FINN.no homes in on the young market with new classified service



FINN.no is launching the mobile app Shpock in Norway, challenging itself among young, urban users in the low-price segment in Torget, FINN's generalist marketplace.

 

"The young market is a key target group for FINN, and we hold a strong position there which we believe we can strengthen. We want to gain an even stronger position among younger users by continued product development, targeted marketing of Torget, and the launch of Shpock," says Sondre Gravir, CEO in FINN.no.

Room for more players

Shpock (shop in your pocket) is a mobile app for classified ads that is tailored to the young target group and their media habits and needs. The service originated in Austria and is now also operating in Germany and the UK.

In the past year FINN Torget has tripled its volume of advertisements and increased the number of unique users by over 30 percent. FINN's position in the young market is as strong as in the rest of the population. The strong growth in volume and traffic can be attributed to the fact that Torget was made a free service in April last year.

"In FINN and Schibsted we have a tradition of setting challenges for ourselves and of being proactive in our product development strategy. FINN's decision to launch Shpock fully aligns with this tradition, and it's fun to do it at the same time as FINN Torget is doing so well," says Gravir.

"We want to offer our users more options to buy and sell items easily or to give away items such as second-hand clothes, furniture and sports equipment. We believe that two classified services will attract even more users to advertise items they want to sell," he adds.

Adapting for younger users

While Shpock is based on local communities primarily in the low-price segment, FINN Torget covers the whole country and everything from exclusive brands to giveaways.

"We will be doing a lot of exciting things to develop FINN Torget in the time ahead. Among other things, we will be launching our own payment solution parallel with the launch of Shpock. It's fun to push forward on two fronts at the same time, says Gravir.

"By making Torget a free service, we lowered the threshold for advertising cheaper items and made more adaptations for young users. Together with Shpock, we believe that FINN.no can tap into even more potential in the young market," says Gravir.

Shpock will soon conduct a test launch in the Norwegian market and will be officially launched at the beginning of next year.

For more information, contact:

Sondre Gravir, CEO, FINN.no,
sondre.gravir@finn.no, +47 930 33 898

Kristine Eia Kirkholm, head of PR and Information, FINN.no, kristine.eia.kirkholm@finn.no, +47 932 47 875

Click here to read more about Shpock

Published: 11/6/2015 10:03 AM
Last updated: 11/6/2015 11:00 AM