Union Auction celebrates rebranding, reveals plan for expand the customer base of bidders and drive market share, launches Market Place for expanding the offer to include other types of assets

Event Calendar Press Releases Friday November 30, 2018 16:26
Bangkok--30 Nov--Union Auction
"Union Auction" celebrates rebranding, reveals plan for expand the customer base of bidders and drive market share, launches "Market Place" for expanding the offer to include other types of assets

Union Auction PCL (AUCT) announces the strategies to account for the new set of customers "general users" which is a large market. By rebranding, AUCT expected to increase market share up to 4 percent (more than 80,000 units).

To meet all customers, AUCT unveils new brand presenter "DJ Petjah" and launches "Market Place" the new service to expand the number of categories of auctioned assets. AUCT also launches an application for holding e-auctions on smart devices.

Mr. Suvit Yoadjarus Chairman of Risk Management Committee , Executive Director of Union Auction PCL, shared AUCT's business module by explaining the massive potential of the used-car market. "With more than 27 years of operation, we always have focused on B2B business and have had the highest market share in the auction market. Used cars market is more than 2 million units today, more significant than new cars market that has been trading more than 900,000 vehicles.

With the visions of the executives who see the massive potential in individual car market segment (end users), AUCT would like to take this further to reach more customers. The company targeted to gain share about 4% of second-hand cars market.

Currently, more and more users are joining the "AUCT Friend" to search the information before purchase via online. AUCT decided to rebrand itself to communicate directly to the end users. AUCT want to make sure that end users are aware of the advantages of buying a car from the auction, and how differentiates Union Auction from its competitors.

The long-term goal of the company is AUCT want to be "Market Place" or the largest assets trading center of Thailand. This is not limited to car auctions only. All kinds of assets can be auctioned in AUCT's Market Place

For marketing and promotional plans and budgets for next year, AUCT would like to integrate off-line and online media. Both will be used to communicate continuously. In the last quarter of 2018, the company launched a new service to inform and to indicate AUCT in the new look and new marketing positioning. This giving AUCT the end-user segment to recognize the modern and "Fair Value" an vital communication highlight that AUCT has always considered as the principal policy.

AUCT also unveils new brand presenter "DJ Petjah" to represent AUCT to end users. His lifestyle, a car lover, is the right personality. DJ Petjah's is also a car derived from the auction car through AUCT's auction. This is a direct experience of car auctions that made AUCT confident in DJ Petjah as a presenter of the company, to represent the direct communication to the target audience.

To communicate with customers, AUCT has launched a new TVC advertising that expected to create awareness of both new and existing target audience. Even automobiles represent the most significant portion of assets auctioned at AUCT, but the company wants end users to recognized AUCT as a one-stop auction house that related to their lifestyle.

Also, AUCT unveiling "เพื่อนประมูล" a campaign to support end users to help bidders to seek funds by liaising with financial firms and consignment of car reconditioning services roadside assistance and privilege of properties for which bidding was not successful.

AUCT was also launching new application "AUCT Friend." It has been continuously evolving to meet the needs of the 4.0 era market, and also help users to find information, especially the average price information that AUCT has collected. To complement and guide the decision to buy a car, this app will use Big Data Technology to ensure the company can maintain AUCT's approach.

In the third quarter of the year, the growth rate of AUCT was better than expected. The profit margin has increased 54.33% compared to last year.

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