Whatever Happened To Wish.com?
ฝัง
- เผยแพร่เมื่อ 4 มิ.ย. 2024
- Remember wish.com? They were the Temu of the world before Temu existed. They specialized in selling ultra-cheap goods online almost like an online dollar store. One of the only reasons this was possible though was because Wish.com was taking a massive loss on each and every item sold. While this was extremely effective in growing Wish.com, it built very little customer loyalty. Customers were only loyal to the price and when the prices went up, the customers went away. But likely the biggest problem that wish.com faced was terrible quality control. Given the nature of wish.com, the site was flooded with a bunch of knock-off sellers who sold terrible quality goods or straight-up ran scams. This largely eroded consumer trust and people slowly became scared to buy on wish.com. This video explains the rise and fall of wish.com and what happened to the company.
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Timestamps:
0:00 - Wish.com
2:25 - A Failed Business
5:06 - A Revived Business
8:19 - Cracks Appear
10:27 - Losing It All
Resources:
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Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research.
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The moral is, if someone offers a few million for your company, turn it down. If someone offers a few billion, accept 😂
😂
This advice worked out real well for Yahoo back in 1998 🤣
These middleman companies aren’t meant to last more than a few years. Selling for the highest price is all you can hope for.
Truly said 👍
Same thing I thought. He should have taken the $10BN deal offered by Bezos.
Wish's whole business model was "we'll offer you something too good to be true, and it won't be true"
... but you'll *wish* it was.
Boom tish 🙃
😂🤣
XDD
It's simple actually when people buy something online they expect it to arrive.
Hahaha
Or at least arrive sometime in the next month.
Wish would take like 2 to 3 months.
I think the simple answer is they got Temued
Eh, they weren’t doing too well even before Temu entered the scene
I picked Temu for the appearance of free shipping. I go to wish, find a cheap item and i have to pay shipping, sometimes the shipping is the same price as the item itself.
I'll look past all the Temu tracing/tracking for the app, for some cheap priced junk that I sell for double for triple to price on facebook marketplace 😅
Came to say they rebranded to Temu lol
As an individual and also for work I still get stuff on Ali, I never shopped on wish or temu 💀 Ali is the silent player that takes it all, with the CCPs helping hand of course 😂
Temu will get their exactly same result in a few years.
Temu probably bought all the items on wish and just rebranded
yep
Hahaha, no need, they can just go straight the the suppliers and undercut Wish
I'm sure many supplier switched from Wish to Temu. Although I have different opinions of the companies. I've always perceived Wish as scammy. Their focus on algorithms and not adopting a traditional sales model was worrying. At the time, bidding shopping site were still popular and those were a big scam. So I've always thought Wish might come up with some unorthodox sales method.
On the other hand I've always perceived Temu as being more trustworthy. Their website is laid out like a traditional online store. Prices for items and shipping costs are clear and unambiguous. The company is not coming straight at me with some confusing marketing.
Temu's stuff is actually OK [for the price charged]. Wish has a reputation for being an outright scam.
I doubt it, I once bought some stuff from Wish and it's pure trash. Bought a crystal ball with what looks like a nice wooden holder stand, the ball was size of small marble and the stand is a scrap of plastic the size of my fingernail. Temu size is correct as measurement they showed and somewhat looks and works as expected.
I “wish” all these Chinese junk shops would go out of business.
Including the no-name Chinese junk brands that are flooding Amazon.
does Amazon has it's own factory? does Amazon produce anything? No!
without none brand Chinese junk goods, Amazon is a empty shop.
@umbrellastudio7481 okay Chang, there was a time when theybsold exclusively murrican
@@cpK054L your comment and people have similar mindset as you made me feel so sad & pathetic, at this point, which country can stop China? USA or India or Australia?
@umbrellastudio7481 india is quickly scooping up all chinas customers, theyre democratic, have more ppl than china now, and its easy for shops to hop one border and start up again 😂
@@thelegendaryckwho cares if India is democratic? Many countries in the world are democratic as well and they would never catch up with China in terms of manufacturing efficiency or consumer market. That means democracy has zero meaning to business at all.
Wish lived by the discount and died by the discount
When people use your brand as an example of inferiority you know you have a serious problem 😅. Online people say he's the Wish version of so and so lol.
And AliExpress
Hahaha facts
You ever watch "Tyler Tube"? He's known as the "Walmart" version of "Project Farm" but he still does pretty good!
So Wish is Wish ordered on Wish?
isnt walmart a symbol of inferiority? they r doing fine?
TEN billion declined? Oh man I'd have taken the money and run.
Hahaha, but with that mindset, you’d prob not have gotten the $10 billion offer in the first place
Yeah these idiots really dropped the ball. If you're offered billions for your trash can idea you came up, you take it. 🤣
@@LogicallyAnswered Your name checks out.
@@roderickmacdonald7487hush down child.
Holy shit I thought he said million
Temu buys it directly from the kids in China.
