Everyone loves to complain about millennials. Even I, with my 1980 birth date that puts me in the first year of the generation, occasionally complain about them. Millennials may be a bunch of fussy, entitled brats, but at least we’re buying a lot of motorcycles.
According to a study by CDK Global Lightspeed reported in Powersports Business, Millennials purchased 43% of all off-road motorcycles over the course of the last year. This number is based on data from Dealership Management Software focusing on 109,000 new and used units sold between August 1, 2019 to July 31, 2020.
Next in line for buying came Generation X (born 1965-1979) at 35% of units sold, followed by 12% of purchases by Generation Z (born from 1996 on, are they even old enough to drive, really?), with Boomers (1946-1964) taking up the rear at 10%. The study also took into account the Silent Generation who consumed less than 1% of the total, probably because they’re too busy hoarding beautiful vintage machines in their garages.
Actual photo of Gen Z spending big on a motorcycle. Photo by Jonathan Borba on Unsplash
Interestingly enough, the Millennials spent the least per unit on their purchases, averaging $4,700 per bike and the toddlers in Gen Z spent the most, at an average of $5,700. This clearly affirms the fact that Millennials are spending way too much on our avocado toast and we need to get our priorities straight.
If there’s one thing that Millennials want, it’s a sense of purpose. That is to feel like we’re in control of our own lives. In a world with more people, traffic, and pandemics, riding is the perfect solution that puts us squarely in the driver’s seat to feel that sense of purpose, whether commuting or socially distanced adventuring.
If I worked in the marketing department of a motorcycle company, I would keep a close eye on these younger generations. What started with a casual ride to a bespoke brunch location to be served avocado toast by a perfectly quaffed hipster, might have just become the most important consumer demographic for the powersports industry.
Millennial dreaming of purpose and brunch. Photo by Mike Swigunski on Unsplash
Motorcycle Industry News by Eva Rupert. Follow Eva @augusteva.
