Wish Announces Bold Steps to Improve Product Quality Along With a Greater Focus on Discovery Commerce
November 09 2021 - 9:00AM
Business Wire
Details are revealed at Wish’s Global Merchant
Summit
ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the
world’s largest mobile ecommerce platforms, today shared details
about its plans to improve product quality on the platform. As part
of a broader effort to improve user trust and increase customer
retention, Wish is introducing the Wish Standards program to
incentivize quality products and other positive behaviors from its
merchants.
The new program, which was announced at Wish’s Global Merchant
Summit earlier today, measures merchants against a defined set of
criteria spanning product quality, shipping experience, customer
reviews, refund rates and compliance with Wish policies. Merchants
who qualify for the program will benefit from commission discounts,
expedited payment terms and greater exposure for their products
within the app. They will also carry a ‘Premier Merchant Badge’
that will feature prominently across their product listings and
merchant store.
“Our Wish Standards program measures the performance of
merchants in areas that matter to consumers most. It enhances the
end-to-end buying experiences on our platform by rewarding
high-quality merchants who consistently provide a better user
experience,” said Farhang Kassaei, Chief Technology Officer at
Wish. “Our ultimate goal is to align our merchants’ success with
that of an enhanced user experience. In doing so, we hope to
improve user trust and demonstrate our longer-term commitment to
product quality.”
During the summit, Wish also announced plans to deepen its focus
on discovery commerce in order to attract the next generation of
buyers and brands. Starting with a homepage redesign that began
rolling out last week, showcasing rich banners, deals, brands and
trending products, Wish also plans to introduce shoppable video
over the coming months, further blurring the lines between social
and commerce.
“Our user experience is built around the concept of helping
shoppers discover products and brands they love, and we’re leaning
into that discovery element now more than ever,” said Tarun Jain,
Chief Product Officer at Wish. “We believe the future of ecommerce
will be built around the serendipitous discovery of products. By
acting as a hub for inspiration, we hope to provoke interest and
shape demand and, ultimately, be the pioneers of the next
generation of commerce.”
Wish’s Global Merchant Summit took place at the Renaissance
Shenzhen Bay Hotel on November 9th. More than 450 attended the
1-day summit in person, and more are expected to join the virtual
event online. The speaker line-up included Tarun Jain (Chief
Product Officer), Farhang Kassaei (Chief Technology Officer), Sarah
Luo (Director of Business Development), Emma Chen (Global Logistics
Director) and Dan Yu (Product Manager-Wish Standards).
Presentations from the summit are available in English, Mandarin,
French, German, Spanish, Korean and Japanese and accessible via
merchant.wish.com/wish-merchant-summit-2021.
Wish Standards forms part of Wish’s broader push to improve
product quality across the platform. As part of that effort, Wish
is actively diversifying its merchant base outside of China in
order to expand product selection and improve product quality.
About Wish:
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 in over 100 countries to over half a million 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.
Forward-Looking Statements
This 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, expectations regarding partnerships, and
growth opportunities. In some cases, forward-looking statements can
be identified by terms such as “anticipates,” “believes,” “could,”
“estimates,” “expects,” “guidance,” “intends,” “may,” “outlook,”
“plans,” “potential,” “predicts,” “projects,” “seeks,” “should,”
“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 Annual
Report for 2020 on Form 10-K filed on March 25, 2021 and its Form
10-Q for the second quarter of 2021 filed on August 12, 2021, 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20211109006049/en/
Media contact: Carys Comerford-Green, Wish
press@wish.com
Investor contact: ir@wish.com
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