OLX Kenya’s inventory surpasses 1 million with electronics leading the pack

OLX Kenya saw over 1 million items listed for sale on its site last year with over 100,000 users registered to sell on the site according to a new internal report.

According to the firm, among the categories with the most inventory on sale were electronics, followed by vehicles, mobile phones and real estate.

“Electronics is among the most sold items on OLX with 330,000 items listed for sale the past year only. This is attributed to small and medium sized businesses who use this platform to sell their products,” said the firm in a statement.

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.

Peter Ndiangu’i, OLX Kenya country manager, “By giving sellers options to list unique items, it brings more unique buyers and sellers on to the platform and gives Kenyans an opportunity to list anything deemed legal. 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. We are encouraging sellers to take advantage of listing items they thought would never have sold on this platform.”

OLX-Infograph_6[13]The firm added that 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.

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.

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.

In October last year, OLX introduced premium featured listings and banner ads in a heavy monetization push after spending millions of dollars on marketing and customer acquisition in Kenya, and various markets in sub-Saharan Africa. In August, it launched an SMS service in a move to have as many people in Kenya to sell their stuff online minus an internet connection.

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