The Online Perception
Perhaps Buzz is a bit naive… or… maybe Woody has had a bad experience in the past. The bottom line is that you have 2 different characters, with 2 different reactions to the same activity: buying vehicles online. I selected this image because I think it truly reflects the current state of online remarketing as we continue to transition into the digital world. In fact, when you first looked at this image, you may have felt Buzz’s enthusiasm, or identified with Woody’s pain. What is important to understand is where the perception originated, and what auctions can do to improve. Before we explore the contributing factors to the online perception, let’s take a look at the existing views.
The Traditional View
For some dealers, there is a blatant resistance to buying vehicles online. The auction experience is a time-honored tradition. It is very important to be able to kick the tires, listen to the engine, look under the hood, and close the deal with a firm handshake. In addition, it’s important to engage with other local members of the industry. It’s a community.
The Intermediary View
Then there are dealers who are willing to buy online, but have established some ‘play-it-safe’ rules regarding their activity. For instance, they will only purchase vehicles that are over a specific price point. Some restrict their online purchases to Factory, Fleet Lease, or Institutional events. The majority will not purchase without a detailed condition report. Then there are those that may attend online, but send in a rep to touch the vehicle. Last but not least, you have the buyers who believe the Internet to be a great tool to conduct the preliminary research, but revert to traditionalism when it comes to the actual purchasing.
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