November 23, 2017 - No Comments!

Black Friday vs Cyber Monday

Black Friday vs Cyber Monday: Let battle commence...

By now we're all familiar with the festive phenom from the other side of the pond. Black Friday's origins can be traced all the way back to 1950's. Back then, local police coined the term to describe the unruly mob of bargain-hunters who would descend upon the city of Philedephia on the Friday after Thanksgiving. High Street stores would take advantage of all the extra business by opening early and promoting huge sales whilst the local police were stuck with long, busy shifts that left them dreading the date.

The concept of Black Friday would eventually spread from Philly to New York to the rest of the states. Competition for footfall increased year on year until jaw-dropping and loss-leading reductions lead to the rise of the 'doorbuster' shopper.

black friday, cyber monday, buy, swap, sell, marketplace

Stateside shopaholics storm a local mall looking for a festive bargain. Credit: AP

Meanwhile, in Britain...

Over here, the term Black Friday had also been coined by the emergency services. Coincidentally, this was to describe our own nightmare on the High Street, though this had little do with shopping (and even less to do with Thanksgiving).

Though since the 1990's, there have been repeated attempts by retailers with origins in the United States, to introduce Black Friday to their UK markets. It wasn't until 2013, when Asda, a subsidiary of Wal-Mart, announced a whopping 70% off all electrical goods that consumers really stood up and took note.

However, within minutes, things had turned sour. The now infamous scenes of shoppers staying up all night to queue, and then later fight it out, for the latest electronic gadget lead to a media frenzy.

Far from swaying public opinion against Black Friday, sensational media coverage of the macabre scenes lead to more and more domestic retailers wanting a piece of the action.

Fast-forward four years and now it's a race to the bottom as Tesco, Argos, Next and Currys PC World lead the charge with their own Black Friday bonanzas.

Cyber Monday strikes back

The term was first used in the run up to Christmas 2005 when e-commerce gurus began suggesting that the Monday after Thanksgiving was now one of the biggest online shopping days of the year. As it transpired, people returning to 'work' after the holiday weekend still hadn't shaken off the shopping bug.

Before long, online retailers across the world were following in the footsteps of their bricks and mortar counterparts.

Back in Blighty, online giants Amazon and Very.co.uk were aggressively promoting their sales through a mixture of online, TV and even print advertising. Before we knew it, 'Cyber Monday' had entered the British lexicon.

Don't let the name fool you...

Now your left brain is probably telling you that your next laptop, television or smartphone purchase should be left until Cyber Monday. The truth is, if you are hoping to grab a bargain in tech, home appliances or Apple products then Black Friday is in fact the day for you.

This year some Currys PC World stores will be opening their doors as early as 6am after slashing prices on more than 4,000 items and Amazon's Lightening Deals are going into overdrive starting Thursday evening.

Even package holiday providers are also offering their own Black Friday deals along with hotels both home and abroad.

It may seem counter-intuitive, but if you're looking for clothes, shoes, cosmetics or children's toys - you are best off waiting it out until Monday. Clothing retailer Missguided are running a bold 'CYBER50' campaign offering a huge 50% across their range of apparel and Harvey Nichols will be running further online-only reductions on Monday.

Cut to chase 'Clip. Where do I find the best deal?

Like most of life's big questions, there is no simple answer. It depends purely on what you're looking for both in terms of product and shopping experience.

It goes without saying that if you are looking to stay away from the rain, the cold and a mob of doorbusters - you may be best off waiting for the Cyber Monday deals. But if you are looking to escape the winter all together, or at least wrap-up warm against the elements - Black Friday is the day for you.

 

black friday, cyber monday, buy, swap, sell, marketplace

A barista hard at work on Cyber Monday

Fortunately, the days of picking between the two may be numbered as more and more retailers are running both a physical and an online sale in tandem. These often starting on Black Friday and finishing the following Tuesday.

Our advice: Do your research. Every major tabloid and shopaholic blogger will be running their own scoop on where to find the best deals. A little investment in time will pay off dividends, unless you enjoy waiting in the rain for the Apple staff to open their glass door.

