PORT WASHINGTON, N.Y. -- Up to 30% of younger millennials (aged 18 to 24) said they would increase their usage of fuel additives, according to a recent study conducted by research firm The NPD Group, making them three times as likely as consumers aged 35 to 54 and six times as likely as those aged 55 and above to say they would do so.
Whether millennials upgraded their fuel at the pump or treated it with a packaged additive, they are using more additives and are more concerned than any other generation about treating their fuel, said NPD in Fuel Additives: Consumer Insights on the Uptreatment of Fuel, July 2015.
When asked why they would use more fuel additives, most millennials cited “aging vehicles,” “problems with vehicles,” “a clean engine” and “more educated about benefits” among their reasons. According to NPD’s Motor Fuels Index Database, millennials are the most likely of any generation to drive older vehicles, as 36% report that their vehicle is at least 11 years old.
Understanding that millennials are driving older cars and purchasing more fuel additives for a variety of reasons indicates that they are looking to increase their vehicle’s longevity and stretch their dollar, Port Washington, N.Y.-based NPD said.
This year, the millennial generation is expected to surpass the baby boomers and become the largest living generation in the United States. With a projected population of 75.3 million and a reported $200 billion in annual purchasing power, it is necessary for retailers, manufacturers, and marketers to understand and pay close attention to the behaviors of this newer, diverse breed of consumers.
To attract millennials, messaging around additives, cleaner engines and increased vehicle longevity may help to capture this important group of consumers, it concluded.
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