How Technology Impacts the Auto Auction Industry

It wasn’t very long ago that buying anything online was a novel concept. Now, in our technology-filled world, it’s hard to imagine life before online shopping existed. As the internet evolved into the fast, convenient and worldwide e-commerce marketplace it is today, the automotive auction industry has evolved right along with it.

From the early days of location-based auctions to the transition to online auctions and the onset of smartphones, apps and smart watches, the industry keeps moving forward. It is similar to the way technology keeps evolving in the automobiles we sell.

Copart became the first completely online vehicle auction in 2003. In 2016, we launched the Copart Apple Watch App. So much has happened in the last thirteen years that it’s exciting to think about where technology will take us next. As more and more people around the world gain access to internet service, wireless internet and mobile phones, the number of people completing e-commerce transactions online will continue to increase.

Mobile device usage has gone up drastically in recent years as well. According to 2015 KPCB mobile technology trends, internet users are spending 51 percent of their time on mobile devices compared to only 42 percent on desktop. Therefore, it’s critical to consider the mobile experience as an important part of the overall buyer experience.

One of the most exciting applications for technology in the automotive auction industry is the fact that a Copart Member can be at an auction location previewing vehicles for an upcoming online sale while bidding online in a current auction on a mobile device. This makes it easier for customers to multitask and ensure that they never miss out on an important bid or win.

Certainly, the companies that embrace new technology to improve the automotive auction experience will be the companies leading the way.

Stay tuned for next month’s mobile-focused post for an update on mobile trends and their impact on your business!