The commercial vehicle industry is experiencing a profound transformation, driven by several factors, including a rapidly evolving buyer demographic. With millennials now making up a significant portion of the workforce and Generation Z steadily growing, the expectations for how businesses acquire vehicles have fundamentally changed.

These digitally native generations demand seamless, mobile-optimized buying experiences on platforms that are intuitive and easy to navigate. This cultural shift, coupled with the increasing sophistication of digital tools, is reshaping the very landscape of commercial vehicle sales, moving beyond traditional models to embrace the efficiency and reach of online marketplaces.

What Defines a Modern Marketplace?

In a session of the Spring 2025 CVB Summit, Greg Brink, Director, North America, Eccentric, described the term Marketplace as simply “Anywhere where you’re congregating a universe of people that are exchanging goods and services.”

The scale and diversity of these platforms are immense, ranging from consumer-focused sites like Amazon to industry-specific hubs like Comvoy.com. What sets the most successful marketplaces apart is their deep understanding of buyer psychology. They meticulously analyze behaviors, optimizing the customer journey. This focus on user experience is critical, especially in specialized sectors like commercial vehicles, where tailored solutions and intuitive interfaces are paramount.

The Undeniable Advantages of Digital Marketplaces

Digital marketplaces offer compelling benefits that address the inherent complexities of the commercial vehicle industry.

Convenience and Variety

Online platforms provide unparalleled convenience, allowing businesses to explore a vast selection of vehicles and configurations from anywhere, at any time, even during global crises, and to do so as efficiently as possible.

In that same CVBS session, Kathryn Schifferle, founder and Chief Vision Officer of Work Truck Solutions, highlighted the value of digital marketplaces for the commercial vehicle industry, saying, “We launched Comvoy in November of 2019. A few months later, Covid hit, and everybody had to go home. It was perfect timing for the digital marketplace because a lot of dealers were actually closed. A crucial aspect of the Comvoy marketplace is providing equal footing for every seller. A marketplace shouldn’t be based on giving one advertiser an advantage over another just because they can pay more. The whole point of a true digital marketplace is to present the widest selection of products and the easiest way to find the vehicle that fits your needs. A true marketplace really is about helping the customer.”

Transparency 

Price transparency, while a historical challenge in the dealer community, is a cornerstone of effective marketplaces. Data consistently demonstrates that transparent pricing builds customer trust and offers a clear competitive advantage, leading to increased sales.

Schifferle punctuates this idea: “We have data now that proves that if a dealer isn’t transparently pricing inventory, they’re going to be at a measurable disadvantage, because more and more people aren’t comfortable with that.”

Visibility 

Marketplaces significantly enhance visibility, making it easier for buyers and sellers to connect, while reducing friction in the purchasing process. This streamlined interaction is vital for complex commercial vehicle acquisitions.

The commercial vehicle ecosystem extends far beyond the initial sale, encompassing financing, insurance, maintenance, warranties, and a myriad of other essential services, collectively valued at trillions of dollars. Marketplaces play a crucial role in reducing friction across this intricate web by improving transparency and ease of access for both customers and businesses.

Data, Psychology, and Innovation

The principles driving successful marketplaces are deeply rooted in human behavior and psychology. Platforms leverage data-driven insights to boost sales through strategies like suggesting “frequently bought-together” items, and AI-driven FAQs that dynamically address potential buyer concerns, accelerating purchasing decisions.

While consumer and commercial marketplaces share foundational psychological underpinnings, there are critical distinctions. In business-to-business (B2B) settings, purchasers are driven by specific business outcomes and a precise return on investment. This necessitates highly tailored data models and predictive analytics that cater to distinct business needs and behaviors.

“The elephant in the e-commerce room is Amazon,” says Brink. “They are the number one e-commerce platform in the world. They get 236 million customers a month, and if you look at their workforce, they almost have as many psychologists as they do technologists.”

Data is a powerful catalyst for transformation in commercial vehicle sales. Providing detailed data on vehicle configurations can unlock significant value for commercial vehicle dealers, enabling them to stock and sell profitable niche vehicles efficiently. There’s also enormous untapped potential in upfitting. By using data to identify customer interests, such as shelving, ladder racks, lifts, etc., marketplaces can facilitate upfit sales during vehicle purchases, increasing profits. The complexity of the commercial vehicle market, involving multiple layers of experts—OEMs, upfit manufacturers, distributors, and dealers—underscores the need for marketplaces that aggregate and integrate data from all stakeholders to provide a streamlined, user-friendly buying experience.

Technology and Demographics in the Commercial Vehicle Marketplace

Technological advancements are driving innovation in commercial vehicle marketplaces. Dynamic, visual vehicle configurators, often featuring 3D visualization and real-time adjustments, guide customers step-by-step to their ideal vehicle based on vocational requirements. These tools enhance buyer confidence and are being adapted to address unique market challenges, such as fragmented supply chains for vehicle upfits. Furthermore, API integrations with logistics providers enable the quick generation of transport quotes based on accurate vehicle data, thereby minimizing last-minute shipping issues.

The evolving buyer demographic, largely including both Millennials and Generation Z, further necessitates continuous adaptation. These generations have grown up with digital platforms and expect seamless, mobile-optimized buying experiences. Marketplaces must evolve to meet these expectations, offering intuitive digital tools that cater to varying levels of digital literacy and diverse user preferences.

A Vital Industry Embracing Change

The commercial vehicle industry, often the blue-collar backbone of the economy, is crucial, yet can be misunderstood. Facing challenges like an aging workforce, it stands to benefit immensely from modernization. Digital marketplaces and technology can play a pivotal role in making the industry more accessible and appealing to a new generation of workers and buyers. While complexities persist, the path forward for digital transformation in commercial vehicle marketplaces is clear, promising continued innovation and growth for this essential sector.

This article was excerpted from a Spring 2025 CVBS session. For more details, watch the session here or view the player below.