So I listed a $9 item, had 3 interested people on the first day, but after that the item might as well just be marked sold or deleted because there will barely be any hits on it ever again. Major changes need to be made in the way your app and business works.
The current OfferUp business model will fail, mark my words. It's not practical for anyone to pay $2 to Bump a $9 item back to the top of the list. There should be a sliding scale to Bump or Promote item based on its listing price, not a flat rate. Sellers will be burned out by having to constantly mark sold and re-post their items. Buyers will be frustrated by stale/duplicate/expired/dead listings. The way things are, it becomes a part-time job just to casually sell stuff on here. Nobody wins.
So what do I suggest instead? OfferUp should move to a model where sellers purchase a credit balance up front and then if they want to bump or promote an item, it deducts it from their balance and base the bump fee off of a sliding scale
Right now, OfferUp is making $0 revenue from me (and probably a lot of others) because I think it is asinine to pay $7 or even $2 to promote a $50 item that might get it more views just for ONE SINGLE DAY. I'd have to be desperate to get rid of something to pay that much to push an item to the top of the list. Think about it! If 100 sellers spend 25 cents a day to bump their item, that's a lot more revenue than 5 sellers paying $1.99 to bump. Plus, proportional bump fees would encourage people to keep coming back to the app and promoting their listing and continuing the revenue generation. It's a win-win for everybody. Simple supply and demand economics.
Look, I WANT OfferUp to succeed, and I WANT to give them my business, but OfferUp could be making a lot more revenue from a lot more people if they offered flexible pricing that enabled sellers to pay a practical, proportional fee to bump/promote.
Ultimately the current OfferUp business model will fail because there are too many stale listings and too many people who have just given up because it's not practical for people who seriously want to maintain their listings. Sellers who are willing to pay a reasonable fee to promote and bump their item are the ones who will add value to the OfferUp community.
I strongly urge the owners of this app to take a better look at how to generate revenue, because for casual sellers like myself, it's back to Craigslist for the time being, as mediocre as it is.