😳
Temu is a platform. Not a wholeseller.
actually whats more important as someone who yes cracked and used temu A they have a pretty good refund policy and often do sell the exact same items as some things on amazon for half the price the shipping times are not as bad as u would think most only take around 7 days or a week as they have been using air not ship to transport the one package that took longer wasn't actually because of temu but because USPS took 5 days to pick it up from customs as much as I REALLY do wanna laugh at temu and call them trash its actually a good shopping app I've been using it along side amazon I just ignore all of its gamification BS that tries to force u into buying cheap trash if u can avoid that u can get some decent stuff for good prices
i have bought around 20 or so items from temu costing around 1k as one item was over 600 I wont say what but besides that it ALL did come nothing missing
Source: out the ass
$10 billion isn’t cool, you know what’s cool? $173 million 😎
Should have sold it at 10 Billion back then, and now would be chilling an their own private islands somewhere. lol
@@BillAntYou can live a fairly chill live with 173 million too
@@edwardblake8575- Sure but a 100 times more would be even more chill. lol Anyway, 173 M - 73 M taxes = 50 M .... 50 M / 2 partners = 25 M each.
173 > 10
No brainer if you're above 3rd grade..
@@max5183- lol
and now i hope that in one year we never hear from Temu again. 🙏
go away..
@@IceWolf1102hush down kid.
@@IceWolf1102 yeah, temu should go away
0:14 just wanna point out that "candy" is flavored rolling papers 😂
I bet they *wished* to be sold earlier and delivered to Amazon instead
Hahaha, too late for that now
Amazon probably would've just deleted wish to implement it into amazon 😂
Hmm... it's almost like if you sell cheap trash that takes weeks or months to arrive. People will only buy a few times and get sick of getting burned.
I learned this with DealExtreme back in the 2000s
Moral of the story, don’t overspend on marketing. Play the long game and preserve cash.
You left our one major factor - Auto sears. These illegal gun parts convert semi automatic guns into fully automatic guns. These illegal items were openly advertised on wish and suggested to consumers. It got so bad gang members would rap about "wish auto sears" or "wish switches." Which attracted the ATF's attention. That could not have been good publicity
What is bro yapping about 💀
wtf are you even talking about bro, none of this ever happened lol
Wait what? I missed out on this?
Noone would stop using it cuz of that
Real, just search about it. ATF was making arrests based on these orders
There is a reason there are TH-camrs that make a career just reviewing the junk sold on Wish.
I bought an aux cord for a buck from them, and it took about 3 months to get it
Oof hahaha
yea its bad temu kinda just does everything wish did better its cheap stuff comes fast maybe not amazon fast but reasonable
Dude, I ordered an otg cable on aliexpress and it didn't arrive until a year later when I got a refund,
it was funny.
@@SL4RK thats rough i have never used aliexpress so I cant tell u if its good or not
@@admiralkaede Well on one hand I saved a whole dollar, but on the other hand I just gave up and bought it at the local store.
Ironic that the ad in the middle of this video was for Temu
I ordered 4 things on one order once. Total crap, poorly fitting, subpar quality etc etc. the shirts for example were cheap polyester instead of cotton and instead of being two different pieces, the front and back were exact same design just stitched together.
I never ordered again. I may as well have lit 50$ on fire.
At least then you would've been warm
@@Wumbo_the_Mumbo they were supposed to be summer tank tops :p dragonball z ones.
Temu is gonna go the same way. Selling garbage is not a viabe strategy.
Plus they gaslighted prices and quality and its downhill from here
garbage which you may or may not receive
The only time I heard about temu was on TH-cam ironically..
Mostly because they have put a lot of money into TH-cam influencer advertising.
I just found this channel and I'm addicted. The presentation is so captivating and each video is packed with info
I assumed they rebranded to temu
This whole time I thought WISH was a Chinese company like TEMU
Same here
Temu does everything better than Wish including sending out toxic products
No mention of Aliexpress ... at all !
So once Wish goes bankrupt, will people then say "It's the Temu version of the product you wanted" or something?
Like how people said about Wish?
I love this key factor.
Wish users are loyal to the price, not to the retailer.
Anyone else have a temu ad on this vid
NEVER would I call a 500k subscriber youtuber underrated, right, RIGHT?!
Well, this one ladies and gentlemen is ✨underrated✨.
Thanks for providing us with good content, editing, soft voice and a lot more♥️
They took that 99% off mentality to heart
Indeed hahaha
Should’ve sold out to Amazon. Could’ve bought 10 more wishes.
The reason it's down 99% is because of me. I have been holding it since 2021. I will lose 30k on this pos if I sell. I'm sure it will go up 1000% once I sell, and you can make another video on how that happened. Just mention me. 😂
Shame on you! You should sell so that everybody else can make money :)
@@LogicallyAnswered I will soon. You will know when it has a 100% gain day.
I hope you're telling the truth
@@fajaradi1223 I am.
Thankfully, I already don't remember this.
This is a successful venture man in terms of spreading money from rich to poor or atleast more people
Great video brother!! Thanks!!
Thanks as always Daniel!
