By: Bryan Krulikowski, Senior Vice President
How do you get from point A to point B? Given that 4-in-10 consumers believe their primary mode of transportation will be different five years from now than today, the answer to this is going to become increasingly complex.
The goal of the Morpace MOVETM Study that was recently fielded and is now available as a syndicated study is to help answer this question. We surveyed more than 3,000 consumers across eight U.S. metropolitan markets and uncovered some interesting consumer insights about the role of transportation and mobility in this new “Sharing Economy.”
- Overall, more than two-thirds of respondents would have their ability to get around strongly impacted by not owning their own personal vehicle.
- Although ride-sharing services are currently being used at a greater rate than car-sharing services, they are reserved for “occasional” use and not relied on as every day transportation.
- Despite lower levels of vehicle ownership, Urbanites have a stronger emotional attachment to their vehicle than Suburbanites—even going so far as to give their vehicle a name.
- Finally, fewer than one-third of respondents feel that alternative mobility solutions are practical for them. After all, consumers do not see any other option as convenient as owning a primary vehicle in the U.S.
This shouldn’t come as a major surprise. For decades, vehicles have represented freedom for many Americans. The national highway system has made it feasible to get from state to state, where driving long distances for work or play is more common than in other parts of the world.
Among the many findings in this study is the idea that the majority of consumers clearly feel that having their own vehicle is necessary. They may not use it every day, as other results from the Morpace MOVETM Study show us, but when they need their vehicle, THEY WANT IT.
The study also gives us ideas for how and when personal vehicles are used compared to other forms of transportation. Public transit, particularly in urban areas, does (and will continue to) play a role, perhaps based most on convenience and cost. One-half of respondents have access to public transportation within one mile of their residence. Still, public transportation comprises just part of the mobility puzzle for Americans today.
Morpace MOVETM found that eBike, shared bikes, and car-sharing modes show the greatest potential increase in spend in the next one to three years. But there are times that Americans want to get where they want, when they need to get there. So even for those living in some of the country’s most densely populated communities, nearly all respondents use their own vehicle at least a couple times per month. And three-quarters of current vehicle owners are planning to buy or lease a new vehicle in the next five years.
We may now be part of the “alternative mobility” movement in the U.S. Yet, the value and importance of a personal vehicle remains high for Americans because of that sense of freedom it provides – no matter where you live in this country.
Other findings and insights are available through our Morpace MOVETM Study and you can learn more by clicking here.