17th June 2020 – London: With retailers looking to meet the pent up consumer demand following the reopening of showrooms in England and Northern Ireland, Dealer Auction, the UK’s largest automotive digital wholesale marketplace, has recorded a huge increase in activity. In the first week of June, the number of auctions running on its platform saw a month-on-month increase of 135%. Compared to the first week of April, auctions have increased 210%.
Pre-COVID-19, Dealer Auction typically sees over 11,000 fresh listings each month, with over 7,000 customers using the platform. Whilst the number of sales dropped significantly during the first weeks of lockdown, as retailers began to prepare for the reopening of showrooms, they steadily increased – growing circa 400% between April and May. By 3rd June, more units had been sold on the platform than the whole of April and as of 14th June, more than April and May combined.
The number of customers on the platform (sellers/vendors and confirmed buyers) also increased between April and May, growing 47% and 229% respectively. Highlighting retailers’ eagerness for new stock, during the first week of June the number of buyers had increased 310% compared to the first week of April.
Commenting on the performance, Dealer Auction’s Chief Executive, Le Etta Pearce, said: “Retailers have faced huge uncertainty over the last 12 weeks, but fortunately consumer demand has remained high. As a result, since the reopening of showrooms in England and Northern Ireland, many retailers have found selling stock less of a challenge as some had initially feared. However, sourcing it remains a major concern.
“At a time when the industry is facing a very different retail landscape to the one it knew 12 weeks ago, our marketplace gives retailers greater confidence and a more convenient and cost effective alternative to the traditional channels. In the current climate, we believe that’s more important than ever.”