I got a Temu ad after this video 😂
Very good and thorough video. Thank you very much
I remember buying something off them and not ever getting it
Marketing can’t undo terrible experiences
Wish was great in theory, but not once did I receive something that even looked like what I purchased.
i think that when I ordered what was advertised as a box of Christmas tree ornaments but ending up receiving a box of tampons instead had a bit to do with their demise.
The real issue was Piotr’s side project taking up too much of the company resources; trying to solve the screen door on the submarine problem 🤔
I'm not ever going to turn down a $10 billion offer for my startup.
Just collect half in cash and the rest in stock in the buying company.
Ironically, all investors and founders have definitely made their money back before now.
They sold junk products that often times weren't what was advertised if they ever even arrived.
Also, to all the people saying they became Temu: No. Temu's business strategy is to take a loss on the products then sell your data for a princely sum
Wish sold Trash. The end.
im shocked, most of my clothes came from wish and were extremely good quality.
I think temu is what happened to wish 😅
0:13 the picture he used for "candy" lmaoo
It was basically Amazon, but ordered on wish...
Zack Morris aka Constantin Cuckmeister pumped this stock back in 2021
I ordered those orbeez things and just said it didn't arrive and got a full refund 💀
'candies' shows rolling paper 0:15
So nice… they’re even selling their stocks for 99% off❤
I just assumed they rebranded as temu
They were about to send me a laser pointer that is probably very unsafe for absolutely free but i didnt wanna give my address
Back when underdeclaring was way way too much of a trouble.
I remember the 10eur good grace on packages from outside the EU. Suddenly after this becoming a problem then they did away with this and you had to pay VAT on everything...
Farewell to Wish, it will never a comeback not when Temu is around.
Temu?
Wish: Sells Chinese junk
Americans: I don't need more Chinese junk
Temu: but what about a 70% discount?
I remember buying something from wish, I think it was a shirt and with it, it said "we'll send you a free silver watch". I was like what! a free watch.
Delivery came and I saw the watch. It was made of plastic and the watch face was painted on. I couldn't stop laughing! They didn't lie, the watch was painted a "silver colour".
Oh the shirt was garbage as well.
They should have invested in american manufacturing and 3d printing with the early profits
I just don’t know why people were/are so into buying cheap crap that‘ll either break or get thrown away after a week max.
temu will follow the same path with such an unsustainable operation.. good riddance to both
Wish sellers moved to amazon
Wait what? Wish was popular all the way in 2016? I never even heard of Wish until the 2020s. Tf?
They got competitors honestly!!!
Well, that’s never bad for consumers
If you sell crap, you become crap... simple as that.
Hey a fellow student from Loo haha
I still have an inkling that it's money laundering.
can u do a video on banggood ?
Sounds like an escort review site! 😂
Time to short TEMU stock
won't be selling much soon..
Its called temu now
They became known as a punchline.
How much did you pay Ben Hedges to promote Silo?
Hahaha, NDA man
Even in the name, it just gives you a obvious clue!
Piotr took the Communism with him to Canada it seems.
I remembered ordering cheap sh!t that would break ASAP or barely worked 😂
I often joke that temu is just wish in a more fancy coat
Wish with far more personal data harvesting
I love shopping on Wish.
WHAT UP WITH THE ADs BRO?!!!
TL;DR: covid ad costs spike, competition and zero customer loyalty
It's legit a ponzi scam...the guy running the company he really had not idea what to do!?
Just an fyi but his name isn't Peter. His name is Piotr (more-so pronounced as Pjotr). It takes some quick research to hear how to properly pronounce the name.
Why did you deliver an item I bought to an address 5 hrs away and kept my money. And refuse to answer my question.
I don’t understand how a business that loses millions of dollars every quarter, can be sold for 173 million. Surely it should be worthless?!
They have customer data which is very valuable to the buyer
If zuckerborg offered to buy my business too would reject it out of principle.
Many of those products are so bad that they should never be sold. I don't even trust they don't contain all sorts of chemicals and heavy metals that might do harm to our children or us, or maybe catch fire from an innocent spark or candle. I just don't know how one could efficienctly filter them out. If one discovers hpw to sell cheap only the good(ish) products, that would be a hit.
10 billion !!!!!!!!!!!!!!!??????
I thought the -99% on the thumbnail was a discount 💀
that wasn't candy bro, that was rolling paper for joints.
Wend he said 2020 you heard the curry😅😅
I bought a watch of Wish. When it arrived the face and hands were printed on and had fake buttons. It didn't have any functionality..just looked like a watch from a distance. I was done with Wish after that. Wish became known for being a crap shoot roll of the dice of junk. It became a punchline and meme. That didn't help.
Also you forgot to mention the pop culture effect, due to countless memes which forever tainted the brand name. The name ‘wish’ became synonymous with disappointing and subpar.
I made a nice return on AMC when it was a meme stock and not a pathetic laughable cult. I lost all of that on Wish stock thinking it was going to be my next 600% return. 🤣
Oh well.
My regards
Didn't it just turn to temu
Zach Morris happened!
And went to jail for it
The thing is they're wish to be a scammer's nest