Snatch: Launching a Swiss Gen-Z Marketplace

Objective: Our mission is to establish a dynamic live shopping marketplace tailored for Swiss Generation Z, drawing inspiration from eCommerce giants like TEMU and Shein.

Problem Statement: We are committed to revitalizing the shopping experience to cater to the desires of the younger generation for an engaging and interactive online platform.

Target Audience: Swiss Generation Z shoppers are our primary focus, aiming to meet their unique needs and preferences.

Approach: Employing a lean startup methodology, we rapidly progressed from ideation to a Minimum Viable Product (MVP), and onwards to achieving product-market fit. We initially launched a customized Shopify platform to quickly engage with users and gather invaluable feedback. This iterative process informed the simultaneous development of our proprietary technology stack.

Tools & Technologies:
- Web: Customized Shopify platform, personally developed
- App: Developed using PHP and JavaScript, incorporating Tencent SDKs for live streaming, supported by AWS EC2 servers, along with Apple and Google SDKs for app functionality.

Challenges Overcome: Facing the high costs and lengthy timelines associated with European development, we opted for international development teams, acquiring superior solutions at a fraction of the local cost and significantly faster. To address the inherent challenge of a two-sided marketplace, we established a partnership with Alibaba Group, alleviating supply-side concerns and allowing us to concentrate on customer acquisition and satisfaction.

Outcomes: Successful MVP validation, development of a functional technical product, positive customer feedback, and achievement of product-market fit.

Developed the complete software suite at just 10% of the local quoted costs and six months ahead of schedule.

Forged a strategic partnership with Alibaba Group for supply chain integration and technological support.

Optimized Customer Acquisition Cost (CAC) from an anticipated CHF 20 to an effective rate below CHF 14 through targeted campaigns and conversion optimization strategies.

Insights: Rapid market validation is crucial. Moving swiftly to market engagement allows for real customer feedback, which is invaluable. Developing the final product in tandem with customer needs ensures a customer-centric business model.

Future Considerations: Our forthcoming focus will be on intensifying marketing efforts, establishing our brand presence, and navigating the growth phase successfully.