Over 1 million Items Listed for Sale on OLX in 2016

By Soko Directory Team / January 11, 2017

OLX-Kenya

Electronics is among the most sold category on OLX with 330,000 items listed for sale in that category the past year only. This is attributed to small and medium sized businesses who use this platform to sell their products. A rising number of businessmen within the CBD have realized a market within the online community and are tapping in to this market through OLX to reach out to more buyers. This is expected to increase due to demand of newer items coming in to the market every year.

There were over 1 million items listed for sale with over 100,000 users selling on OLX in 2016. Among the categories that contributed to the items on sale were electronics, followed by vehicles, mobile phones and real estate. Average monthly buyers who visited the platform in 2016 were 1.1 million with 45% visiting the site via the OLX app, 38% through mobile web and 17% through desktop web.

Most Kenyans are going online to advertise their pieces of land and property and the average cost of real estate items on OLX in 2016 stood at Ksh 24 million. A 3000-acre piece of coffee plantation in Kiambu went for Ksh. 12 billion last year. The cost of items was highest in the real estate category, vehicles coming to a close second with an average of 1.7 million.

Despite an increase in levy of second hand vehicle imports, an increasing number of Kenyans are still seeking mobility and convenience. Vehicles were among the most sought after items on OLX in 2016. This was attributed to the lower price value of vehicles on this platform compared to various car dealerships. OLX is already capitalizing on majority of Kenyans who prefer to buy already used vehicles. Other items Kenyans looked for on OLX were furniture, bedsitters, mobile phones and home appliances.

The probability of selling your item on OLX within seven days stood at up to 84%. You are also likely to get one guaranteed buyer for every item posted on OLX.

olx-infographic

Unique items for sale

The platform also saw Kenyans sell unique items that would never have been sold on any other online platform in Kenya in the past year according to OLX. OLX country manager said that by giving sellers options to list unique items, it brings more unique buyers and sellers on to their platform and gives Kenyans an opportunity to list anything deemed legal in their site. A helicopter was up for grabs at Ksh. 95 million, while a five-star hotel at a cost of Ksh. 3 billion last year. There was  a drone for sale at a cost of ksh 190,000. OLX is encouraging sellers to take advantage of listing items they thought would never have sold on this platform.

With the number of buyers and sellers already using online platform to trade, the site hopes to see an increase in sellers go up by 50% by the end of 2017.

 



About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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