Rising employment rate and Government support along with increasing internet penetration in the country were the key factors driving the demand for online classified portals in the country.
The Philippines is known as one of the fastest growing economies in south East Asia. The country is one of the promising markets for digital media industry. The increasing young population coupled with rising internet penetration in the country has majorly attributed in the growing size of Digital Advertisement market. Digital advertisement has minimized the gap between awareness, engagement and final purchase. Online Advertising Market in the Philippines is still in the developing stage as compared to other markets at the global level. The Philippines has witnessed a digital shift as brands have become more innovative in exploring digital and mobile advertising technologies. There has been a gradual shift from print media to online media in recent years owing to the increase in the number of internet users and less cost involved in the online medium. The expansion of automobile industry, real estate industry, education sector have surged the demand of skilled candidates leading to the growing number of online listings.
The government support by increasing the budget for the real estate projects and plans to create more number of jobs in education sector has also positively impacted the market size.
The acceptance of C2C ecommerce, increasing use of smart phones, growing internal migration, rising demand of used products, boost in the real estate industry are some other key factors supporting the growth in the industry. Filipino Classified Ads site ,job Classified sites Philippines, Philippines Car Listing for Sale, Job Posting site Philippines, Job street ph Classified Recruitment, Free Classified site Philippines, Post a Free Ad Philippines
The companies in the industry are doing extensive research on developing client centric solutions which will help the customers to easily use the online portals as per their requirements.
The report titled “Philippines Online Classifieds Market Outlook to 2021 – Growing Real Estate Market & Demand for Used Cars to Gain Traction in Future” by Ken Research suggested a multi bagger CAGR of 9.1% in revenue in online classifieds market in Philippines region in the next 5 years till 2021.
Ankur Gupta, Head Marketing & Communications