Paperclip to the rescue?

Black Friday and Cyber Monday spending has increased year on year since the start of the decade. Flash sales and impulse buying has left our cupboards bulging with unwanted and/or duplicate Christmas gifts.

Our marketplace allows you to buy, sell and swap items locally for a price that suits both parties. No ads, no rush and no 3am start.

If you want to save on the transaction fees, save on postage whilst staying out of the wind and rain, why not download our free app on iOS here or Android here.

Or why not check out our desktop version here.

Happy shopping!

Published by: Paperclip HQ in News, Perspective

November 21, 2017 - 1 comment.

Meet the new ‘Clips: Introducing Petr, Laurence & Ana…

A warm welcome to the new members of the Paperclip family...

Paperclip are delighted to introduce to you the new members of staff who recently joined the existing team at our Cardiff HQ.

new, people, buy, swap, sell, marketplace, uk, buy, students

(L-R) Petr, Ana & Laurence

This week we are welcoming our new PR & Communications Manager, Laurence from Yorkshire, Back-End Developer Petr from Brno and our new Junior Designer Ana, who joins us from sunny Spain. We managed to squeeze a few moments into their busy schedules to find out a little bit more about them, why they joined us and how they are finding their first week at Paperclip.

How did you hear about Paperclip and what made you click apply?

Laurence: "I actually found out about Paperclip through my partner. She'd read about the app on Business News Wales and how we were working with her alma mata - Cardiff University. I had a little poke around online, got to grips with the concept and found out how Rich and Alan had managed to secure investment from some really interesting sources. Not only that, but they were looking for someone to take over their comms and social media! I picked up the phone, sent over a CV, came in for a chat and the rest is history...."

Ana: "I was working whilst finishing my degree at La Rijoa School of Design this summer. I always wanted to experience life abroad and wanted to sharpen my skills in an unfamiliar environment. After speaking with my tutor at the time and she suggested I take a look at the Erasmus+ program. I sent over some examples of my work. I had an interview with Alan and Rich, now I'm here!"

And yourself, Petr?

Petr: "I started doing bits of work for the Paperclip project when I was working for another company in the Czech Republic. At the time Paperclip was just a startup project, so I can say that I have been somewhat involved with Paperclip from it's birth. When Rich sent me an offer to work directly with Paperclip, I didn't hesitate to take the opportunity."

Could you guys tell us a little more about your background?

Laurence: "My background is very much rooted in the world of digital content management and media planning. I graduated with a Politics degree and began writing online content for charities and community projects in South Wales. I became a freelance media consultant for SMEs and started building my own portfolio. Then I found out about Paperclip and it seemed like a perfect fit."

Petr: "After graduating from Industrial High school in Sumperk, I moved to Brno city to specialise in IT. After three years of study, I graduated at Brno University of Technology with a Bachelor's degree. Now I am studying a Master's degree at Masaryk University in Brno which will be concluding early next year."

What about yourself Ana?

Ana: "Growing up I always loved photography and fashion magazines. I began getting more and more interested in interior design and then in illustration and branding. When I finished my studies I started working full-time at a studio in Barcelona. It was a great experience and really helped me develop my skills."

And how are you finding your first few days on the job?

Laurence: "Loads of new names and faces but I'm getting there. The office is great and we have a young, dynamic team who are always bouncing ideas off one another. It's a really exciting time to get involved with the company."

Ana: "It is my first job outside of Spain so there's a lot to learn but I really like it. The staff are great and I am already getting started on my first project!"

Petr: "The same! I'm really enjoying it, the staff are nice and the working environment isn't too stressful."

And how are you finding life in Cardiff?

Anna: "It's a really nice place. Everyone seems relaxed and friendly. I haven't got used to the weather yet, it's very different to Barcelona! I only arrived last week so I am looking forward to finding out more about the city."

Laurence: "I came here to study almost ten years ago and just never left. It's a great city for young people, students and entrepreneurs. There's a great buzz about the place and you can see why it's always listed as one the UK's top cities to live and work."

