Time Spent by Users in Swapit is up 80%

About a month ago I wrote about the Time Spent by Users in Swapit is up 91%. Now a little over 4 weeks later, that metric seems to be going up constantly. Have a look:

2017-04-10_time-spent

It’s great to see our Swapit users spending more time in our Swapit. That’s probably due to some of our recently added features, like following or the change in our web teaser sites where you can even browse most recent Swapit items with your web or mobile browser. Though, the web browsing not even count into the statistic shown above, which is for in-app behavior only.

swapit_marketing-chart-growWe are still focusing on making Swapit the most efficient marketplace for buyers and sellers, it is great to see that our Swapit users do more and more enjoy browsing it and spending time inside Swapit.

Have you tried Swapit yet? It’s free. Give it a try: http://get.swapit.la/now

Time Spent by Users in Swapit is up 91%

We’ve been working hard on making Swapit more and more useful for our buyers and sellers on Swapit. So it is great to see that our stats are up by 91% for the time our buyers and sellers spent inside our Swapit apps (Android & iOS combined) in the last 60 days compared to the 60 days before that. Here is a chart of that:

2017-03-10_time-spent

swapit_marketing-chart-growThat’s exactly what we’re working for. It is our goal to make Swapit the best trading platform for all of our buyers and our sellers. Yet an average of 5.9 minutes spent per user per day, is not even close to what social networks like Facebook for example have. However, our goal with Swapit is not to waste people’s time in our app. Our goal is very simple: Make it easy for our sellers to sell their stuff quickly and make it easy for buyers to buy products quickly. Though, it’s a good thing for us, that people appreciate our app and like to stay in there, browse around and have a good time — we do still want to make it easier and quicker for them to buy and sell. If that would mean, that the time spent inside our app goes down, then so be it. In the end, we can only be measured by the transactions that are processed through Swapit.

Have you tried Swapit yet? It’s free. Get it from: http://get.swapit.la/now

$1.5 Billion GMV on Swapit ↗️ 15x in 4 months

2017-01-01_1bln

Just a little over 4 months ago Swapit’s GMV posted on our marketplace had surpassed $100 million, but in early January we surpassed the $1.5 billion, which is $1,500 million! That’s an incredible growth if you consider that it took us 6 months to move from $0 to $1M,  11 months from $1M to $30M and just one month from $30M to $100M of GMV posted on Swapit.

That’s up +1,500% over just the last 4 months.

We’ve launched several an app updates in between, which made it easier to post items through our app, to promote it to your friends on social media and to discover new items (see Swapit AlertsMake an Offer, 60k Facebook Group, License to Kill, Best User Experience, My Likes, Swapit Referral, and more). At the same time, we’re adding more value for our users, which we prioritize mainly based on feedback we receive through surveys and direct conversations. It’s great so many reach out to me directly and that feedback makes it directly onto our feature list for upcoming releases.

So stay tuned for the next Swapit release. It’s just around the corner and will be launched soon!

Right, we’ve also given away a great prize to the winner of our POST+WIN campaign. Make sure you join!

You didn’t try Swapit yet? Download it for free at http://get.swapit.la

Swapit Traction Update – 160,000 Traders on Swapit

We are proud to announce that Swapit just recently exceeded 160,000 registered traders on our hyperlocal marketplace!

2016-12-17_traction-update_584x584

Over the past 12 months, that is an incredible increase of 2,105%! At the same time, all of our other metrics (listings, sold items, chat messages, comments, likes, etc) are growing at least at the same pace. This has a lot to do with our focus on marketplace liquidity and the growing and maturing environment of our still very young marketplace.

Have you tried Swapit yet? Go to: http://get.swapit.la/now

Want to check out our previous traction updates? Just go to the Traction category on our blog.

Focusing on Growth

img_20161016_202644_editI recently tweeted this screen shot on the right. Being super focused on growth and accelerating that growth seems to be paying off.

We’ve done a lot of things recently to ensure more and more people are coming to Swapit and trade their stuff there. We’ve been present at public events, which come with photo ops. We made it easier to share and share to all popular social media, which spreads our Swapit item links (a.k.a. web teasers) and in turn drives more users to Swapit. We’ve brought “Make an Offer” to Swapit, which results in sales closing faster and buyers and sellers being more satisfied with our platform. We’ve made it easier for sellers to cross-post their items into many buy & sell Facebook groups reaching over 700,000 people instantly. We’ve introduced Swapit Alerts, which resulted in higher user engagement – especially on the buyer side – and therefore helps to grow our user base through word of mouth by more satisfied users. We’ve grown the total GMV posted on our platform from $1M to $30M to over $100M. To make it easier for our users to post items on Swapit, we’ve made several changes to the product, which are well received by sellers.

At the same time, we’ve been working with partners to grow our user base. We ran several promotions with happy winners, we’re constantly talking to admins of groups on social media, forums, websites to collaborate. We launched Swapit on the iPhone and its users have an even higher engagement rate. We also placed some great Swapit beach umbrellas across some beaches all over Hong Kong. I am still getting friends asking me about it, because they saw one on a beach. We’ve also gotten some great media coverage over the past months, which always takes a while to kick in.

Upcoming Growth Improvements

swapit_marketing-chart-growOf course, we don’t stop here. We are constantly improving Swapit with one single goal: Increasing our marketplace liquidity. That means making buyers and sellers happier and giving them the right tools to do their trades on our platform and not somewhere else. It also means, making it easy for them to transition to Swapit. Changes in that direction are coming in the very near future. Stay tuned for what’s to come. There will be some more great drafts towards growth.

Have you tried Swapit yet? Get it from: http://get.swapit.la/now

Swapit Trading Trends in Hong Kong

Swapit’s user base is growing fast and our user engagement is growing even faster. While, we’re already getting users in countries like USA, UK, Philippines, Thailand and India, our main target market still remains to be Hong Kong. So for our core market, we are constantly monitoring the major districts of trading for us.

For you to get a general sense of how much is being traded where in Hong Kong, have a look at these two maps:

It is interesting that we can see clearly the most popular trading areas along the MTR (subway) lines of Hong Kong. That can have multiple reasons:

1) People like to meet up at MTR stations, because it’s the most efficient mode of transport in Hong Kong; and/or

2) Near MTR stations are usually the large scale residential buildings – condos, etc. So the majority of the Hong Kong people live near such subway routes.

If we however, zoom a bit further in, we can see some interesting patterns. Let’s take a look at these two areas:

Especially the Shek Kip Mei area (left map) shows clearly that the main indicator there is residential population density. MTR stations are nearby, but by far not as many items are posted right at the MTR stations, compared to the ones that are posted in residential areas.

swapit-blog_android_mapThe Central area on the other, shows clearly a concentration of item postings near the Central MTR station. Those are most likely either “Meetup” or “Work” location postings. Generally, population density in terms of residence, is rather low in Central.

If you’d like to check it out yourself, you can do that easily inside the Swapit on your Android phone or your iPhone. Just select the “Map” icon and browse your local map. You can also pan to other locations in the world, if you’d like to.

You’re not on Swapit yet? Get it from: http://get.swapit.la