Online Classified Market Trends

Growth Drivers

• Increasing Adoption of Online Classified Advertisements
  Businesses and individuals are increasingly looking for platforms where they can target a mass audience for better reach by putting in low efforts and attain business needs at a comparatively cheaper cost. Backed by the growing adoption of smartphones and computer users around the globe, along with advent in internet technology, such as 5G technology, businesses have shifted the way they used to connect to their customers. Online classified advertisements help businesses to reach their target audience and market their products and services at an affordable cost. Moreover, it allows end users to connect to the advertisers directly for products that they are searching through digital marketing services which includes text, mail and others. With the presence of several social media platforms and the increasing number of users present in social media platforms, along with the advent of digital marketing tools, which include a wide array of mobile applications, search engine marketing, social media platforms, web-based applications and others, online classified advertisements are widely adopted by both end users and advertisers which is anticipated to drive the growth of the global online classified market throughout the forecast period.
• Growing Need for Inexpensive Advertisements
  Any businesses would like to achieve business at a low operational and advertising costs. Advertising mediums such as large print ads are often too costly for small businesses. As such, there is a rising concern for the costs associated with the promotional activities for the awareness of their products. With the revolutionary impact of technology across industry verticals, and the advent of numerous online platforms, businesses have been able to target a wide mass of audience at a comparatively affordable price. These online platforms have also helped to save time and thereby achieve targets. Increasing need amongst business owners to spend less on advertisements so as to minimize their overall costs and increase profits is anticipated to drive the growth of the global online classified market.

Challenges

• Concern for Fraudulent Activities Amongst Businesses
  Increasing cases of fraudulent activities occurring around the world with businesses and the rising concern for cybercrime and cyber threats is anticipated to act as a key restraint factor towards the growth of the global online classified market.