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Rise of Mobile Classifieds

India has an opportunity to lead the world
once again by becoming the first truly mobile Digital Society- A Report by
McKinsey

India has an opportunity to lead the world
once again by becoming the first truly mobile Digital Society- A Report by
McKinsey

Online Classifieds
Market which is a 65,000 crore market in India has been driving 25 percent of
its traffic through Mobile Classifieds. The Online Classifieds Market has been
gaining significant mindshare amongst Indian audiences as Online classifieds
offers a cheap and convenient way for buyers and sellers to come together and
transact, with the transactions happening in a the most convenient manner than
offline.

The market has been growing at the CAGR of 40 to 50 percent
since 2011 and the most significant driver is the accessibility of online
classifieds through mobile phones (WAP) which has been driving one-fourth of
the traffic of the overall market.

The Mobile is setting up a new revolution in the Indian
market especially when it comes to regular Internet consumption by Indians.
Within this scenario, the world’s leading online classified player OLX.in has
been investing in mobile product experiences, with a mobile first orientation
to developing online classifieds’ To this end, it has been offering a wide
array of Apps for all smartphones platforms – iOS, Android, Blackberry, Windows
Phone, Blackberry and Symbian.

Mobile driving internet usage in India, being the truly
democratic medium of accessing internet” According to the latest McKinsey
report, India’s Internet users will increase fivefold by 2015 and more than three
quarters of them will choose mobile access. All the elements are in place: the
cost of network access and handsets is going down, wireless networks are going
up, and Indian consumers are already displaying an insatiable appetite for
digital services.

According to Stat Counter, Mobile Web
usage overtook the PC based Internet in India in May 2012. The firm reports
that, last month, mobile accounted for 51.63 percent of Web usage, with desktop
devices making up the remaining 48.37 percent. That’s a first for India and it
follows a steady uptake in the share of Internet usage from mobile and tablet
devices.

According to Stat Counter’s Report – India is the world’s
first country to see Web usage dominated by mobile devices. As the price of
smartphones and other Internet-ready devices lowers, mobiles will bring more
opportunities for those experiencing the benefits of cyber space for the first
time.

Trends in bigger cities largely mimic other urban areas,
with higher smartphone ownership and fixed-line Internet access. Instead, it is
the rural areas that could benefit the most from mobile Internet since they are
typically less affluent and the existing poor infrastructure there restricts a
range of services, even those as basic as electricity or water, let alone
Internet.

According to IAMAI report on Internet Usage in India, the
Mobile has been consistently raising growth of Internet usage in Rural India by
7.2 times since 2010. Reason being the falling prices of mobile phones
especially of feature and smartphones, penetration of mobile devices in Rural
India and falling rates of Mobile subscription that have encouraged more and
more users to data plans on their mobiles.

The Online Classifieds market is set to flourish thanks to
the tremendous growth of Mobile internet in both Rural and Urban areas.

About the Author – Currently serving as CEO, Olx India,
Amarjit leads the category development efforts, executes marketing programs to
create brand awareness and formulate strategies for driving growth. Prior to
Olx, he has worked at eBay India in various capacities.

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