According to research online classifieds are booming and traditional advertising is declining.
Online monitoring firm Hitwise has found classified advertising websites in the US are up 84% compared to the same time last year. According to Hitwise the top search term in the US in March was for US online classified site Craigslist. Recession had played a big role in turing to classifieds.
“Consumers have embraced free classifieds as a way to generate income by selling personal items, while others take advantage of the deals available,” said Heather Dougherty, Hitwise research director.
Online classifieds in the UK sites such as GumTree had seen a 15% growth in traffic over the last year, according to Hitwise.
The reason for the gap between the US and the UK is down to the power of brand, thinks Robin Goad, research director at Hitwise.
“Craigslist is much bigger in the US than over here and Gumtree doesn’t have the same range,” he said.