Swappy - The Sustainable Swapping Revolution
Sommersemester 2021 / Student Start-up
Everybody has things laying around at home which we don't need anymore, but yet are perfectly fine to use and in good condition. Right now, it is possible to sell them via a tough and time-lasting online platform and get one or two Euros for it. Alternatively, one can simply throw it away, which is, however, very polluting for the planet and not sustainable at all. In the future, we will be able to use the "Swappy" App.
Hypothesis testing and their conclusions: A Tinder Approach!
We conducted two questionnaires and several qualitative interviews, which showed people have stuff at home to swap and want to indulge into this activity. We therefore came up with the idea of the "Swappy" Platform, which is an App-based marketplace for second-hand item swapping using a Tinder-like swiping approach. We tested our idea by creating a WhatsApp group as a prototype, and this turned out to be highly successful, as out of 20 participants 5 swaps have been recorded within a short time. Overall, 12 prototype users requested swaps, giving our approach a success rate of more than 40%! Additionally, feedback received has shown us people have a lot of fun swiping through the swap offers.
The business model, or: How to make this project (financially) succesful.
Using the lean startup method, we developed a business model which is both, profitable using a premium subscription model, and highly scalable, as the App can be expanded quickly after a successful launch in the Vienna region. A competitor analysis which we conducted showed there is, so far, no one else offering item swapping, even though second hand is booming. Furthermore, our team is unique due to its members coming from three different universities (TU, Boku and WU), which enables us to do most of the work in-house, such as coding & programming, marketing or finances and graphics designing.
Next steps: Our roadmap for the upcoming years.
Since the business model has already been developed, the next step will be to code the App itself. We then plan to launch in Vienna and build our own community here. To grow quickly concerning user numbers, we will target our customers using specific target marketing with influencers and organize offline swapping parties, which will increase our brand awareness in the core customer group. After having grown the community, we will introduce the premium subscription model to increase cash flow. Once the App is successful in Vienna, further expansion is appealing. Other student hubs in Austria, such as Graz or Innsbruck, or other cities in the DACH region are highly attractive.