Wish’s VP of Product talks about unlocking global eCommerce for your business
Not too long ago, getting in front of a global audience was a privilege only available to the Nikes and Coca-Colas of the world. But thanks to the internet and democratization of commerce, international eCommerce is no longer a pipe dream for sellers. For most, it’s a natural part of their brand’s evolution.
Mauricio Monico is at the forefront of it all. As VP of product for merchants and logistics at Wish, he has seen countless founders tap into the global market by leveraging Wish’s massive platform. Today, Wish is available to users in more than 60 countries—with the largest markets being the U.S., U.K., and Europe.
Below, Mauricio gives his two cents on how to compete in the international playground and unlock new growth for your brand with Wish.
Read Also: How to sell on Wish
Wish has been at the heart of global commerce for over two decades. In that time frame, a ton has changed. And most recently, merchants have been at the mercy of new international shipping rates and oft-talked about supply chain disruptions. How have these shifting dynamics impacted the competitive playing field or the focus at Wish?
Mauricio: The increase in international shipping rates and supply chain disruptions has been an ongoing issue that could continue into 2023. Merchants are forced to explore new delivery options and plan further in advance for peak seasons—which can be difficult for the smaller merchants. Inflation is another headwind that merchants are going to have to navigate.
While supply chain, manufacturing, and logistics costs continue to rise, we [at Wish] are constantly adapting our end-to-end logistics services to ensure they are as competitive as they can be for both our merchants and our consumers.
Our agility is our strength as it allows us to focus on improving the shipping speed and on-time delivery for our consumers, while minimizing the freight costs and risks for our merchants.
That said, price is one of the most important factors for Wish consumers, so many are willing to wait a bit longer for items that they purchased at a great bargain.
What are common traits of sellers who are best equipped to succeed on Wish? How has that changed over the last several years?
Mauricio: Every marketplace is different and it is important to understand their USPs, key features, and customer demographic in order to adapt your product offering and get the most out of it. The sellers who understand this really succeed on Wish.
Wish is a mobile-first, discovery-based marketplace. Sellers who are diligent about providing high-quality images that showcase their product's features and use cases in a visual way are likely to attract more consumers.
As Wish evolves and explores new features like shoppable videos (aka Wish Clips), the need for more immersive content from sellers will grow even further. It’s the sellers who can adapt to these new features that will gain an early adopter advantage and the benefits that come from that.
Another important way that merchants can succeed on Wish is by focusing on providing an excellent customer experience. We recently introduced a Wish Standards program that rewards merchants in areas that matter most to consumers—product quality, shipping experience, customer reviews, refund rates, and compliance with Wish policies. Merchants who perform well are rewarded through commission discounts, expedited payment terms, and greater exposure for their products within the app.
Finally, sellers who sell internationally on Wish tend to do better than those who sell to their domestic markets only. More and more, we’re seeing sellers use Wish to try out new markets they've never worked with before, giving them access to a much broader database of consumers.
I think it’s safe to say that “going global” can seem like a blackbox for many U.S. sellers. What are some fears and issues of going global that Wish helps to address?
Mauricio: The two biggest fears a seller has when selling outside of their own country are around navigating the logistics (including returns) and local regulations.
Ecommerce logistics: it can be daunting to find a carrier that is able to not only handle shipping to your target destination but can also handle reverse logistics as well. This is something that Wish goes to great lengths to support its merchants with. For example, we ensure that all major carriers are trackable on Wish and enable merchants to set their own return warehouse destination.
Local regulations: The legislative landscape is constantly changing and for an international seller, it can be a challenge to stay on top of the legal requirements of each of the countries it operates in. One of the strengths of Wish is that we have programs and features in place to help our merchants ensure they remain compliant with local laws and standards.
What are the truest drivers of conversion and sales on Wish? Is it—as many say—primarily driven by price or are there other influential factors that sellers should be prioritizing?
Mauricio: Wish users are predominantly ‘value conscious’ with 43% of our users being millennial and with an average Wish user income being $50,000.
This does not mean that they will only purchase lower-priced items, it just means they seek great value. They will often consider a product or merchant store rating to inform their purchasing decision, so as a merchant, it’s important to ensure you are consistently providing great service.
Whilst our consumers expect to pay for shipping—particularly on international orders—a shipping price that is too high may also result in a lower conversion rate.
Finally, I would say shoppable videos can help convert consumers especially if they are able to see examples of a product’s use case. This extra dimension of content builds trust and assurance for the consumer which, in turn, will improve conversion rates.
Beyond some of the more obvious benefits of Wish (like an established customer base, a great mobile app, etc.), what are some other benefits of going international via Wish that sellers may take for granted?
Mauricio: Unlike more traditional marketplaces where a seller has to create a new account for each country they sell to, on Wish, you manage everything through a single account in your preferred language and currency. Wish will convert currencies for you and translate your titles and, for some regions, product descriptions.
Being a discovery-based platform, over 70% of transactions take place without a search. This means Wish does a lot of the heavy lifting for the seller where we match the right product to the right consumer persona. This can be a challenge for merchants in the markets where they have no experience.
Wish is an especially appealing shopping destination right now, as global inflation is causing many shoppers to turn to more cost-effective options. How can sellers (even those who aren’t necessarily ready to go all-in on international commerce) use Wish to jump in on this opportunity?
Mauricio: Ensure that you take the time to list your full product catalog, which is easy to do using the Wix integration. Too many sellers start small with their listings and build up their listings over time, but Wish favors merchants who add more products from day one.
Invest a bit of time and effort in enrolling your products into Wish Clips and Wish Standards. These recently launched and revamped features are specifically designed to help you drive more impressions and conversions—plus rewards our premium merchants.
Going forward, keep up to date with the new feature releases being launched and do not be afraid to give them a chance. Wish has a lot of exciting updates coming soon that will become core components of the platform. By investing time into understanding these features, you will gain a competitive advantage.
Editor, Wix eCommerce
Allison is the editor for the Wix eCommerce blog, with several years of experience reporting on eCommerce news, strategies, and founder stories.