Classified advertisements have become one of the most dynamic sectors that are continuously undergoing evolution and challenges. The future remains an exciting prospect in terms of the incorporation of big data and the often increasing population of new players in the niche. The changing models of business and the uncertainty in the future outlook make it an area that needs better and in-depth considerations. In this article, we look at the future of free classified ads.
The situation is made even more complicated by the emergence of start-ups that come with disruptive models, the forceful entrance of small players that aim to make it big in the field by attracting significant investments with less capital. The current situation indicates that all these changes are becoming a reality.
Statistics indicate that there are positive feelings in the industry regarding the future of classified ads. Online classified companies are confident that the next few years will spell better fortunes for the industry in terms of performance (reach and returns). Leaders of the sector are also more determined to move the business models in classifieds towards transactional returns of 50% from the current 15% in five years.
- Competitors and new players in the market
The feeling of optimism in the sector is somehow threatened by sections of participants who are bringing in disruptive business models. Other players like new companies and the potential mergers of prominent players are also factors that may contribute to either a negative or positive change in the classified industry.
Additionally, participants are more worried about the disruption that might be brought by big players and competitors. The movement of players within the industry is a factor to be considered. Players from without the sector, such as social media platforms and conventional big players like Facebook and Google, also pose massive competition that might determine the lifeline of the classified industry.
- The impact of big data
Big data is considered as the essential factor that would drive online classified industry in the future. For years to come, this section of the economy might thrive more or wither depending on the role that big data plays.
- The significant consideration for the future
The plans that classified industries have for the sector accounts for the more significant factor that might determine where he current flows towards. As it stands, the players have mostly confirmed that they would launch new products and services as well as bring in more human resources to ensure that classified ads broaden.
Furthermore, there are strategies in place to modify the existing business models in the coming years (up to 5 years). All these changes (made and anticipated) indicate a trend of dynamism and the overall future of the classified ads industry. According to expert surveys, the whole process is immersed in changes and anticipations to a future that is full of optimism.
Take-Home
It might not be possible to predict the exact outlook of the classified ads in the future. However, the path that it is taking leads to a more improved model of performance, both in numbers and books.
