Are you interested in joining the thousands of successful sellers on Wish earning revenue every day? Check out our official guide to becoming a successful Wish seller today!
The Wish platform has become part of the big three online retail stores servicing millions of shoppers every day. The big three consist of Amazon, eBay, and Wish. Together, these three ecommerce platforms sell over a billion dollars in merchandise every quarter! That is simply an incredible figure. If you have been wondering how to break into the Wish platform, here is your definitive guide to success.
Why do you want to sell on Wish?
If you are already selling Chinese products on Amazon, and eBay, you may be asking yourself, why should I care about Wish. The truth is that if you are not selling on Wish, you are losing out on potential revenue. The popular platform has some significant statistics that will make you rethink becoming a seller on the Wish platform. Those stats are:
● 300 million+ registered customers
● 10 million+ daily active shoppers
● 2.4 million+ daily orders
● 350k+ daily new registered users
● Available to buyers in 78 countries
● Considered to be the #1 mobile shopping app in the world
If those figures don’t make you want to become a Wish seller, then nothing will. You are almost guaranteed to succeed as a Wish seller if you can understand some basic concepts of buyer behavior.
Where are most of the products on wish sourced from?
Everyone knows that most, if not all of the products sold on Wish are sourced from Chinese wholesale suppliers. The platform has built a reputation as an extremely cheap alternative to Amazon, and eBay. Wish users are purely motivated by price, and nothing else. Quality is not an important issue for buyers on Wish. It works really simple, the cheapest sellers on Wish win most of the buyers. Chinese wholesale products are the perfect option if you are looking for low cost, low quality consumer goods. That is why 99% of the items sold on Wish come from Chinese manufacturers, and trading companies.
Now that you know where to buy your products, browse the Wish app to see what types of products you are interested in selling.
Browsing through Wish will help you discover which products stand out. If you don’t currently have any products in your inventory, this is a great way to discover which products are selling well. There are many different product categories on Wish, however not all sell equally as fast. Spend some time exploring the application and you will find which products sell better than others.
You also want to pay attention to product pricing. Wish has become popular due to the incredibly low pricing of its items. This is how it competes with Amazon and eBay. Therefore when you find a product, make sure you can compete with the competitions pricing!
Overall, clothing, electronics, and refurbished electronics sell the fastest on Wish!
According to market research, some product categories sell better on Wish than others. We have prepared a list for you that outline the top 9 product categories currently doing well.
It is also important to remember that successful sellers on Wish utilize a combination of tactics to attract customers. Simply having a highly sought after product isn’t enough. You also need to take into consideration the low price point, customer rewards, and other factors we will discuss in this article. For now, here is the list of 9 best selling product categories on the Wish marketplace:
● Clothing
● Shoes
● Automotive products
● Clothing accessories
● Watches, wallets and bags
● Gadgets
● Entertaining products
● Phone accessories
● Home decor
Minimize your product prices as low as possible
As we mentioned earlier, Wish is able to compete with Amazon and eBay by offering incredibly low pricing. Therefore, in order to compete with other sellers on the Wish platform, you must try to lower your prices as much as possible. In fact, the only way to guarantee your success as a Wish seller is to research the current price for products similar to yours and offer a lower cost to customers. Wish buyers are only motivated by the cost factor. Quality is not an important issue for Wish shoppers. Therefore, try your best to lower your product costs as much as possible.
Source products from china
Now that you know what products you want, and how much to sell them for, it’s time to begin finding your preferred Chinese wholesalers. As you may have noticed, most if not all of the products offered on Wish come from Chinese suppliers. This is great news, because you have the option to source some great products from Chinese wholesale suppliers.
Taking the time to properly locate the products you are looking for will be very important. Remember that you have a pricing requirement to contend with. In order to keep your prices as low as possible, you must search for Chinese suppliers who can meet your price point. Keep in mind that Wish buyers are not concerned with quality, but rather price. In order to stay competitive on Wish, you must offer the lowest prices!
Branded products will make you a more competitive seller
It has been proven that branded products are more competitive and offer you a greater chance at earning a customer. However, branded products are usually more costly to produce. If you are able to private label your products and keep your cost lower than your competitors on Wish, you stand an even greater chance at success.
