Type of Store: Various Cheap Crap
Wish is probably best known as the app you found out about on a Facebook ad, that has tons of very, very cheap things to buy that take a very, very long time to deliver. Wish is probably best known as the app you found out about on a Facebook ad, that has tons of very, very cheap things to buy that take a very, very long time to deliver.
If you make a quick Google of Wish you noticed that they have extremely low rating overall. Some customer sites, even have ”scam alerts” on them.
When you receive your order after about 6 weeks wait here in Europe, you will with a 95% likelihood be disappointed in the quality. If the merchandise you ordered are broken, then god luck getting the non existing customer service to help you out!
So to conclude … Fuck Off Wish, with your $0,5 fake prices that after we order, you always cancel. Strangely enough, you never cancel the ones ordered for ordinary prices. This is all you just skimming the customers. On top of that, then you have the fucking audacity to make me as the customer put in time to tell you how to refund my money. Every online company in the world just credits the card it was payed with, but you are probably hoping for people to not bother with such a small amount.
FUCK YOU WISH, FUCK YOU VERY MUCH!!!
They are probably the first e-commerce blockbuster success since the start of the smartphone era, truly mobile-native from product to distribution. They have also broken many of the business rules of e-commerce, things that e-commerce experts run around saying are absolute requirements.
So, some of what is known:
- in 2016 passed $4 billion GMV (from zero just 3 years prior — that is Uber-esque growth)
- average customer orders 16 times/year (!)
- they are just a marketplace, but now opening warehouses to cut shipping times
- charge a take rate of 15%
- have been cash flow positive all of 2016
- raised ~$1.1 billion from various investors, but as of late 2016 still had $1 billion in the bank unspent
- revenue grew 3x year-over-year
- customers already in the ‘hundreds of millions’
- top priority is shortening long delivery times (most merchants selling on Wish are in China)
- launched “Wish Express” to shorten average delivery to 6 days
- Express launched mid-2016 in US and Europe
- Express already 7% of US GMV
- aiming for 2–3 day delivery in Europe “for the markets we really care about”
- running at break-even on purpose (amazon strategy of reinvesting profits into further growth)
- 300,000 merchant sellers on Wish (2 million on Amazon, by comparison)
- for majority of sellers, wish represents 20%+ of aggregate sales
- buyer side: NPS has increased “from 50s to 87”
- 120k customer care interactions/day
- moving into other value categories: selling refurbished ipads, macbooks, will get into fashion
- focus is on browsing, specifically don’t showcase search (”fewer than 10% of transactions had a search query in the session”)
- on iOS, wish is Top 5 Shopping app in 45 countries
- on Android it is Top 5 Shopping in 52 countries
- over 1000 employees