Whatever Happened To Wish.com?
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Remember wish.com? They were the Temu of the world before Temu existed. They specialized in selling ultra-cheap goods online almost like an online dollar store. One of the only reasons this was possible though was because Wish.com was taking a massive loss on each and every item sold. While this was extremely effective in growing Wish.com, it built very little customer loyalty. Customers were only loyal to the price and when the prices went up, the customers went away. But likely the biggest problem that wish.com faced was terrible quality control. Given the nature of wish.com, the site was flooded with a bunch of knock-off sellers who sold terrible quality goods or straight-up ran scams. This largely eroded consumer trust and people slowly became scared to buy on wish.com. This video explains the rise and fall of wish.com and what happened to the company.
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Timestamps:
0:00 - Wish.com
2:25 - A Failed Business
5:06 - A Revived Business
8:19 - Cracks Appear
10:27 - Losing It All
Resources:
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Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research.
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