Petr: "Though I am here now, I will be working remotely from Brno most of the time. I do like coming to Cardiff though, it is a little less hectic than Brno. I could certainly imagine living here the future."

Tell us more about what you will be doing at Paperclip HQ?

Ana: "I will be working with our in-house Graphic Designer Steve. He's working on some exciting new projects as we roll out the desktop version of Paperclip*. We will be working on visual content for the website and for social media. I think I am going to learn a lot here and I have some ideas of my own."

Petr: "My role is Back-End Developer. I'm responsible for API parts and database work. I will also be deploying a lot of new API features soon among other things."

Laurence: "I am going to be taking over the Paperclip Blog, social media channels and PR duties. Paperclip are fresh new outfit and have a lot to say. It's my job to make sure that we're getting the right information across to the right people."

We are delighted to have all three on board and we really hope that Ana, Petr and Laurence find themselves at home at Paperclip HQ.

If you are interested in joining the Paperclip family, check out our vacancies page here.

 

new, buy, sell, swap, marketplace

 

 

Published by: Paperclip HQ in News

November 17, 2017 - No Comments!

Launching Paperclip web version

Web version launch

Happy Friday Blogosphere,

Hot on the heels of the release of version 2.0 of our app, the team at Paperclip HQ are excited to announce the launch the new web version of our marketplace.

After months of designing, testing, testing and more testing, the online version is finally here. Let's us talk you through our process and some of the features of our new project...

Genesis

We began work on the web version all the way back in January of this year. We began exploring what options were available for potential users who were less likely to use an application, but still wanted to access our marketplace. After a lengthy analysis of the competition, we found that almost all surveyed users all had similar gripes.

What's the problem?

Turns out there wasn't one problem with the 'marketplace market', there were three:

1.) Fees explosion

Type 'avoid' into Google and you are hit with a number of suggestions, but you can guarantee 'avoid eBay fees' will top that list.

web, web version, app, buy, swap, sell

Type in eBay and the picture becomes even clearer...

web, web version, app, buy, swap, sell

Search any of the above, and you are confronted with a myriad blogs speculating and pontificating about said fees.

One thing was clear, users of the popular online marketplace were talking and Paperclip heard you loud and clear!

We decided to replicate our no fee concept across all versions of the marketplace: free to use, no listing fees, no transaction fees, no deductions from the price you agree!

2.) Outdated interfaces

Complacency from the market leaders has meant that buyers and sellers haven't seen any real improvements in their user experience since they first logged in ten years ago.

We at Paperclip have always taken great pride our style, branding and ease of access for the end user.

The team worked day and night to transfer Paperclip's bright, clean and easy to use style from the app to the web version. We created a beautiful, totally bespoke interface with a focus on both style and functionality.

3.) Death by ad

Ads.

It turns out users don't like them.

Our web version doesn't have ads. Simple.

The road to revolution

For a project of this size, the Paperclip army needed reinforcements. We managed to find some top home-grown talent in Gethin and Harry, two front end web developers with experience working with some great domestic start-ups. We had to look a little further for our CTO, Petr. Petr hails from Brno in the Czech Republic and was certainly the right man for the job.

In April, we got together with Steve, our talented graphic designer and began creating our new version.

Six months later we began testing the platform. Then we kept testing. And then we tested some more.

Launching Paperclip web version

After a few minor hiccups, we were ready to bring the version to market.

From today, users can buy, sell and swap from their PC, Mac, tablet, phone or any other device.

Wanna try for yourself? Click to access the marketplace here.

 

 

Published by: Rich Woolley in New Feature, News

October 11, 2017 - No Comments!

Top 5 Random Items added to Paperclip

When you think of random, what do you think?
...a difficult one to comprehend right?

Have you ever been in that position where you are needed to think of something so random, your mind is at a blank...? Well, my friend, you are not alone.

