Wish Introduces Flat Rate Shipping to Customers in the U.S.
February 01 2023 - 9:00AM
ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world’s
largest mobile ecommerce platforms, today announced the phased
rollout of a new $2.99 flat rate shipping fee that will be applied
to all ‘flat rate eligible’ orders over $101. Flat rate shipping is
launching to app users in the U.S. this month, and will be rolled
out in phases to Wish’s other key markets by the end of March.
The move is part of a broader effort to improve
the shipping experience on Wish which has, in the past 6 months
alone, seen a dramatic improvement in on-time delivery rates (94%)
and a significant reduction in time to door (15 days in key
markets)2.
“Shipping costs have been a major pain point for
our users for some time, so we’re delighted to have found a flat
rate shipping solution that not only offers our customers great
value, but also carries no additional cost to our merchants,” said
Mauricio Monico, Chief Merchant Officer, Product at Wish. “Today,
around 85% of our product listings are eligible for flat rate
shipping, but our goal is to include all of our product listings in
the program over the coming months by the end of the year.”
Flat rate shipping does not apply to Wish’s
‘ship to store’ or ‘express shipping’ service. It is also currently
only available via the Wish app on iOS and Android. Web and
mobile-web will follow in the coming months.
To learn more about Wish, visit
www.wish.com.
About WishWish (ContextLogic Inc. (d/b/a Wish))
brings an affordable and entertaining shopping experience to
millions of consumers around the world. Since our founding in San
Francisco in 2010, we have become one of the largest global
ecommerce platforms, connecting millions of value-conscious
consumers to hundreds of thousands of merchants globally. Wish
combines technology and data science capabilities and an innovative
discovery-based mobile shopping experience to create a
highly-visual, entertaining, and personalized shopping experience
for its users. For more information about the company or to
download the Wish mobile app, visit www.wish.com or follow @Wish on
Facebook, Instagram and TikTok or @WishShopping on Twitter and
YouTube.
*Ship-to-store feature is available in select markets
____________________________
1 Products eligible for flat rate shipping are those that are
shipped from merchants in China who use our A+ logistics network.
All non-eligible items will continue to incur their own, separate
shipping fees.2 ContextLogic Inc. - Investor Presentation, Q3
2022
Forward Looking StatementsThis news release
contains forward-looking statements within the meaning of the Safe
Harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical fact
could be deemed forward-looking, including, but not limited to,
statements regarding Wish's outlook; priorities; strategic
direction; initiatives and features related to shipment pricing
structures, including flat rate shipping, their impact on costs and
customer shipping experiences; implementation timeline for
expansion of flat rate shipping; business operations; and growth
initiatives. In some cases, forward-looking statements can be
identified by terms such as “anticipates,” “believes,” “could,”
“estimates,” “expects,” “foresees,” “forecasts,” “guidance,”
“intends” “goals,” “may,” “might,” “outlook,” “plans,” “potential,”
“predicts,” “projects,” “seeks,” “should,” “targets,” “will,”
“would” or similar expressions and the negatives of those terms.
These forward-looking statements are subject to risks,
uncertainties, and assumptions. If the risks materialize or
assumptions prove incorrect, actual results could differ materially
from the results implied by these forward-looking statements. New
risks emerge from time to time. It is not possible for our
management to predict all risks, nor can we assess the impact of
all factors on our business or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements
we may make. Further information on these and additional risks that
could affect Wish’s results is included in its filings with the
Securities and Exchange Commission (“SEC”), including its most
recent Annual Report on Form 10-K and Quarterly Report on Form
10-Q, and future reports that Wish may file with the SEC from time
to time, which could cause actual results to vary from
expectations. Any forward-looking statement made by Wish in this
news release speaks only as of the day on which Wish makes it. Wish
assumes no obligation to, and does not currently intend to, update
any such forward-looking statements after the date of this
release.
Media contact:Carys Comerford-Green,
Wishpress@wish.com
Investor contact:Ralph Fong,
Wishir@wish.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/565c6e36-2136-4c31-981d-ecc471df785e
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