Online retail is seeing a big boom within South Africa as more consumers are buying things online and is expected to reach around 25 million users by 2021. During the next two years consumers are expected to spend around $18,970 online.
The co-founders of auction.co.za, William Miller and Renaldo de Jager, believe that this boom in e-commerce can also be beneficial to car sales. They are of the belief that the ‘brick and click’ concept will transform how people financially interact with automobiles. Statistics reveal that the millennial customer base (in this case, individuals born between 1981 to 1996) in the car market is steadily increasing. 40 per cent of new vehicle sales in the United States by 2020 will be attributed 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.
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