With continued economic uncertainty, many shoppers remain hesitant or unable to make big-ticket purchases, especially the un- or underemployed Millennials. In response, some brands have been creating crowdfunded registries for consumers. We wrote about Best Buy’s Pitch In card back in 2010, which we described as “bridal registry meets microfinancing meets layaway”: Friend or family contributions to the card tally up to help customers secure the costlier items on their wish lists.
Now an automaker is embracing this concept. Consumers looking to buy a Dodge Dart—a compact sedan that Chrysler introduced last year—can log onto DodgeDartRegistry.com, customize the features and then seek funding for specific car parts, using social media to promote their cause. As a TV commercial outlines, “Dad sponsors the engine for your birthday. Grandma sponsors the rims for graduation.” Car seekers can ask for enough dough to fund a down payment, the car in full or anything in between. As with a Kickstarter campaign, there’s a time limit: Fundraising can run for a maximum of 90 days. At completion, buyers receive a check, with which they in theory purchase their new Dart. Since the launch earlier this month, around 1,200 people have created registries, but donations have thus far been minimal.
It’s likely the campaign will resonate with Millennials, the target audience here, who firmly believe in the collective ethos—that every bit counts in addressing today’s challenges.