It may help you to consider branding your products yourself once they arrive from China. You may be able to personally apply labels and custom packaging as your orders come in. This will be a cheaper option then asking your Chinese supplier to brand your products for you. Consider this option in order to keep costs down, and remain competitive against the competition.
Creating your Wish account will take only a few steps. They are fairly simple. Here is a quick overview of what you can expect
Store Details
You will begin by entering the details for your personal website. Many sellers are also selling their products on platforms like Shopify, woocommerce, and other platforms. If you are, you will be asked to share that information.
Disclose your revenue
Wish will ask for the amount of revenue you made last year from your online store. Don’t worry if you haven’t made any revenue, new sellers are welcome to join the platform. This question is only for Wish’s internal purposes.
Select your region
Next, you will select the geographic region that your products will be stored and shipped from. Remember that Wish only works with sellers from 78 countries. Therefore, make sure you come from a qualified country before you select this option.
Create your Wish store product listings
After entering your basic information, you will begin creating your product listings. As with any product descriptions, you want to make sure they are catchy, professional, and detailed. Taking time to create the best product descriptions is incredibly important. Failing to properly describe your products with the best verbiage and grammar can cost you customers in the long run.
If you are not the best writer, or don’t speak the language well, consider hiring someone to create this content for you. Potential buyers interested in your products will read every word you write for your listings.
Always keep in mind that the more content you can provide, the better. Sellers often times make the mistake of putting too little content, and that leaves buyers confused and full of questions. Therefore, always try to address every possible question your customers have and help them understand what your product is.
Wish registration fee
In the past, creating a Wish store was free. Anyone with a product to offer could join the site, and begin earning revenue. Do to the large influx of sellers, the company Wish has instituted a new store registration fee to slow down the amount of sellers joining their platform.
Since June 18th 2018, new sellers must put a $2000 USD deposit to become a seller. This deposit is fully refundable when you want to end your sales activity on the platform. Your deposit shows the company that you are willing to take your Wish store seriously and you aren’t wasting their server space! After paying the deposit, your store will go live for buyers to see!
Wish Merchant Fee
In addition to the store registration fee, you will also be responsible for Wish merchant fees. The total amount of their merchant fees is 15%. This means that the price of your goods plus the shipping fee you charge will incur a 15% commission from the company. This commission means that your pricing will have to allow room to cover for the markup, and still remain low enough to be competitive. That is why you must do deep research into your competitors before you begin the process of actually selling.
Use the Wish mobile app
One of the benefits of selling on the Wish platform is being able to do business on the mobile application. This means as long as you have access to your phone and an internet connection, you can chat with customers, view your sellers statistics, and receive orders. This is a great function, and many Wish sellers take advantage of it. You don’t have to be stuck behind a computer to track the earnings of your business. With the increased flexibility, you are free to enjoy your life, or perhaps work another job!
Reward buyers to influence customer retention
Rewarding your customers will help you achieve a high customer retention. As you know, stimulating repeat business is a great tactic to increasing the amount each customer spends on your store. Therefore, offering rewards in the form of free gifts will definitely entice customers to buy from you instead of your competition.
If you budget to include a free gift for your customers, your profit margins will go down. However, your sales volume will go up. Earning a tiny amount from many orders is certainly better than earning a large amount from a few orders.
Take for example the situation where a seller who is offering a free gift only makes $1.00 USD profit from every purchase, but maintains a monthly volume of 5000 orders. Compare that with a seller who makes $3.00 USD profit from every purchase, but maintains a monthly sales volume of 1000 orders. In this scenario, it is better to earn $1.00 USD and sell more than your competition.
Offer discounts for orders of multiple items
Another way to encourage buyers is to offer discounts when buyers purchase multiple items from your seller account. This is a fast way to sell multiple products to the same customer. In the long run, you will notice a higher per person spend on your store if you offer discounts for multiple items.
Wish has millions of daily shoppers that are looking for nothing but discounts and deals. Therefore, offering incredible pricing and discounts will surely work out in your favor. Try to be creative when it comes to discounts and offers. The more creative you can be, the more sellers will find your products attractive.
