The Carvana Consumer: A Demographic Breakdown (CVNA/KMX/LAD/AN/GPI/PAG/SAH)
- After focusing on strategic optimization throughout 2023, Carvana has staged a remarkable recovery, consistently surpassing earnings expectations in 2024.
- Occam analyzes customer demographics for over 1,500 brands; the radial plot below shows which demographic groups Carvana over- or under-indexes to when compared to the general population. Values outside the black circle indicate over-indexing, while those inside indicate under-indexing.
- The chart below highlights Carvana’s strong appeal among Millennials and Gen Z, likely due to their comfort with digital platforms and social media (e.g., TikTok). It also shows over-indexing among LinkedIn users, a predominantly white-collar group, and higher-income cohorts.
- As Carvana seeks to expand its market share, Occam’s data can help evaluate whether the demographics of online car buyers are evolving toward a more mainstream profile.
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