Here are two telling articles about how online classified ads have practically dismantled the newspaper classified advertising industry. This is not really a shocker but the rate of decline is somewhat surprising. Craigslist has not done it singlehandedly, but they are definitely leading this particular sector of cyberspace.
Classified Ad Revenue Down 70 Percent in 10 Years, With One Bright Spot
Classified ads plunge to $6bn from $19.6bn in 2000
But let’s be honest…
Who wants to shell out (or any money) money to sell a piece of furniture or their 5 year old automobile? Let me guess – Not many of us because there are too many options for us not to. Plus that, online classified ads are almost real-time for registered users or other users who confirm a confirmation email. But with print advertising, it might take a few days to see your ad in circulation. Who really wants to pay for the wait?
I know some people might say that print classifieds have staying power. Yes, that might be true but when have you actually referred to an old newspaper classified ad?
