Increasing awareness about the online classifieds and a gradual migration from print classifieds to online
Rise of the Horizontal Classifieds sites like OLX provides users a one stop shop for all their category needs
New categories like vehicles ( auto), services, education becoming increasingly important like the strong categories like Jobs, Real Estate and Matrimonial
C2C transactions are increasing due to increased disintermediation
Online marketplaces becoming a boon for SME’s (a huge and fragmented base in India) helping them find new buyers and increase their reach
Internet is going local with more and more transactions taking place within cities and towns.
India with a 50 Mn Internet population and a 400 Mn mobile population, is seeing users getting their first experience of Internet on their Mobiles
Tuesday, July 28, 2009
On OLX: Free Online Classifieds
I recently heard from OLX, an online classifieds company who own www.olx.in. As you know, I am interested in marketing, particularly in online marketing, so I was intrigued. The Country Manager for India, Amarjit Batra, has obligingly answered some questions for me. Do read through and check out the site if you're interested.
Let me know if you have any more questions that I can pass on to him. Also, if you have used OLX, tell me how the experience was.
I feel that online marketplaces which provide a great user experience, provide options on both Internet and mobile and localize to Indian consumer needs would stand to gain in the long run.
Though OLX does not verify the authenticity of each listing posted on the site, we do have certain tools and filters to check for Spams and Scams. We also have a multilingual dedicated customer support that manually screens listings and deletes those with suspect content. Over all 60% to70% of postings are deleted.
We will not enable users to rate sellers since the transaction between the buyer and seller takes place offline and we cannot authenticate the transaction. But we have a ‘Comment’ section on each listing and users can share their purchase experience with other searchers or provide feedback to the seller.
Online marketplaces are poised for a strong growth and models that allow a free flow if information between the buyers and sellers should do well. Some of the key trends in favor of online classifieds in India are: