Tuesday, Aug 21st

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Is Social Networking Cutting Into Free Online Classifieds Market?

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Many of you have seen classifieds in newspapers. The classifieds have now found a new place on internet. That’s called online classifieds. You may know or have used one before popular classifieds websites. Its free.  So what about Classifieds in India?

Well there are many free classifieds in India.  Free classifieds sites were booming in India. Online classifieds are huge hit in western coutries but I am not sure if the free classifieds concept is working out in India or not.

Back in 2007-2009, classifieds sites were popping up like weed. Every new classifieds site wanted a piece of the pie. The trend has slowed down a bit. The new trend is social media. We have surely seen a rise of Orkut, Hi5, Friendster and the latest one is Facebook.

Facebook is a monster in-itself. What started as a small group website has now turned into a billion user empire with its own IPO launch and a $38/share in NASDAQ.

So do you think Facebook might cut into the classifieds market? I personally think it can. India alone has millions of facebook users. Facebook launched its Marketshare (a social classifieds version) that helps you find out products, items etc. being offered by your friends or friends of your friends within your area.

So instead of relying on a totally stranger on the classifieds website, user would prefer to go to someone who you know.  I think that the social classifieds has a better future as it adds a face value to the classifieds posted on the site.

So if free classifieds sites want to compete, they should add a social element to their websites. Allowing users to login using Facebook/twitter/Google Plus and post the classifieds. At this point, visitors can relate to their friends or friends of friends and can trust on the classifieds.

What do you think?