I mean let's face it, random can be as wide-ranging as you'd like it to and there's actually no real way of defining its extent. In fact, random thoughts don't happen whilst thinking, it happens randomly - hence 'random'.

random
adjective - made, done, or happening without method or conscious decision

So now that we've cleared that up - here's our top 5 random items added to Paperclip:

 

1. The Apple Calculator

Hmm, I guess this may be useful in calculating how much you're thinking of spending on Apple products this Christmas and thinking how much you've saved on this iCalculator!

Unfortunately, I have to say with regret that they've probably still upped the value of this calculator by adding the Apple sticker.

We've given this a Random Rating (RR) of 6/10

 

2. The Right Foot

Description: My dog chewed the left foot right before the day I was going to put these for sale. The right foot is still in good quality, only worn once. Half price! Click here to check out this trainer!

They are clearly in denial that this will sell. I mean unless you like wearing two different trainers at the same time, or a similar situation occurred where someone is left with solely their left trainer... then this is a miracle... although the chances of that happening are slim to say the least.

Nevertheless, this has to make the list - the description says it all.

RR: 9/10

 

3. The Wrapper

This may just be the place to recycle your unwanted items, but a chocolate wrapper... really?

We think this user may be slightly flaky... (excuse the pun)

7 out of 10 on effort of randomness

 

4. The Gareth Bale Soother

Description: "One has been eaten by Gareth bale" Click here to check out these sweets!

This must definitely be genuine *cough cough*

A forged signature, a signed football or shirt, something more realistic, but a packet of soothers?

I'd love to know how he thought of this, but then again random thoughts just appear out of nowhere, don't they?

The winner of randomness goes to this guy! RR: 10/10

 

5. The Paperclips

I think this person had a different idea upon downloading Paperclip - a place to sell paperclips perhaps?

Well not that we don't think it is a great item and if you're in the paperclips business, this is the best place to sell them right? So not so random after all - but I'll your subconscious be the decider on that.

 

Well, there you go folks, our top 5 random items on Paperclip. So random it's not... but it is...

If you've seen or uploaded an item on Paperclip which you think beats these on randomness, please email us at hello@paperclip.co with the details and we may feature this on Paperclip's 'Random Item of the Month'.

Published by: Kushal Shah in News, Uncategorized

August 31, 2017 - No Comments!

Introducing… Paperclip Groups!

Say hello to Paperclip Groups!

Back in May we released an article on 2 key marketplace behavioral insights and how they’ve shaped features for version 2.0, which outlined why we removed the price from version 2.0.

This is the second part of that article, explaining the second key insight that led to a new feature on our marketplace... Paperclip Groups, the ability to make and join micro-marketplaces based on your interests and location. Think Facebook Buy/Sell Groups but done right.

The introduction of Paperclip Groups means that our marketplace users now have the ability to create (or join) a private (or public) marketplace based on their interests or location, adding a layer of confidence for buying and selling as part of a trusted community.

Examples of Paperclip Groups in action:

FRIENDS AND FAMILY: Create or join your own private marketplace for family and friends! It takes just seconds to add vintage clothes, gadgets, fashion accessories, 2nd hand electronics, and used books. Once they’re online you can sell and swap them amongst your nearest and dearest.

NEIGHBOURHOOD: Get your neighbours, street, or apartment building involved and trade all of your preloved bikes, TVs and furniture with trusted people locally within your community.

SCHOOLS AND MOTHERS: Kids grow up so fast these days, and so why not make or join a group to trade their outgrown clothes, 2nd hand accessories, unwanted toys and prams with other parents nearby?

STUDENTS & UNIVERSITY CAMPUSES: What better way to make some friends at university than selling and swapping your used games console and games, fashion, second hand furniture and even that ‘vintage’ car you got for your 18th birthday?

"What data pointed towards this decision?"

INITIAL DISCUSSIONS - UNIVERSITY FOCUS GROUPS

Imagine you’ve just gone to university and moved into your halls of residence. You’ve somehow forgotten a few things. Now how much easier would life be knowing you were able to join a buy/sell group where you can find what you need all within the radius of let’s say, 1 mile. Let’s face it there are a lot of people who over pack and probably have a few things lying around.

