July 21, 2020
The online classified market is considered as a dynamic sector which is constantly evolving. Currently, it is facing various challenges for the future.
Likewise, the inclusion of big data and an increase in new players. Usually, new businesses having disruptive business models have the ability to move quickly and easily with less capital. It can lure big investments and based on the large players.
How is the Business Model evolving? Does the Classified Market face this future with a confident outlook?
Mitula group has proposed a report on the classified industry in collaboration with the global online classifieds. The goal of proposing this report is to take the pulse of the industry and offer solutions to these and other queries when you are trying to picturise the landscape of the classified market.
The results of the survey reveal a positive feel in the industry with regards to the future. More than half of the participants i.e. 84 per cent of people responded positive or very positive review with regards to the new few years for the classified market.
Although, it is necessary to highlight that companies do not map out to deal with TPS (Transactional Products and Services) were 8 per cent less confident, in general.
Considering the same trend, presently, 12.9 per cent of people surveyed by Mitula group assess the transaction to be a concentration of their business model at present. Even so, 35 per cent of the people expect that there will be a change to happen in the coming three to five years and their business model will ultimately change to one focused on the transaction.
It will result in a common argument that changing model is reflected in the fact that only 8.6 per cent of the people find CPC as the most relevant revenue stream. Only 0.9 per cent thinks that in the coming 3 – 5 years, it will still remain as it is.
Introduction of new players and competitors in the market
Instead of an optimistic climate of the industry, there are certain things which make the people worried. One of the most common is that 44.8 per cent are worried more about the introduction of new players and competitors in the market with disruptive business models, 11.2 per cent worry more about the start-ups with the same business model and 17.2 per cent worry about the potential merger of big companies.
82 per cent of the companies feel that their business model to be disruptive in less than five years old. This is the reason why Ortiz is convinced that disruption comes from a new start-up and not from old companies.
The most important thing for the future of the classified industry is large data. 44.8 per cent of participants consider it as the most important industry consideration for the future.
Future plans of the classified Industry
The online classified report also considers the future plans of the classified industry. 56.9 per cent of the participants feel that they will soon launch new products or services in the market. 58.6 per cent of people believe that they will hire new people in the coming year.
Additionally, 38 per cent of people want to improvise their business model in the next three to five years. These results show the dynamism in the industry and the overall strong and healthy position of the industry.
According to the results of the survey, it finds itself submerged in the process of change and move ahead with lots of opportunities. The people who are surveyed have the first access to the detailed report of the survey results and the analysis.