Digital sales are becoming a bigger piece of Manheim’s overall sales, at least that’s what the numbers the company recently released seem to indicate.
In 2017, 40% of vehicles sold by Manheim were purchased through a digital screen versus in-lane, reported Manheim in a recent announcement. This meant that through 2017, 2 million vehicles at Manheim auctions were purchased through a digital transaction.
The company sold 630,000 vehicles through its pure digital platforms, such as Manheim.com, OVE, and RMS, representing 15% growth. Transactions that occurred outside of a physical auction, like sales through Simulcast, increased 30%; and in addition, the number of Simulcast sales grew 10% year-over-year.
Looking toward the year ahead, Manheim aims to connect its digital platforms into a single omnichannel experience, expand the use of its digital event app, and make improvements to its assurance portfolio.
In the first quarter, Manheim also plans to launch new search capabilities to its OVE search function. In the second quarter of 2018, the company plans to simplify the use appraisal and inventory posting process within its mobile application. And, in the third quarter, the company plans to launch a new tool that will link its various marketplaces, which will allow consignors to list inventory on multiple Manheim channels before consigning to a physical auction.
Originally posted on Automotive Fleet