In fact our core differentiator was pitched by our Swansea University interns, who wanted a way to trade with people of similar interests. This insight proved crucial and had a positive initial reaction during closed trials.

FURTHER RESEARCH - IS THIS A PROBLEM WORTH SOLVING?

We found that 38% of people wouldn’t use a marketplace to buy and sell because they do not trust the people on it. However, of those 38% surveyed, 8 out of 10 indicated that they would use a marketplace if they shared a common interest with the other users. This is why groups is brilliant, because you can join or create a group for other like-minded people, whether they are other students at your university, neighbours on your street, or people who love the same hobby as you.

OK IT'S A PROBLEM. IS ANYONE SOLVING IT?

So, we found from students that they want buy/sell groups. We did some research and found that other marketplace users want groups as well. So now it was time to find out if there was anyone actually solving this problem - what were people using for buy/sell groups?

In short, it was/is Facebook. There are over 200 million buy/sell groups on Facebook, and combined they have more than 200 million transactions performed on them each month. That's a hell of a lot of use for a 'shoe-horned' solution - Facebook Groups are not designed well for this purpose. In fact, we tried using them for a bit and quickly found that they lack some key marketplace features; there are no categories, searching is difficult, there is no transaction of verification process, and the list goes on.

Not only that, but when surveyed, just 9% of people felt comfortable sharing their used buying and selling habits on the social networking tool - they didn't want friends and family from around the world to see that they're selling. They were worried about status and privacy.

SO, HOW ARE YOU SOLVING THIS PROBLEM?

To recap, we've identified 2 key problems;

  1. people want to use buy and sell groups for secondhand items
  2. the only way to do this currently is Facebook, and people don't want to share their buying and selling habits on Facebook

The answer (ie. our solution) is simple; Paperclip Groups.

Response to Paperclip Groups

Given the data and our research, we had always expected groups to be something of a game changer - and we're pleased to see that the response has been positive. We've seen more and more groups created each day, and an increase of returning users. Our most popular group categories are Cars & Motors, Mother & Baby, Smartphones & Women’s Fashion.

An integral part of Paperclip Groups is the 'item request' feature, which allows group members to post requests for specific items for all to see. Thanks to this feature, you can be instantly alerted when an item that you're looking for is added to the group, meaning you'll be exclusively informed and are first in line to contact the seller. The barrier in finding a particular item has now been removed, which brings a new aspect to Paperclip Groups’ that speeds up the process for both buyers and sellers.

Personally, I've seen the 'Car Buy/Sell/Swap' group to be one of my favorites, with hundreds of people and cars being added over the past few months. You can access the group here.

At the other end of the spectrum is an interesting 'K Pop' group for Korean music and related items - it's awesome to see people getting use out of Paperclip Groups!

What's next?

We'll continue to listen to our users and monitor the data before launching new features. The next big thing is just weeks away now, the release of our very own web platform! As of October you'll be able to buy, sell and swap with people via your desktop browser!

Let us know of any features you'd like added, or your feedback on Paperclip Groups at hello@paperclip.co

Rich

 

Published by: Rich Woolley in Features, New Feature

May 22, 2017 - No Comments!

Version 2.0 is here!

After nearly a year of design, development, and testing, our shiny new version 2.0 is finally available on iPhone and Android!

"But what's new - how can you actually improve upon the nouveau-marketplace app status quo?" perhaps some might ask...

Well, let me tell you a story son.

Prior to starting our design phase for v2.0, we spoke to a bunch of our most devoted users, looked at all of our user behaviour data, held focus groups and sent out surveys to our target user groups (Mothers and Students). The result was a decent idea of what was missing with both traditional and upcoming marketplaces - a ton of features and functions that users actually want. So then we got to work, and a year later it's finally live!

So what's new for version 2.0?

NEW INTERFACE & DESIGN: Our resident design surgeon, Dr. Roberts, has completely redesigned the layout of Paperclip to create a refined user experience. The results speak for themselves.

version, buy, sell, swap, app

 

REMOVED PRICES: Removing prices means you have a better chance of getting more for the items you are selling, it also eliminates annoying seller-inflated prices which put folk off buying an item. Sellers can still set a minimum price, which means they'll only receive offers above the set price - but buyers won't get to see this. A lot of user feedback and data pointed towards this decision.

