The Digital Classifieds market in CIS is experiencing significant growth and development due to several key factors.
Customer preferences: Customers in CIS countries are increasingly turning to digital classifieds platforms to buy and sell a wide range of products and services. The convenience and ease of use offered by these platforms, along with the ability to reach a large audience, are major drivers of their popularity. Additionally, the ability to compare prices and access a wide range of options in one place is attractive to customers.
Trends in the market: One major trend in the Digital Classifieds market in CIS is the increasing popularity of mobile apps. As smartphone penetration continues to rise in the region, more and more customers are using mobile apps to access digital classifieds platforms. This trend is driven by the convenience and portability of mobile devices, as well as the increasing availability of affordable smartphones. Another trend in the market is the growth 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 industries or types of products. This trend is driven by the desire for more targeted and relevant listings, as well as the ability to connect with a community of like-minded buyers and sellers.
Local special circumstances: One unique aspect of the Digital Classifieds market in CIS is the diverse range of languages and cultures in the region. This presents a challenge for platforms looking to expand across multiple countries, as they need to localize their services to cater to the specific needs of each market. This includes translating their platforms into multiple languages, as well as adapting their features and functionalities to suit local preferences.
Underlying macroeconomic factors: The development of the Digital Classifieds market in CIS is also influenced by underlying macroeconomic factors. Economic growth and rising disposable incomes in the region are driving increased consumer spending, which in turn fuels demand for digital classifieds platforms. Additionally, the increasing internet penetration and improving infrastructure in CIS countries are making it easier for customers to access and use these platforms. In conclusion, the Digital Classifieds market in CIS is experiencing significant growth and development due to the preferences of customers for convenience and ease of use, as well as the increasing availability of mobile apps and the growth of niche platforms. The diverse range of languages and cultures in the region presents a challenge for platforms, but the underlying macroeconomic factors of economic growth and improving infrastructure are driving the expansion 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.
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