Classified Sites Regional Market Growth

The online classified market is estimated to grow significantly over the next few years. Knowing the most promising regions and product categories for online classified advertising is a key to building a successful classified site. Let’s explore the fastest growing regional markets, leading product categories, and helpful business solutions.

The global online classified market is expected to reach US$32.33 billion in 2024. The rapid growth of the market is driven by the rising usage of the internet, smartphones, mobile wallets, and mobile ads. Experts predict that North America (primarily, USA and Canada) will hold the largest market share due to rising awareness for online classified ads in the region, along with the increasing number of internet users. The leading selling categories are Electronics & Accessories (17% of all sales), Clothing & Accessories (16%) and Automotive (11%).

China is one of the world’s biggest spenders on advertising, so it comes at no surprise that the online classified market will keep rapidly growing in the country. Classified ad spending in China is expected to show an annual growth rate (CAGR 2022–2026) of 6.01%, resulting in a projected market volume of US$8,938m by 2026. The most purchased products online in China include clothing, shoes, food & drinks, consumer electronics, and cosmetics. These product categories will be the leading ones in the Chinese online classified advertising market as well. Online classifieds, allow any seller to target a wide audience at a comparatively low price. However, sellers face extremely high competition on these advertising platforms. It gets more and more challenging to attract consumers to an ad, and more importantly, to build customer trust and loyalty on a classified site.