ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world’s largest mobile ecommerce platforms, today announced its renewed focus on improving the customer experience, deepening merchant relationships and achieving operational excellence at its 2022 Global Merchant Summit.
During the Summit, Wish also set out its vision for next year, which includes a major overhaul of its shipment pricing structure in order to bring down shipping costs for consumers. In the first half of 2023, Wish will be looking at discounted shipping programs, ‘buy more, save more’ offers, and a simplified rate card for WishPost to enable these programs. The move is in direct response to consumer feedback which cites shipping costs as one of the major pain points within the Wish shopping experience.
Wish also provided a recap of its latest features including: the revamped fashion experience, Wish Fashion; the shoppable videos feature, Wish Clips; the merchant scoring system, Wish Standards; new guest checkout experience; and, the redesigned homepage which showcases the new brand and features collection modules, category tabs, wishlists and more.
“Our success is inextricably linked with the success of our merchants. That’s why we’ve spent the last year focusing on retooling our platform with our merchants’ needs top of mind,” said Joe Yan, Interim Chief Executive Officer at Wish. “The changes we have made to the user and merchant experience in the past 12 months are already yielding positive results. We look forward to building on those successes to strengthen the relationships with our users and merchants in 2023.”
The announcement comes on the heels of the launch of Wish’s Deals Hub – a promotion platform that merchants can leverage to increase product exposure opportunities across the Wish platform.
The Deals feature includes new entry points and opportunities for discounts, boosting and promotions that create a more inspiration-led shopping experience for users. Merchants can use the Deals Hub to participate in ‘Discounts’ (wide-ranging percentage discounts, running for 7-14 days), ‘Flash Sales’ (steeper percentage discounts, running for 12 hours), and merchandising ‘Events’ which allow merchants to align their promotional campaigns with Wish’s merchandising efforts (e.g. Everyday is Black Friday).
“We are extremely grateful for the partnership of our merchants, and truly believe that a world class customer experience is not possible without merchant collaboration,” concluded Mr. Yan.
Wish’s Global Merchant Summit was streamed live to audiences in China and was delivered via a pre-recorded webinar for all other markets. The speaker line-up included Joe Yan (Interim CEO), Tarun Jain (Chief Product Officer & Chief Customer Officer), Vivian Liu (Chief Financial Officer & Chief Operating Officer), Mauricio Monico (Chief Merchant Officer, Product Development), Sarah Luo (VP of Merchant Operations), and Michael Tang (Director of Logistics, North America). Presentations from the summit are available now in English and Mandarin, and accessible here. They will also be available in French, Spanish, German, Italian, Turkish, Vietnamese, Korean, Japanese later this month.
Check Out the New Martech Cube Podcast. For more such updates, follow us on Google News Martech News