Pickles Industrial’s NSW Sales Manager Matt Blanch provides his thoughts on the industry and predictions for 2024.
As Australia’s leading marketplace for used assets, Pickles maintains that its greatest assets are actually its people. With over 800 employees across Australia, Pickles employs a range of industry experts from across several divisions.
One such expert is Pickles Industrial State Sales Manager, Matt Blanch, who started his career with Pickles in 2016 and has climbed the ranks with drive and support from the big industrial team. Now, as a leading expert in industrial sales, Matt has a front row seat to all of Australia’s current developments in the used equipment marketplace.
With the year now in full swing, Matt offers his fascinating insights on what’s to come from the rest of 2024 and beyond.
What are your predictions for 2024?
We’re seeing a big increase in the number of assets coming to market, much more than we’ve seen in the last few years. For buyers, this means a big range of stock to choose from, which will be a welcome change given the lack of assets over the last few years.
I expect this means buyers will be more selective in their purchases and spend more time shopping for equipment of a high quality.
I also suspect we’ll see an emphasis on service histories due to buyers searching for the best of the best assets.
In 2024, I predict we’ll see more consistency in the market, unlike the last few years. I think we may begin to see increased interest in businesses seeking out Pickles to remarket their equipment to an extensive buyer base.
What is your best advice for vendors/ buyers when making business moves in 2024?
For vendors, I believe that keeping detailed maintenance and repair records for equipment is the most effective way to retain equipment value when it’s time to sell. And for buyers, I recommend thorough research before jumping into auctions. For buyers seeking expert opinions on equipment, I also recommend reaching out to Pickles to get an understanding of a machine.
Providing expert opinions is a part of the Pickles service, and with 60 sales executives working exclusively in the civil and transport sections, it’s important to get friendly with your local rep so they can assist you with getting what you need, when you need it.
My general advice for any business in the industry in 2024 is that markets will come and go forever – they always go up and down so the best thing to do is commit. If you need to sell, then sell. If you need to buy, then buy. Don’t wait to try and pick the market as you could be stalling forever.
The best time for you to buy or sell is whenever you need to – don’t get caught up waiting for tides to turn.
What technological developments are on the horizon?
I expect to see a big shift in the way digital tools factor into industrial sales. Technology is making industrial equipment sales quicker, easier, and more efficient than ever before, so there will likely be an increase in digital innovations hitting the market to make transactions simple and secure for customers.
Lots of businesses in the industry are time poor, so it’s not always possible to travel for inspections or to make sales, so we’ll likely see tools for making digital purchases and asset inspections better.
For Pickles, that means expanding DIYinspect, which is an app that lets asset owners complete at-home inspections of their equipment and receive an offer of purchase, from anywhere, at any time. For remote customers, this is an easy way to maximise time when selling assets such as trucks, buses, excavators, and loaders.
Would you say the market is faster or slower than at the start of 2023?
The used equipment market has slowed substantially since the start of 2023, mostly off the back of interest rate rises, the end of the instant asset write-off threshold, and an overall more challenging economy.
How has Pickles navigated market conditions in recent years?
The business has heavily invested in its staff and technology. Our asset inspection software, paired with a huge operational team helps us to guide customers through sales with ease and confidence.
I want our vendors to have complete faith in our ability to represent their assets and I want our buyers to shop with complete confidence that they’re getting what they’re seeing from our asset listings.
For Pickles Industrial, navigating the marketplace for our business – and for others – has been a powering factor in improving all areas of operation.
From technology to tools, and from expert employees to new services, Pickles Industrial is always working to stay ahead of the curve.
Head to www.pickles.com.au/Pickles- Industrial to find what you need.
