Market Insights Digital Digital Advertising

Classifieds - Rwanda

Rwanda

Ad spending in the Classifieds market is projected to reach US$1.1m in 2024.
Ad spending is expected to show an annual growth rate (CAGR 2024-2028) of 4.21%, resulting in a projected market volume of US$1.2m by 2028.
In global comparison, most ad spending will be generated in China (US$7,661m in 2024).
The average ad spending per internet user in the General classifieds market is projected to amount to US$0.1 in 2024.
In the Classifieds market, 49% of total ad spending will be generated through mobile in 2028.

Key regions: France, United Kingdom, Asia, India, Japan

Market

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Currency

Analyst Opinion

In the early 2000s, there was a significant shift in the advertising strategies for classifieds. Offline classifieds advertising was once the most popular and effective advertising strategy. For example, people used classifieds in newspapers to look for local deals. However, as the digital era has progressed, digital classifieds have surpassed all classifieds categories (real estate, automotive, jobs, and general) due to reduced costs, shorter processing times, higher return on investment, and more precise targeting.

Moreover, technology has experienced significant developments in the past years, resulting in changed usage behavior by both the advertisers and their target audiences. Internet-enabled devices have become everyday products for many people, and the internet infrastructure has become faster and more affordable. Therefore, digital tools have become a popular choice for advertisers to reach specific target groups.

Digital classifieds advertising grew the least of all digital advertising strategies (digital banner, digital video, search, and social media advertising), although it still showed a positive trend. The cost of digital classifieds advertising is significantly lower compared to other strategies, and it keeps advertisers focused on the business and its location to target consumers who are more likely to make a purchase. With these advantages, digital classifieds advertising is expected to continue developing in the coming years.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on classifieds advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers 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., Statista Global Consumer 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.