According to Lincoln's data, the typical luxury buyer is not buying as many items as in the past, but is spending more money on the things they do buy. They're also wine-drinking technology lovers with a taste for new clothes, as well as new cars and SUVs.
The three top features on a car, according to Lincoln's luxury buyer model, are "premium amenities," "total sales experience," and "innovative technology."
We are compelled to point out that "total sales experience" isn't an automotive feature. It's not on any spec sheet. It's not part of an equipment package.
That total sales experience does tie into the top three elements Lincoln is looking to cultivate in its dealerships, however: a concierge-style sales experience; seamless purchasing online and in-person; and 24/7 customer service.
The three most important characteristics in luxury goods purchases, per Lincoln, are "superior craftsmanship," "superior quality materials," and "superior customer experience."
We can attest to Lincoln's need to address at least the first two elements based on our past experience with the brand's vehicles. With established, proven dealer experiences at competing brands like Lexus, BMW, Mercedes-Benz, and Audi, as well as Cadillac, Lincoln--or any brand--will have a difficult time creating a customer experience that qualifies as "superior."
Interestingly, Lincoln also found that most American luxury buyers would rather spend their money on long-lasting, high-quality cars and products than on lower-quality status symbols. Whether that works for Ford and against Lincoln is open to interpretation.
So, how do you stack up on Lincoln's luxury buyer profile? Does it describe you, or does it confirm you're not part of Lincoln's target audience?