Australian online classifieds set to create new record
The online classifieds in Australia has been likely expected to set the new records and break the business to the next level. The online classifieds industry is targeting to hit the A$2 billion (US$1.77 billion) milestone in 2010. This target has been reached already last year if it’s not been to the global economy recession that hits a lot of the industry. This recession has upset and confused the flow of the Australian online classifieds.
However, most of the companies still handle to have a remarkable A$1.87 billion (US$1.66 billion) advertising spend in 2009, 9.4 per cent up from 2008 figures. Since more and more companies are becoming conscious and attentive that having a business through online classifieds return more profit and investments than doing it through print media and televisions or radio advertising.
Paul Fisher, chief executive of the Interactive Advertising Bureau (IAB) in Australia said that the Sydney Morning Herald: “Advertisers spent $161 million more on online than they did in the previous year and that’s something, given what happened.”
With 15 per cent increase on the online advertising business predicted by industry experts this 2010 the Australian online classifieds ads might go beyond the total growth last year. Finally Australian online advertising this year is hoping to have A$2.15 billion (US$1.97 billion).