1,000 Traders – Swapit Just Went 4 Digits

Last week we reported a very lucky number – according to Chinese customary belief – of 888 users on swapit. Only 5 days later we have surpassed our next milestone of going 4 digits:

1,000 traders are now on swapit!

swapit_screenshots_1.0.0.29-4_stats_2015-08-18_3_smudged

That’s a staggering increase of 11.2% over the last 5 days. If the absolute growth in numbers of traders would continue at a linear rate, we would be growing at an avery 70% month-by-month. However, our growth has been exponentially over the past months, and we are currently working on the next release of swapit which will foster that even more. So stay tuned and make sure you have swapit running on your phone. You might find just the right item for you.

swapit_marketing-chart-growOther current stats are:

  • Current users: 1,002
  • Items posted: 628
  • Value posted: $482,002
  • Chat messages processed: 3,153
  • Public comments posted: 1,086

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

More about:

Coping with a Constantly Increasing Flow of Pre-Loved Items

Every day swapit receives many new items being posted all over Hong Kong. Here is a quick map that shows how these new item posts distribute across the main populated areas of Hong Kong:

swapit_screenshots_1.0.0.29-1_map


In simple numbers, swapit’s growth is now:

  • 0.7% new users per day (22.7% new users per month)
  • 3.5% new item posts per day (107% new item posts per month)

It is great to see that swapit is expanding its catalog of products and user base constantly. We had been actively reaching out our target audience over the past couple of months, but we have stopped doing that about two weeks ago. We wanted to see how our organic growth rates are performing without any additional effort through our outreach efforts. That seems to prove at least some stickiness and value of swapit with our existing user base who is passing information about swapit via word-of-mouth.

To cope with the ever constant increase in users, content and activity on our platform, we don’t actually have to do much additional work. In my previous blog post “Choosing a platform for swapit.” I explained how we considered different platforms and finally went to go ahead with the Google Cloud Platform in terms of backend. This now allows us to focus on the important (business) parts of swapit and not being stuck with technology challenges that many of our competitors are facing.

Swapit has built with hundreds of thousands of users in mind and on an extremely scalable platform that automatically adapts itself to a larger number of users and content.

Stay tuned for the next swapit beta 7 coming your way. We’re moving forward, step by step … sometimes with a jump in between!

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

Research Infographic: Facebook Groups in Hong Kong and their Buy & Sell Activity – Week 1

We at swapit believe there is a huge market for buying and selling second hand items in Hong Kong. So we have been talking a lot about how people are buying and selling such items, what their process is and how we can improve it through swapit.

It is also very interesting to look a bit deeper into what people are actually selling on Facebook groups for example. For that, we selected 5 Facebook groups and took a closer look at them. Yet, we know there are several dozen more groups on Facebook as well as Yahoo and there are other websites – some especially dedicated to such classifieds. As we needed to keep it manageable, we chose 5 Facebook groups and analyzed the trading activity that’s happening in such groups.

To make it easier to understand, we put together a nice infographic that visualizes our results. From a very selfish perspective, it helps us to grasp the vast size of this market. Though, we are also happy to share this insights with all of you. Feel free to have a look at the infographic:

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The content in this article and its infographic is based on research done by Kevin Hsu of the swapit team.