is the future.’
Here’s a short film we made about these trends: