How digital remarketing has become the new norm during COVID-19

INSIGHT | 27 NOV, 2020

What a tumultuous year 2020 continues to be.

The latest tranche of lockdowns, firebreaks, circuit-breakers and tiered restrictions continue to impact our lives. 

Pre-COVID-19, the transition to online remarketing was seen as an inevitability, albeit at some stage far off into the future. And until then, a theoretical talking point.

However, since the March national lockdown, the main auction halls have remained shut to trade buyers, accelerating the paradigm shift from physical to online. ADESA has led the transition to online marketplaces since launching as a digital-only remarketing specialist.

Something had to change. Physical auctions were an analogue solution in a digital world. 

Vehicles spending weeks in the auction funnel accruing sky-high costs through storage fees, third party inspections and depreciation were an accepted part of the traditional remarketing process.

Those rules no longer apply. Technology has reshaped the remarketing landscape, removing antiquated processes to shorten lead times and empower fleets to finally manage their Total Cost of Disposal (TCD)

Shifting slow, unproductive processes online wasn’t just necessary—it was vital. 

And not just because it will help increase the speed of delivering vehicles to market. But because in a pandemic, it’s the smart thing to do. We live in a world where human contact is limited, where travel is restricted and people are using the internet more than before.

This year we’ve seen how more vendors have successfully gone online to defleet end of contract vehicles and dealers have logged on to buy them, many for the first time, some having previously vowed they’d never buy stock unseen online.

The rollout of technology to build trust and transparency is an ongoing part of this process.

That’s why we harnessed the power of Artificial Intelligence (AI) for our multi-award-winning ADESA Intelligent Vehicle Inspection (IVI) service. This powerful tool facilitates remote self-inspections and uses AI to generate accurate condition reports. 

For us, innovative solutions like this have always taken the lead. Our mission is to create faster, smarter and better ways for vendors and dealers to work through the transition to digital remarketing. 

Our UPSTREAM platform optimises speed to market, reduces days to sell, saves costs and is open to buyers 24/7. It’s fast, and fast saves time and money.

Disruption and uncertainty might be unavoidable aspects of what passes as the new norm, but they don’t have to impact the way vendors defleet or buyers acquire vehicles. 

The remarketing world is moving forward quickly. Digital marketplaces drive efficiency, convenience and innovation; and these tool are the smarter and safer way of transacting.

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