The State of the Buy & Sell Market in Hong Kong – 2016

Swapit has seen some phenomenal growth in the year 2016 that has just passed. Our community has increased significantly and the activity on our marketplace is growing day-by-day. To ensure, we are addressing the right audience, we keep a close eye on how our users are using Swapit, what’s useful, what can be improved and especially what kind of content they like.

While we already see growing traction across the globe, our core user base is still in Hong Kong. So we have gathered all the products being posted on Swapit in 2016 and looked at their categorization. There is an interesting shift from our previous analysis in March 2016, but please have a look yourself:

So our top 3 product categories are now:

1. Fashion
2. Jewelry & Watches
3. Consumer Electronics

Compared to our previous chart from March 2016 that’s a bit of a shift. In March the top 3 categories were:

1. Consumer Electronics
2. Fashion
3. Home Appliances

I am already excited how 2017 will turn out. We have some serious changes for Swapit in the making and our growth projections are even more exciting. Stay tuned for more on that!

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

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$100 Million on Swapit ↗️ 333% in a month

Just a little over a month ago Swapit’s GMV posted on our marketplace had surpassed $30 million, but now we just surpassed the $100 million. That’s an incredible growth if you consider that it took us 11 months to move from $1M to $30M of GMV posted on Swapit.

That’s up +333% over just the last month.

We’ve launched an app update 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 Alerts and Make an Offer). 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 INVITE+WIN campaign, we got accepted into the Cyberport Incubation Programme, .

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

$30 Million on Swapit ↗️ 30,000%

Over the last weekend, Swapit’s GMV posted on our marketplace has surpassed $30 million. That’s an incredible growth if you consider that only 11 months ago we surpassed the $1M mark of GMV posted on Swapit.

That’s a total increase of +30,000% over the last 11 months.

Over the past two weeks, we’ve seen a very good number of new items being posted on Swapit due to our SELL+WIN promotion and perhaps the funny videos we published.

We are currently working hard on getting the next Swapit update to you. It will be Android beta 13 and iPhone beta 4. It will launch with a great new unique feature that utilizes our efficient buyer/seller matching based on our proprietary spacial algorithms, combined with instant push notifications. In the end, buyers will get a new way to customize their experience and sellers will be able to close deals faster. Stay tuned for the next update coming your way very soon!

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

Swapit Traction Update – April 1st +82% User Growth in One Month

On March 1st we had a great 31,810 users on Swapit. Today on April 1st, 2016 Swapit has continued to grow to a good 58,138 users!

Compared to our last month’s 82% growth of users, we managed to grow at a surprisingly steady pace in the past thirty-one days at about 83% month-over-month.

Have you downloaded Swapit yet? It’s free to join the largest mobile community to trade pre-loved items in Hong Kong: http://get.swapit.la

Read up all historic traction updates from us here: https://swapitblogit.wordpress.com/category/traction/

Swapit Traction Update – March 1st +82% User Growth in One Month

On February 1st we had a great 17,481 users on Swapit. Today on March 1st, 2016 Swapit has made an incredible jump up to 31,810 users!

Compared to our last month’s 94% growth of users, we managed to grow at a steady pace in the past thirty days at about 82% month-over-month.

Have you downloaded Swapit yet? It’s free to join the largest mobile community to trade pre-loved items in Hong Kong: http://get.swapit.la

 

Read up all historic traction updates from us here: https://swapitblogit.wordpress.com/category/traction/

Swapit Traction Update – February 1st +94% User Growth in One Month

On January 1st we had a great 8,987 users on Swapit. Today on February 1st, 2016 Swapit is sporting 17,481 users!

Compared to our last month’s 80% growth of users, we managed to grow even faster in the past thirty days at about 94% month-over-month.

Have you downloaded Swapit yet? It’s free to join the largest mobile community to trade pre-loved items in Hong Kong: http://get.swapit.la

Swapit Traction Update – January 1st +80% User Growth in One Month

On December 1st we had a great 4,990 users on Swapit. Today on January 1st, 2016 Swapit is sporting 8,987 users!

