“We have made good progress in advancing Wish in a positive direction toward long-term growth and profitability,” said Jacqueline Reses, Executive Chair at Wish. “From a financial perspective, we exceeded our bottomline guidance range in part due to more efficient and reduced digital advertising spend.”
Wish has had significant growth in women’s apparel as well as a 147% jump in women’s lingerie. With “Product Boost”, Wish e-Commerce is now paving the way above other e-Commerce competitors.
“During the 3rd quarter of 2021, we continued to implement our aggressive plan to make key strategic, operational and structural improvements, which we believe will enable Wish to achieve its full potential. The foundation of that plan is to improve and maintain trust with our buyers, and to provide a differentiated and engaging buying experience. In doing so, we expect to drive long-term growth and sustainable unit economics for our eCommerce platform. By redoubling our focus on our most frequent buyers, we’re learning what features and products are most likely to catalyze our entire user base to engage and buy on Wish. We are confident in our ability to return to growth during the second half of 2022, while creating significant shareholder value over time,” concluded Reses.
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