Comparing data from previous years, Wish has experienced a steep decline in the past two years
Wish has had a steep decline in the past two years compared to previous years
Although Wish is not the only shopping app that has experienced a decline after the pandemic, it is one of the few shopping apps that has suffered such severe losses. In addition, Wish is also one of the few shopping apps that has experienced a decline due to negative user reputation. Currently, Wish is constantly adjusting its strategies and attempting to reshape its brand image, but these efforts have not been effective in reversing the decline.
BusinessofApps has released the latest data statistics on Wish, revealing the changes in various indicators of Wish in the past two years.
Wish Revenue
Before the pandemic, Wish reported $1.9 billion in revenue for the entire year of 2019, and its founder boasted of making Wish the next Walmart. In 2020, Wish’s revenue increased by 31.5%, reaching a peak of $2.5 billion. However, in the middle of 2021, there were clear signs of decline.
Wish’s annual revenue from 2015 to 2022 (unit: million US dollars)
In 2021, Wish reported revenue of $2 billion, a decrease of 20%, and its performance in the second half of the year was even worse than in the first half. By the end of 2022, Wish reported its full-year revenue as $571 million, a year-on-year decrease of 73%, even lower than its revenue level in 2016, and its net loss increased to $384 million.
Wish’s net loss from 2019 to 2022 (unit: million US dollars)
In its Q1 2023 financial report, Wish reported revenue of $98 million, a year-on-year decrease of 49%, and an 87% decrease compared to two years ago.
Wish’s quarterly revenue from 2019 to 2023 (unit: million US dollars)
Wish Users
Wish’s monthly active users have significantly declined in the past year, from 90 million in 2021 to 27 million in 2022.
As of early 2022, the monthly active buyers on the Wish app were 74% lower than the peak period in 2020.
Changes in Wish’s monthly active users from 2017 to 2022 (unit: million)
Quarterly active users also saw a significant decline starting in the third quarter of 2021, currently at the lowest level since 2019.
Wish’s quarterly active users from 2019 to 2023 (unit: million)
At the same time, the number of Wish sellers has also decreased significantly, with about 600,000 merchants selling goods on its platform in 2021. It removed many merchants in 2019 due to counterfeit goods.
Wish merchants from 2018 to 2021 (unit: million)
Wish’s valuation peaked before its IPO in 2020, reaching a value of $11.2 billion. Its market value has since fallen sharply in the past 12 months.
Other statistics include:
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There are over 300 million products available on Wish
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One-third of Wish’s total orders come from the United States
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It is the fourth largest online market in the United States by sales volume
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Wish was the most downloaded shopping app globally in 2018
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Wish sells approximately three million products per day
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Wish’s revenue doubled from $1 billion to $1.9 billion between 2018 and 2019
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Wish’s main target audience is young people and the middle class
Editor ✎ Ashley/BusinessDialogue
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