Millennials have latched onto convenient apps that provide different ridesharing options, quickly making this a preferred mode of transportation among this age group. Many benefits fit their needs in ways that speak specifically to them.
Why do millennials prefer ridesharing? Millennials are fueling the rideshare industry due to a wide range of reasons that align with the mindset, goals, and passions of the millennial generation. Some of the biggest reasons that millennials prefer ridesharing include:
- Another way to be social
- No cash, no problem
- Last-minute decision making
- Partying responsibly
- Mindfulness of the climate
All these reasons perfectly fit into the way that millennials operate and approach the world. More and more millennials are dropping their leases or selling their cars and looking for better ways to get around.
Another Way to Be Social
Uber and Lyft are great ways to get you to social events that you wouldn’t want to drive to, such as a concert, sporting event, or party where you will be drinking. But it is also a unique opportunity to meet people on the way. Whether it is your driver that you hit it off with over a conversation about who’s pet cat is crazier, or you meet a new pal in the backseat when you share a ride to save a few bucks.
Millennials like being social and everyone knowing about it. An Instagram story about your funny Uber driver or the characters you met while using rideshare is basically like currency in the millennial world. These are all social interactions that mean a lot to this generation and add value in their minds to the world of ridesharing.
No Cash, No Problem
It’s no secret that credit cards, Apple Pay, and other forms of mobile or plastic payment have taken over in recent years. Millennials do not carry cash. According to an article in the NY Post, about 41% of millennials consider paying for something with cash to be inconvenient.
Obtaining instant gratification is another concept millennials have latched onto so having their favorite rideshare app at their fingertips (literally), without needing cash, fits perfectly into their mindset.
If you have your phone, that is all you need. And you won’t catch many millennials without their phone. According to Pew research, more than 92% of millennials own a smartphone, which you need for ordering rideshares. This is another reason millennials prefer ridesharing. After all, even Instagram gets old.
Last-Minute Decision Making
To segue from millennials and their instant gratification, let’s talk about the benefit of a last-minute ride somewhere. If you live in a populated area with lots of ridesharing drivers, you can order and have a car at your door in as little as two minutes.
Millennials typically are not fans of committing to a plan far in advance. Ridesharing lets them make last-minute decisions. It also allows them to be more mobile. If you head to a bar but decide 10 minutes later that it’s not your vibe and you’re ready to move on – you can be at the next location within minutes after ordering a quick ride.
With ridesharing, millennials can create their schedule based on their needs. This generation has also fueled the gig-economy. So the benefit of being able to hop in a Lyft at the last minute because they just booked a gig on the other side of town after finishing lunch with a friend, is a big one.
Many millennials are no longer living in a world of driving your car to-and-from work every day from 9-5. Their social lives tend to be last minute, but now even their professional lives can be as well.
The millennial generation loves their wine. Let’s just put that out there. According to Business Insider, the millennial generation is evolving and changing the entire way the wine industry works, because of how much they are consuming and the ways they like to access it.
So, they like to be social, and they like to drink. But they also like to do it all responsibly. Millennials understand the convenience that ridesharing brings them. The difference between a $20 Uber and a DUI, or even worse, a severe injury or fatality in an accident, is clear to them. It is always worth the money to order a car, then to face consequences of drunk driving.
Millennials have also become the generation of “being woke” to the idea that “being smart is cool.” Some past generations would face more criticism from peers for being smart about not getting behind the wheel after a few drinks. Whereas, this millennial generation is more likely to criticize you for getting behind the wheel after a few drinks.
Mindfulness for the Climate
It’s not cool to drink and drive, but it is very cool to care about the climate. Millennials have taken charge of many discussions regarding climate change and reducing waste. This is a political generation filled with young people who want to get involved and work towards making the world a better and more sustainable place.
When you opt to jump into a Prius that is also taking two other people to different locations, it is better for the atmosphere than if all of you were doing it separately. This speaks to the millennial generation. They thrive on the idea of doing their part to reduce carbon footprints.
Millennials and the younger, Generation Z, are teaming up and requiring action in the way we approach climate change, suggests an article in The Nation. While they strive towards political reform, making these smaller changes in their day-to-day lives, like opting to rideshare, has become a popular choice.
Cost-efficient Over Purchasing a Car
It’s not necessarily that millennials dislike cars. They still like the freedom of owning a car and being able to come and go as they wish. And while they like having a nice car with all the new features, it’s not as important to them as it has been for their parents and grandparents.
Your car has always been a status symbol. People like having that brand-new BMW, or their decked-out F-150 in their driveway for their neighbors to see. But millennials are changing that narrative. They would rather have that vacation to Italy or that surf trip to Mexico. Millennials care about experiences.
So instead of putting their money into car payments, car insurance, gas, and incidental expenses that come with car ownership, they are finding ways to make ridesharing more cost-efficient so they have money to spend on experiences. It won’t always make sense for everyone to ditch the car, financially. But when you look at all the annual costs of owning a car, it adds up.
The idea of saving money on transportation and using it on travel, festivals, concerts, or other social experiences has become a more favorable move among millennials.
Why Ridesharing Works
Millennials leaning into companies like Uber or Lyft makes complete sense for where they stand societally. It fits their needs, it’s convenient, and it pairs perfectly with their lifestyles. Rideshare companies have begun capturing this spirit by pairing up with organizations hosting events knowing there will be a big turnout of millennials who will undoubtedly want to use rideshare services to get there.
The future of ridesharing will continue to evolve and adapt to the needs of its users, and much of that will be dictated by the millennial generation.