The ultimate ambition with removing the price is;

To encourage buyers to make offers which they deem are fair, without being influenced by a guide price. You don't see a price tag on your friend's unwanted iPhone do you?

  1. To emphasize the value of everyday items laying unused around your home - many people see a currency symbol and immediately think about making cash offers, neglecting the fact that they're surrounded by unwanted items which are essentially 'cash on the shelf'
  2. To get buyers and sellers to negotiate and engage in real-life negotiation processes

We wrote an article about this here - if you get turned on by stats you're in for a satisfying afternoon.

MAKE YOUR OWN MARKETPLACE WITH PAPERCLIP GROUPS: This one's a bit of a game-changer as far as we're concerned... and something that probably took the longest to get right in terms of development. You can now create a private or public marketplace for your friends, family, university, community - anything you like really. Again, a lot of data pointed towards adding this feature, and the only way to currently do this with existing platforms is via Facebook Groups (did you know that there are 200 million of them!?). Just 9% of those surveyed felt comfortable sharing their secondhand buying and selling habits with friends and family on Facebook. To put it succinctly, we're going to do for those 200 million Facebook Buy/Sell groups what Eventbrite did for Facebook Events - add a transaction process, advanced verification processes, and most importantly... take them off Facebook!

version, buy, sell, swap, app

Paperclip Groups are like Facebook Buy/Sell Groups, but on steroids, which is kind of apt because Paperclip is based in Wales, the juice capital of the world.

NEGOTIATE: With Paperclip version 2.0, you are not limited to only being able to accept or decline an offer. You can now negotiate, which means you don’t have to keep declining an offer until you get what you want. You can send a counter-offer to the buyer indicating what you are willing to accept, it is then on them to accept, decline, or negotiate again. This is how we do it in life so why not bring it to the 21st century?

TRADE CENTRE: A dedicated and easy to use transaction section, which automatically filters all your offers, messages, and notifications into buying and selling… you’re welcome.

version, buy, sell, swap, app

Our newly introduced Trade Centre section helps you manage all of your offers, messages, notifications and transactions all in one place, handy eh?

 

RESPONSE RATES & REVIEWS: Unresponsive users and time-wasters are one of the biggest problems with marketplace. We trawled through hundreds of reviews from other marketplace platforms and gained a lot of insight; problems with unresponsive buyers and sellers were among the most common reasons for negative reviews. We have added several new features to prevent this from happening, and to help manage expectations with inactive buyers and sellers. Every Paperclip user now has a response rate, which falls if they fail to respond to other users within an appropriate time. We have also opened up the review process so you can leave a user review at any time, not just after a trade has been completed.

ADVANCED VERIFICATION: Safety has never been more important to us, with more items and users being added to Paperclip each week than ever before. Indeed, one of our co-founders recently wrote an article claiming that 'trust is the new currency in the economy' - he has absolutely no clue what he's talking about of course, but he does have a good point... trust is important.  For this reason, we've added some enhanced security and verification settings. In short, you can now verify your account via Facebook, email, and SMS - and you can check the verification status of other buyers and sellers on their profile. I'm not going to lie to your pretty faces and tell you that we spent hours researching trust processes, we basically we took a look at how other sharing economy based startups such as Uber and Airbnb were solving the trust issue... and emulated their verification processes.

So there you go, after nearly a year of design and development we've finally released a product that we're proud of; a purpose-built marketplace based on extensive user feedback, with innovative features that we can proudly say you won't find elsewhere.

Download Paperclip v2.0 today for: Android | iPhone

So what's next?

We'll be starting slow with the ramp-up for this version; we'll take a month's worth of user behaviour and feedback to refine the user experience for a version 2.1 release in June, and then we'll start cracking on with some rather serious new features for 2.2 and beyond, which should put us in a strong position to take over Wales / the UK / Europe / the world within the next decade. Or something like that.

