Research summary for KK members

SPEAKER

German Research Summary3rd Nov, 2014

Dear KK member,

We have been working hard to identify the needs and problems of the Vinted/ KK community and to increase the level of satisfaction with Vinted/ KK.

We are providing you with the explanation of how the latest product changes were influenced by the research questions and what research methods we used.

We are, though, not able to provide the full data itself due to the highly confidential nature of it. Vinted/ KK is a portal existing in a very competitive environment so open sharing of problems, strengths, changes in plans and other data would make KK vulnerable to competition.

Thank you for your understanding :)

Your Vinted/ KK research team

• 4 members + local markets experts to perform interviews in German

• 2-10+ years of market research (MR) and data analysis experience

• Experience in international/ global MR companies

• Have been conducting research regarding members' problems, gathering product satisfaction feedback and conducting other regular researches in all Vinted markets for the past 2 years

Research team

Methods used for KK research

• A semi-structured conversation where a person is asked open questions to share his/ her experiences, behaviour, feelings, motivation, values and beliefs

• Info collected is verbal - words, descriptions • Smaller sample sizes required, because

there is no need to measure/ quantify the information (http://www.qualitative-research.net/index.php/fqs/article/view/1428/3027)

Qualitative research - in-depth telephone interviews

Quantitative research - surveys

• A structured list of questions (usually with suggested answer choices)

• Info collected is numerical - numbers • Large sample sizes required in order to

measure/ quantify the information (e.g., the size of the problem, the frequency of usage, the level of knowledge, satisfaction, etc.) (http://www.research-advisors.com/tools/SampleSize.htm)

http://www.snapsurveys.com/qualitative-quantitative-research/ http://aremaconnect.com/2014/05/market-research-qualitative-vs-quantitative/

https://themarketingdirectors.files.wordpress.com/2011/04/qualitative_vs-_quantitative_research.jpg

We use random (http://en.wikipedia.org/wiki/Simple_random_sample) and random stratified (http://en.wikipedia.org/wiki/Stratified_sampling) selection of respondents which ensures a chance for each member to get into the research and is highly representative for all population (all KK members).

The margin of error shows what is the possible deviation from survey results in per cent, if we surveyed each member (all population) without selecting a sample.

For each survey we select samples as large to have at most 2-3% possible deviation, which makes KK surveys highly reliable and representing the distribution of opinion on certain questions among all the members.

Sample size explanations with margins of error: http://www.research-advisors.com/tools/SampleSize.htm

Why our surveys are representative to all KK members?

Researches conducted

Qualitative research In-depth interviews with KK buyers & sellers

• Method: Semi structured one on one interviews over the phone (qualitative research) • Target: KK buyers and sellers with different level of experience on KK • Sample size: 50 interviews • Sample selection: random stratified • Dates: 1st-20th Aug, 9-19th Sep, 30th Sep - 10th Oct, 2014

Research questions: • A deep dive into the member experience on

KK and the biggest current problems with purchases on KK

• Members’ stories about the main problems to focus on in the nearest future

Findings - the top problems of: • Buyers are related to safety problems

on KK • Sellers are related to time consuming

and not user-friendly sales processes

Quantitative: KK member satisfaction survey

• Method: Representative survey among KK buyers (quantitative research) • Sample size: 1089 • Sample selection: buyers only, random stratified • Confidence level: 95% • Margin of error: 2.5% • Dates: 9-18th Aug, 2014

Research questions: • What is the KK buyer satisfaction

based on their experience in the last 3 months?

• What are the the current biggest problems with purchases on KK?

Findings: We have unacceptable number of dissatisfied buyers with their purchases. Top reasons are: • The item received was different than

expected • Member payed and didn't receive the

item

Quantitative: Payments and Shipping Preferences Survey

• Method: Representative survey among KK members (quantitative research) • Sample size: 2617 • Sample selection: random sample • Confidence level: 99% • Margin of error: 2.5% • Dates: 13-22nd Aug, 2014

Research questions: • What is the current usage and future

preferences of payment methods and shipping providers?

• What is the most wanted payment and shipping providers among KK members?

Findings: • Findings include most wanted and

trusted providers for payments and shipping services which we based our new services on. We have to apologise for not disclosing the lists because of highly confidential nature of it.

Net Promoter Score: willingness to recommend KK + feedback for score given

• Method: Regular representative survey among KK members • Sample size: 3000 • Sample selection: random sample • Confidence level: 99% • Margin of error: 2.5% • Dates: every 3 months for past year. Last: Sep, 2014

This research is a regular source of: • Information about member satisfaction

with KK • Opinions on lower or higher score given

(open question where we get plenty detailed personal explanations)

Findings: • Buyers feedback mostly related to fraud

problems and getting not as described items • Sellers feedback mostly related to need for

higher sales, problems with some buyers and time consuming and not user-friendly sales processes

• Full findings include a very long and detailed list of many suggested improvements which we consider and implement in prioritised manner, mostly by number of affected or benefiting from it people.