Online Marketplaces Industry Survey Reveals Challenging Times Ahead

March 26, 2020
Share this Post: 

A recent industry-wide survey, conducted by the Online Marketplaces Group, of 190 C-Level leaders reveals a very challenging 18 months for the online marketplace industry.

There is a very serious concern amongst C-Level leaders of online classifieds and marketplaces around the world that the impact of the Coronavirus is putting the viability of their businesses at risk.

Surveymonkey Coronavirus Survey Viability Sentiment

The detailed, 60 question survey of 190 leaders showed that 55 percent of them believed the viability of their businesses is truly at risk, with 43 percent believing they may not even survive the short term. There is anecdotal evidence of businesses already "shutting up shop" as they realize, they don't have the cash reserves to survive the rapid downturn in business.

Leaders are also pessimistic about how long the Coronavirus will have a direct impact on their business – either on their revenues (and thus their customers' businesses), the ability to work closely with their customers and the impact on their workforce.

When asked the question "how long do you expect the Coronavirus to have a direct impact on your business", the C-Level leaders indicated they expect an average of just under nine months of direct impact on their businesses.

On a region by region basis, the C-Level leaders in North America (the USA and Canada) and LATAM believe the impact will last longer, while in Africa there is relative optimism that the impact will be shorter.

However, companies will not be "out of the woods" once the immediate impact of the Coronavirus has passed. C-Level leaders believe that it will be at least another 9 months until they will return to business as usual and over 20% will need to raise capital if the impacts last more than 6 months

Surveymonkey Ana 1

It is clear to see that online classifieds and marketplaces will face at least 18 months of pain as they operate in a Coronavirus impacted business environment and then try to rebuild their businesses.

About the Impact of the Coronavirus Survey 

The Impact of the Coronavirus Survey was conducted by the Online Marketplaces Group between the 18th and 25th of March. 190 C-Level leaders from around the world completed the survey. There was a fair equal representation across all business sizes and all markets.

For more information on the survey contact [email protected]

March 26, 2020
As the founder of Online Marketplaces, Simon is a well-known industry figure who has held management and directorship positions at REA Group, PropertyFinder, Casa.it, iProperty Group, and Mitula Group among others and he continues to invest in and advise many companies in the world of online classifieds. Having been organising the Property Portal Watch conferences for over a decade, there are few in the industry that Simon doesn’t know personally. He has used all of his experience and acumen over the years to write extensively on the industry in contributions to Online Marketplaces.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Zillow No Sale
Zillow Reneges on Pledge and Cancels 400 Offers Contracts

According to local press reports from Phoenix Arizona, Zillow's iBuying division is cancelling agreements to buy around 400 homes and...

Read More
Portal Products We Like Edited
7 Great 'Under the Radar' Property Portal Products

At OnlineMarketplaces we get sent a lot of press releases around new portal products and, if we're being honest, sometimes...

Read More
Rentpay Skyline
Rent.com.au Signs Agreement to Have Leading Rentals Agency Promote its End-To-End RentPay Product

Australian rental portal and end-to-end specialist Rent.com.au has announced that it has signed an agreement with prominent rental management agency...

Read More
Immoscout24 House Value
ImmoScout24 Extends Data Cooperation Agreement with Sprengnetter for More Accurate AVM Modelling

Leading German real estate portal company Scout24 has extended its data-sharing agreement with appraisals and market data specialist Sprengnetter to...

Read More

Popular News