As always, we'd love to hear about how you're finding the version 2.0; whether it's a bug, a new feature, or just something you'd like to rant about, give us a shout at hello@paperclip.co!

Rich

Published by: Rich Woolley in Features, New Feature, News

March 23, 2017 - 1 comment.

Marketplace behavioral insights and how they’ve shaped version 2.0

As part of releasing our new version, we took time to review all of the data that we’d gathered from running a marketplace platform. We looked in depth at everything, and no stone was left unturned.

Other than significant brand, UI and UX overhaul, there are two main outcomes reflected in our v2.0 release. Rather than overload your puny earthling brains with both revelations simultaneously, we’ve focused on sharing the first major change in this article…

Removing the price from Paperclip

We’ve removed the price from our marketplace. This means that you’ll no longer see a ‘guide price’ on items in the app. Of course this could be a ridiculous move, but below is our rationale for such a bold move;

Our proprietary user data, combined with insights collected from user surveys and focus groups all pointed towards removing the price.

We found that;

  • 88% of buyers lowballed the hell out of sellers in their initial offers. Whilst this is, of course, a fundamental to negotiation, we realised that price served as an upper boundary to negotiation
  • 12% of buyers made a cash offer for the actual price; which means that sellers never get more than their list price for the item they’re selling
  • 82% of buyers indicated that a high price was actually putting them off making an offer, while…
  • 60% of buyers admitted to inflating their list prices, knowing that they’d get lowballed
  • 68% of people saw the £ sign and their first thoughts were on a monetary transaction; they forgot all about the massive value that they have just laying about their attic. In other words – people forget all about swapping when they see a price, because money is quite literally on their mind

With the above in mind, it’s clear that having the price on the marketplace was causing bounded rationality in a sense, and so we’ve made a bold decision… and that decision is to remove the price.

Asides from the statistical wet-dream outlined above, what are the benefits of this to the end Paperclip user?

GREATER SATISFACTION, LESS RESENTMENT: It’s psychology, innit. Just bear with me on this while I explain, using a role play scenario;

You’re a buyer that wants to get £50 for a spare bike that you have. Now that your price is hidden from the buyers, you’re likely to receive bids anywhere from £10 to £100 for that bike. Therefore, if Johnny Buyer wants to bid £60 for your bike, and you accept, you’re both going to be happy. Why? Because Johnny Buyer is getting the bike for a price that they are prepared to pay for it, and Sarah Seller is selling her bike for more than she expected to get out of it. So everybody is happy, and it’s all because the price is removed.

LESS TIME TURNING DOWN OFFERS, MORE TIME PLAYING POKEMON

In an effort to prevent these low-ball offers, we’ve also introduced some handy, advanced item features;

  • Offer preferences: you’ll now be able to state your preference of offers (ie. cash only, swaps, cash plus swaps, etc)
marketplace, buy, swap, sell

Steve told me to update the wording of this notification message, totally forgot.

  • Minimum bid price: when selling an item, you can now enter a price that you’re not willing to sell below. This price will be invisible to buyers, and if anyone tries to make an offer below that bid price they’ll be kindly (but firmly) requested to up their offer, saving you the hassle of telling them that yourself

So there you go, a couple of rational reasons for removing the price.

What are your thoughts on this? Feel free to send any feedback to us at hello@paperclip.co or on our Facebook page.

– we welcome your feedback, even if it’s a simple ‘I like banana pancakes’.

Published by: Rich Woolley in Features, New Feature

March 12, 2017 - No Comments!

Behind the scenes at Paperclip HQ

It has been a while since the last update, and in that time the Paperclip team has doubled in size - we've taken on some new developers, including a full-time CTO. As of next month we will be hiring a marketing/social media manager position, but more on that at a later date.

There are several things going on behind the scenes at Paperclip;

  1. Our investment round:

    We've just closed a round, which is great. Well, we closed it in January but the legals are taking a while. For this reason it's hard to give an update until it's totally completed (targeting next week for the funds to arrive), and I will write a post on what we've learned throughout raising our third round of funding towards the end of the month.

