The topic of millennials is a hot one for many reasons, especially when it comes to consumer culture. This generation is undeniably changing the face of the product and service industry. Of course, the accessibility of technology and information plays an equally important role.
All of this converges into a new car brand I was lucky enough to get a sneak peak of a couple weeks ago. Lucky in the sense that the company, Lync & Co, flew me and a roster of other media from around the world to Berlin, Germany. Known for its modern, edgy art and nightlife scene — all cultivated by an eccentric youthful culture — it was the perfect backdrop for the launch.
Why? Because Lync & Co is the first car brand created for the millennial. These are the major points I took away from the incredible event I was invited to:
Subscription-based purchasing model
This is very similar to the concept of a traditional lease except the language speaks directly to the millennial consumer. It’s one simple way Lync & Co is distinguishing itself from other car brands.
Smart phone on wheels
Aside from the obviousness of this statement, Lync & Co is opening up its platform to enable any third party to create an app that works with the car. That also means people who have a really good idea can see it be brought to the life by the company itself.
One big issue is that millennials don’t feel compelled to purchase big ticket items anymore such as a car. First, money is always an issue. But a close second is the fact that many young people don’t want to feel tied down to anything. That nomad life is real. But purchasing a vehicle and having a built-in opportunity to share the vehicle with others (as simple as literally pushing a button) is incredible.
The Lync & Co vehicle won’t be rolling out until 2017, possibly 2018 for Canadians. Yet it’s promising to see the auto industry starting to shift towards a new model for younger consumers. “It’s a global collaboration of experts in design, engineering, software and connectivity from industry leaders like Volvo, Microsoft, Ericsson and Alibaba,” as found on its dedicated website.