Compared to our last month’s 60% growth of users, we managed to grow even faster in the past thirty days at about 80% month-over-month.

Have you downloaded Swapit yet? It’s free to join the largest mobile community to trade pre-loved items in Hong Kong: http://get.swapit.la

Swapit Traction Update – November 1st – 100% User Growth in One Month

On October 1st we had just over 1,500 users on Swapit. Today on November 1st Swapit is sporting over 3,000 users. Have a look:

Do you remember? Just a few weeks back it took us 2 months to double our user numbers. Now we have doubled them within one month. Hence, Swapit registrations are accelerating and a good speed!

We will keep working hard on getting more traders onto our platform. Our number 1 goal is to accelerate marketplace liquidity through that.

Other current stats are:

• Current users: 3,006 (previously 1,502 up 100%)
• Items posted: 1,175 (previously 979 up 20%)
• Chat messages sent: 5,544 (previously 4,714 up 18%)
• Comments posted: 2,462 (previously 2,005 up 23%)

Note: the percentages stated above are in relation to our stats on October 1st, 2015. All such stats are public and can be viewed inside Swapit.

Download swapit for free: http://get.swapit.la

P.S.: Those UI designers amongst you might notice a slight difference in this screen shot compared to the previous stats screen shot. It’s taken with the latest beta 10 which is about to go public within a day or two. Stay tuned for some new features coming your way!

2,000 Traders – swapit doubled in less than 2 months

Do you remember my blog post on August 18th? It had the title 1,000 Traders – Swapit Just Went 4 Digits. This means in a bit less than 2 months, we were able to grow our user base by over 100%.

We’ve been working hard on recruiting more traders onto our platform. It looks like our growth on that end is accelerating. That’s absolutely great, because we need to ensure our hyper-local marketplace comes with enough marketplace liquidity to sustain.

Other current stats are:

• Current users: 2,067 (previously 1,002 up 106%)
• Items posted: 979 (previously 628 up 56%)
• Value posted: $1,165,498 (previously $482,002 up 142%)
• Chat messages sent: 4,714 (previously 3,153 up 49%)
• Comments posted: 2,005 (previously 1,086 up 84%)

Note: the percentages stated above are in relation to the “previous” numbers published in our 1,000 Traders – Swapit Just Went 4 Digits blog post.

Download swapit for free: http://get.swapit.la

More about swapit:

• Swapit Covered by Jumpstart Magazine
• Swapit got accepted into the TGN BootCamp 2015 – and turned it down
• Swapit beta 9 – Launched – Facebook Groups, 18 New Categories, 中文
• Swapit Secures Support Worth $30,000 from Facebook’s FbStart Program
• $1 Million on Swapit
• Swapit Covered by Top Funded
• Swapit partners with Street Value Asia
• Introducing Swapit Web Teasers
• Swapit Secures Support from Microsoft BizSpark Program
• Seed Round Fund Raising has Started for SWAPIT Hong Kong
• Swapit Secures Support from SoftLayer Catalyst Program
• Swapit was featured in the HK VIBES Magazine for RISE 2015
• Swapit Is Compatible With 95.1% Of All Android Devices

Friday Counter Fun

It’s always great to have some metrics to measure your product’s success. Today is Friday, the end of the week, the day we’re having our group lunch and the day to do some silly things. So our Customer Happiness Officer William dug into his programming skills and hacked a quick ‘n dirty counter for the office. Here is how it looks like:

Granted, it could be “fancied” up a bit. Maybe soon? Who knows.

But just showing the numbers wasn’t enough. We needed sounds! Every time some stats change in the counter, it plays a sound – for different interactions, different sounds. So for example, if someone posts a new item on swapit, a lovely lady says “swapit la!”. If a new user signs up, a “success” ring plays. If someone sends a chat message, a short “ping” sound plays. Sometimes, when people go crazy chatting around, it can get really loud in the office then.

I love the stats counter, though. It keeps us always up to date with everything happening inside swapit. It’s a great way to stay on top of your game!