Digital Classifieds - Bulgaria

Bulgaria

Highlights

Ad spending in the Digital Classifieds market in Bulgaria is forecasted to reach US$15.00m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 1.87%, leading to an estimated market volume of US$16.76m by 2030.
When compared globally, the majority of ad spending is expected to originate from China (US$7.66bn in 2024).
The average ad spending per internet user in the General classifieds market is projected to be US$1.11 in 2024.
Within the Digital Classifieds market, 44% of the total ad spending will be attributed to mobile in 2030.
Bulgaria's digital classifieds market is experiencing a surge in user engagement, driven by increasing internet penetration and mobile usage across the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Digital Classifieds market in Bulgaria is experiencing significant growth and development. Customer preferences are shifting towards online platforms for buying and selling goods and services. This trend is driven by several factors, including convenience, a wider range of options, and the ability to easily compare prices and make informed decisions.

Customer preferences: In Bulgaria, customers are increasingly turning to digital classifieds platforms for their buying and selling needs. These platforms offer a convenient and efficient way to connect buyers and sellers, allowing transactions to be completed quickly and easily. Customers appreciate the ability to browse through a wide range of products and services, compare prices, and make informed decisions. The ease of use and accessibility of these platforms make them an attractive option for both buyers and sellers.

Trends in the market: One of the key trends in the Digital Classifieds market in Bulgaria is the increasing popularity of mobile apps. Mobile devices have become an integral part of people's lives, and this has translated into the growing use of mobile apps for buying and selling goods and services. Mobile apps offer a seamless and user-friendly experience, allowing customers to access classifieds platforms anytime and anywhere. This trend is expected to continue as smartphone penetration continues to rise in Bulgaria. Another trend in the market is the emergence of niche classifieds platforms. While general classifieds platforms continue to dominate the market, there is a growing demand for specialized platforms that cater to specific needs and interests. These niche platforms focus on specific categories such as real estate, cars, jobs, and services, providing a more targeted and tailored experience for customers. This trend reflects the increasing sophistication and diversification of customer preferences in the Digital Classifieds market in Bulgaria.

Local special circumstances: Bulgaria has a rapidly growing internet penetration rate, which is contributing to the development of the Digital Classifieds market. The country has a young and tech-savvy population, with a high level of digital literacy. This makes Bulgaria an attractive market for digital classifieds platforms, as there is a large and receptive customer base.

Underlying macroeconomic factors: The growing Digital Classifieds market in Bulgaria is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has created a favorable environment for the development of the Digital Classifieds market, as customers have more financial resources to engage in buying and selling activities. In conclusion, the Digital Classifieds market in Bulgaria is experiencing significant growth and development. Customer preferences are shifting towards online platforms, driven by convenience, a wider range of options, and the ability to easily compare prices. The market is characterized by the increasing popularity of mobile apps and the emergence of niche classifieds platforms. Bulgaria's high internet penetration rate, young and tech-savvy population, and favorable macroeconomic factors contribute to the growth of the market.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital classifieds advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers digital classifieds advertising fees paid by advertisers to display online jobs, motor, real estate, and general classifieds.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from industry association reports, third-party reports, and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, internet users, and digital consumer spending.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.