Wish reveals its 2023 transformation plan! These are closely related to sellers

It is learned that on December 15, the 2022 Wish Global Annual Seller Summit was held online. Many Wish executives shared the platform changes and future plans in the past year, and discussed key issues such as key platform operations tasks, future trends in traffic, merchant expansion, and improving logistics timeliness.

With the theme of "Dare to be New, Dare to W", the summit re-announced how Wish will improve customer experience and deepen merchant relationships in 2023. In 2022, Wish carried out a comprehensive brand reshaping and launched a new brand logo, APP application icon, font image and color scheme.

In order to optimize sellers' sales business, Wish adjusted the platform's commission model in early 2022. Under the new commission model, if companies mainly sell key categories of products with high unit prices, they will enjoy a lower commission rate.

Wish Chief Financial Officer and Chief Operating Officer Vivian Liu pointed out that the price of the product is only one factor in the tiered commission model. Other factors include the order destination country and region, product category and the merchant's Wish Standards level.

Faced with a huge merchant base, Wish began to establish an invitation-based entry mechanism and launched Wish Standards in early January 2022. Under the WishStandards system, store tiered management (including four levels: platinum, gold, silver, and bronze) dynamically evaluates the store's development capabilities and potential through multiple comprehensive data, and continuously encourages merchants to operate stores with healthy, stable, and long-term goals.

Wish Fashion is a project launched by Wish for the clothing category, which has always been its advantage category. Wish also plans to expand Wish Fashion to jewelry and accessories categories in early 2023.

VivianLiu said at the summit that Wish will focus on promoting lifestyle and home products, including fashion, beauty and health, home furnishings, hobbies, electronic products, etc. 2,700 merchants and 160,000 selected products have joined the Wish Fashion project, and the strategy of category operation will continue to be promoted in the future.

This year, Wish developed a new tool, DealsHub, which is a merchant promotion platform. Sellers can submit promotional product information on the promotion platform and use ProductBoost to increase exposure.

In 2022, Wish also made significant progress in improving logistics timeliness.

Jane, Director of Wish Global Logistics Solutions, said at the summit that compared with last year, this year's fulfillment speed TTD and on-time delivery rate have both improved significantly. The TTD of China's exports to the global 90th percentile has been shortened from 28 days in the third quarter of 2021 to 23 days in the same period this year. At the same time, the global on-time delivery rate has increased from 80% to about 92%.

In terms of logistics price levels, the average freight cost per order is basically the same as last year. In terms of returns, Wish has introduced new goals and operating guidelines to give more autonomy to merchants with high trust. In 2023, Wish will continue to promote forward warehouses in China to improve the conversion rate of Chinese goods and the operating efficiency of merchants.

Editor✎ Ashley/

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