The number of South Africans who shop online is expected to grow from 18 million in 2017 to 25 million in 2021, which is a big jump from where it is now. In the following two years, the average online expenditure is anticipated to reach $189.70.
William Miller and Renaldo de Jager, the co-founders of auction.co.za, feel that this rise in e-commerce will also be advantageous to automobile sales.
They believe the 'brick and click' model will alter how individuals interact financially with autos.
Statistics show that the number of millennial customers (people born between 1981 and 1996) in the car business is steadily rising.
By 2020, 40 percent of new vehicle sales in the United States will be attributable to millennials.
Most online platforms work together with car dealerships and manufacturers to deliver a hassle-free car-buying experience, but Miller and de Jager believe that auction sites make this process much easier. Auction sites provide a one-stop environment, as well as providing more cost-effective alternatives than most traditional car-purchasing practices.
Miller and de Jager say that online auction sites provide a wide range of vehicles across numerous manufacturers, and also assist buyers with additional features for their vehicles, like GPS, blue-tooth and others. Purchasing a vehicle from an online auction is a two-way transaction and excludes non-essential personnel from participating in the transaction.
With the increase of the millennial population looking to purchase vehicles, Miller and de Jager are looking to ease this process with their online auction site auction.co.za.
Source: Engineeringnews
