What factors are causing the decline in new property listings on 99.co's platform in Singapore during Q2 2023?

Introduction

The decline in new property listings on 99.co's platform in Singapore during Q2 2023 is a critical issue that requires immediate attention. As we analyze this product challenge, we'll employ a systematic approach to identify, validate, and address the root cause while considering both short-term and long-term implications for the platform's success.

Our analysis will follow a structured framework, beginning with clarifying questions to establish context, ruling out basic external factors, and then diving deep into product understanding, metric breakdown, and hypothesis formation. We'll then conduct a thorough root cause analysis, propose validation methods, and outline a comprehensive resolution plan.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking there might be seasonal factors at play. Is Q2 typically a slower period for property listings in Singapore?

Why it matters: Seasonal trends could explain cyclical declines and help differentiate between expected fluctuations and genuine problems. Expected answer: Q2 is usually stable or growing for listings. Impact on approach: If seasonal, we'd focus on year-over-year comparisons rather than quarter-over-quarter.

• I'm curious about the scale of the decline. Can you provide more context on the percentage drop in new listings compared to Q1 2023 or Q2 2022?

Why it matters: The magnitude of the decline helps prioritize the urgency of our response and informs the scale of potential solutions. Expected answer: A significant drop, perhaps 20-30% compared to previous periods. Impact on approach: A larger decline would warrant more aggressive interventions.

• Considering user segments, I'm wondering if this decline is uniform across all property types or concentrated in specific categories. Have you noticed any patterns?

Why it matters: Segmented data could reveal targeted issues affecting specific user groups or property types. Expected answer: The decline is more pronounced in certain property categories. Impact on approach: We'd tailor our solutions to the most affected segments if the decline isn't uniform.

• Given the potential for technical issues, have there been any recent changes to the listing process or platform infrastructure that coincide with the start of this decline?

Why it matters: Technical changes could introduce bugs or friction in the listing process, directly impacting new listings. Expected answer: Some updates were made to the platform at the beginning of Q2. Impact on approach: If technical changes align with the decline, we'd prioritize investigating those specific updates.

• Thinking about market dynamics, has there been any significant shift in competitor strategies or new entrants in the Singapore property listing market recently?

Why it matters: Competitive pressures could be drawing users away from 99.co. Expected answer: No major changes in the competitive landscape. Impact on approach: If competition isn't a factor, we'd focus more on internal issues and user experience.