  2. Key partnerships:

    Again, we can't really lift the lid on these just yet, but rest assured that we're in late stages of talks with some significant partners... it will be big news once they're totally agreed, but as you can imagine, these things take time and must remain confidential until the dotted line is signed. I'm not lying when I say that you will recognise the partners we are dealing with - they are national names. I lie about a lot, but that's mostly to friends and family, I would never lie to you. So trust me. Big names.

  3. Testing, testing testing:

    Our v2.0 is behind schedule. We have been testing it significantly over the past 3 months in particular, and are now 95% there. However, we thought we were 95% there in November. But this time we're totally there right? Well yes; 300 screens, 2 platforms (Android and iOS), and hundreds of bugs logged and fixed. We're looking to get the new v2.0 release out by the 1st April (2017, but we often joke/cry that it will be 2018).

  4. I pitched to the Duke of York but he didn't like my face:

    the photo below says it all really...

Paperclip, duke, marketplace, buy, swap, sell

I hadn't faced a stern look like that since 2004, when the headmaster shut down my chewing gum venture in school.

So lots to talk about, but nothing really right now. Shame really, I've had 3 coffees and could chat all day.

Rich

Published by: Rich Woolley in News

December 8, 2016 - No Comments!

We got into Entrepreneurial Spark!

Evening, and yes - I know it has been a while...

Well the good news is, looks like we're going to be going ahead and closing our third major round of funding this month. But of course nothing is ever definite, so I can't say for sure yet... but looks like we'll be raising enough to help us smash 2017, and appointing 4 new advisors to our advisory board - they have experience as CEOs, CFOs of publicly listed companies - and one even invented the remote control vibrator! (not even joking).

But all of this is being worked on behind the scenes, so it would be prudent to keep our mouths shut about it for now.

One thing that we CAN say for sure, however, is... we got into Natwest's accelerator - the Entrepreneurial Spark programme! Read more about the programme here.

The accelerator will run from February, and will provide us with mentorship, support, and (arguably best of all)... sweet office space, conveniently located across the river from our current digs. Uncomfortably close in fact.

Anyway, more news will follow near Christmas, when we will be launching our ever-so-shiny-and-awesome version 2.0!

Published by: Rich Woolley in News

October 26, 2016 - No Comments!

Milestones and all that

It has been a while since our last post, but that doesn’t mean that we’ve been doing nothing! Learn more about the milestones we have reached of late...

We’re currently amidst another round of funding, which can be exhausting at times. I’ll let you know how this goes in due course, but over the past month we’ve achieved a few milestones that I thought I’d share – there’s so much going on right now that we won’t be celebrating just yet…but progress is progress.

  • Loads of downloads:  we hit one of our major download milestones a couple of weeks back. Over the past 3 months in particular we’ve grown by an average of 30% month on month. Of course this rate of growth came with downsides; we performed a database migration and added an extra server to keep things moving smoothly, but this led to a short term service outage over a weekend earlier in October. It was horrible, but at least we got it fixed and it won’t happen again – and we put in measures to both report and fix these kind of errors within minutes now, so we can all sleep a little easier at night.
  • Doubled user engagement: most start-ups don’t share their user stats but we’re happy to say that our engagement and retention rates have doubled since July! We had a big discussion about about our engagement statistics back in June, and we put in a number of short-medium term changes to help keep people coming back before releasing our version 2.0 in November. We listened to our users and addressed a few pain points, which helped. But also, new features such as Item Alerts, and giveaways such as our recent Nandos £20 gift card competition have been more successful than we expected.
  • Version 2.0: finally being able to run through and test the new UI and UX, along with some key new features has been nice this past week. We sat in a room for a week back in April planning all aspects of this new build with Steve; testing the beta has been like watching our child learn to walk. It is just a shame when ‘our beta baby’ headbutts the fridge so frequently, but we’re sure this is just an early symptom of aggressive growth.

November is going to be a big month for Paperclip!

Rich

Published by: Rich Woolley in General musings, News