Should I Build It Should I Build It
10 Apr 2025
Shopping

a platform for collectors where they can showcase what they collected ...

...and users get alerted when an item they marked goes for sale

Confidence
Engagement
Net use signal
Net buy signal

Idea type: Swamp

The market has seen several mediocre solutions that nobody loves. Unless you can offer something fundamentally different, you’ll likely struggle to stand out or make money.

Should You Build It?

Don't build it.

Your are here

You're entering a 'Swamp' category, meaning there are already several solutions in the market for collectors to showcase their items and receive sale alerts, but none have truly captured the market's heart. With 17 similar products already out there, competition is considerable. Average engagement, indicated by the average number of comments on similar product launches is pretty low (3). While we don't have explicit 'use' signals, the absence suggests a neutral sentiment. Interestingly, there is a surprisingly strong positive buy signal from the users of similar products (top 5%!), which indicates that users are willing to pay for such a solution. However, this doesn't guarantee success, since existing solutions haven't become wildly popular. To succeed, you'll need to offer something significantly different and more appealing than what's already available.

Recommendations

  1. Given the number of competitors, deeply research why existing platforms haven't become 'the' platform for collectors. Analyze their shortcomings in user experience, features, or marketing to identify gaps you can exploit. Look closely at the criticisms of similar products – like concerns about security (HTTPS) and lack of platform support – to understand potential pitfalls.
  2. Focus on a specific niche within the collector community. Instead of trying to appeal to all collectors, target a smaller, more defined group (e.g., vintage toy collectors, stamp collectors, etc.). Understanding the specific needs of each niche and tailoring the platform accordingly will help to stand out and attract a dedicated user base. Also think about integrations with other tools these collectors use.
  3. Explore building tools or services that enhance existing marketplaces or platforms instead of creating a completely new one. Consider creating a price tracking tool specifically for collectors on eBay, or a wishlist management extension for Etsy that can give collectors access to discounts and restock alerts. This approach would allow you to reach a large audience quickly and leverage the existing infrastructure.
  4. Carefully consider your go-to-market strategy. Given the existing competition, a generic marketing approach is unlikely to be effective. Instead, focus on building relationships with key influencers in the collector community, participating in relevant online forums and groups, and creating high-quality content that educates and engages your target audience.
  5. Prioritize building a strong mobile experience. The Chestr example shows that users criticize the lack of mobile support. A seamless and intuitive mobile app is essential for collectors who want to access your platform on the go. Make sure the mobile platform is easy to navigate and provides a good customer experience.
  6. Address security concerns early on. Ensure your platform uses HTTPS and has a valid security certificate, and prioritize data protection. This is especially crucial when dealing with valuable collectibles and personal information. Transparency and robust security measures will build trust with your users.
  7. Since there is a positive buy signal from the users of similar products, focus on a premium pricing model for additional functionalities. Try to understand which would be these functionalities by directly talking to users of the existing similar products.

Questions

  1. Given the existing solutions and the 'Swamp' category, what truly unique value proposition can you offer collectors that isn't already available? How can you ensure that your platform doesn't just become another mediocre option?
  2. Considering the low engagement observed in similar product launches, how will you foster a vibrant and active community on your platform? What strategies will you employ to encourage collectors to showcase their items, interact with each other, and provide valuable feedback?
  3. The metrics show there's a willingness to pay, but what specific features or services are collectors most willing to pay for? Have you conducted thorough market research to identify the pain points and unmet needs that justify a premium pricing model?

Your are here

You're entering a 'Swamp' category, meaning there are already several solutions in the market for collectors to showcase their items and receive sale alerts, but none have truly captured the market's heart. With 17 similar products already out there, competition is considerable. Average engagement, indicated by the average number of comments on similar product launches is pretty low (3). While we don't have explicit 'use' signals, the absence suggests a neutral sentiment. Interestingly, there is a surprisingly strong positive buy signal from the users of similar products (top 5%!), which indicates that users are willing to pay for such a solution. However, this doesn't guarantee success, since existing solutions haven't become wildly popular. To succeed, you'll need to offer something significantly different and more appealing than what's already available.

Recommendations

  1. Given the number of competitors, deeply research why existing platforms haven't become 'the' platform for collectors. Analyze their shortcomings in user experience, features, or marketing to identify gaps you can exploit. Look closely at the criticisms of similar products – like concerns about security (HTTPS) and lack of platform support – to understand potential pitfalls.
  2. Focus on a specific niche within the collector community. Instead of trying to appeal to all collectors, target a smaller, more defined group (e.g., vintage toy collectors, stamp collectors, etc.). Understanding the specific needs of each niche and tailoring the platform accordingly will help to stand out and attract a dedicated user base. Also think about integrations with other tools these collectors use.
  3. Explore building tools or services that enhance existing marketplaces or platforms instead of creating a completely new one. Consider creating a price tracking tool specifically for collectors on eBay, or a wishlist management extension for Etsy that can give collectors access to discounts and restock alerts. This approach would allow you to reach a large audience quickly and leverage the existing infrastructure.
  4. Carefully consider your go-to-market strategy. Given the existing competition, a generic marketing approach is unlikely to be effective. Instead, focus on building relationships with key influencers in the collector community, participating in relevant online forums and groups, and creating high-quality content that educates and engages your target audience.
  5. Prioritize building a strong mobile experience. The Chestr example shows that users criticize the lack of mobile support. A seamless and intuitive mobile app is essential for collectors who want to access your platform on the go. Make sure the mobile platform is easy to navigate and provides a good customer experience.
  6. Address security concerns early on. Ensure your platform uses HTTPS and has a valid security certificate, and prioritize data protection. This is especially crucial when dealing with valuable collectibles and personal information. Transparency and robust security measures will build trust with your users.
  7. Since there is a positive buy signal from the users of similar products, focus on a premium pricing model for additional functionalities. Try to understand which would be these functionalities by directly talking to users of the existing similar products.

Questions

  1. Given the existing solutions and the 'Swamp' category, what truly unique value proposition can you offer collectors that isn't already available? How can you ensure that your platform doesn't just become another mediocre option?
  2. Considering the low engagement observed in similar product launches, how will you foster a vibrant and active community on your platform? What strategies will you employ to encourage collectors to showcase their items, interact with each other, and provide valuable feedback?
  3. The metrics show there's a willingness to pay, but what specific features or services are collectors most willing to pay for? Have you conducted thorough market research to identify the pain points and unmet needs that justify a premium pricing model?

  • Confidence: High
    • Number of similar products: 17
  • Engagement: Low
    • Average number of comments: 3
  • Net use signal: 29.6%
    • Positive use signal: 29.6%
    • Negative use signal: 0.0%
  • Net buy signal: 5.1%
    • Positive buy signal: 5.1%
    • Negative buy signal: 0.0%

This chart summarizes all the similar products we found for your idea in a single plot.

The x-axis represents the overall feedback each product received. This is calculated from the net use and buy signals that were expressed in the comments. The maximum is +1, which means all comments (across all similar products) were positive, expressed a willingness to use & buy said product. The minimum is -1 and it means the exact opposite.

The y-axis captures the strength of the signal, i.e. how many people commented and how does this rank against other products in this category. The maximum is +1, which means these products were the most liked, upvoted and talked about launches recently. The minimum is 0, meaning zero engagement or feedback was received.

The sizes of the product dots are determined by the relevance to your idea, where 10 is the maximum.

Your idea is the big blueish dot, which should lie somewhere in the polygon defined by these products. It can be off-center because we use custom weighting to summarize these metrics.

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