The Growing Online Classifieds Market

Whether individuals or businesses are looking for a used car, a new employee, or house for rent, their first stop is increasingly becoming the Internet. In 1999, the market for online classified advertising was US$300 million, and it is expected to grow to US$2.8 billion in 2003. While online classifieds accounted for only 1% of the overall classifieds market in 1999, that number is expected to grow to over 6% by 2004.

• Convenience and ease of use
• Powerful search and "my checklist" capabilities
• More personalized "push" services such as automatic ad alerts
• More timely and up-to-date listings
• User-friendly tools and features such as photos, video, and sound clips in online ads

Some of the greatest growth will be in the following sectors:

• Employment - online recruitment advertising is expected to grow to US$1.7 billion in 2003
• Automotive - online automotive advertising is expected to grow to US$705 million in 2003
• Business-to-Business - the B2B market is estimated to be in excess of one trillion dollars by 2004
• Niche markets - classifieds that target niches as diverse as small business owners, seniors personals, skaters in NYC, and hobbyists of all types
• Global markets - online classifieds in countries that traditionally have had a few dominant newspapers that controlled most of the classified advertising
  
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