Whatever Happened To Wish.com?

Рет қаралды 269,401

Күн бұрын

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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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Пікірлер: 410

@7rich79 3 ай бұрын

The moral is, if someone offers a few million for your company, turn it down. If someone offers a few billion, accept 😂

@LogicallyAnswered 3 ай бұрын

😂

@MewsicalMiqo 3 ай бұрын

This advice worked out real well for Yahoo back in 1998 🤣

@MrMadvillan 3 ай бұрын

These middleman companies aren’t meant to last more than a few years. Selling for the highest price is all you can hope for.

@shashankshekhar9476 3 ай бұрын

Truly said 👍

@Diskifaith 3 ай бұрын

Same thing I thought. He should have taken the $10BN deal offered by Bezos.

@mind-of-neo 3 ай бұрын

Wish's whole business model was "we'll offer you something too good to be true, and it won't be true"

@sirtra 3 ай бұрын

... but you'll *wish* it was. Boom tish 🙃

@TracksWithDax 3 ай бұрын

😂🤣

@giovannip8600 3 ай бұрын

XDD

@Eli.83 3 ай бұрын

It's simple actually when people buy something online they expect it to arrive.

@LogicallyAnswered 3 ай бұрын

Hahaha

@kamX-rz4uy 3 ай бұрын

Or at least arrive sometime in the next month.

@lizzylizzy9526 3 ай бұрын

Wish would take like 2 to 3 months.

@Edgedable 3 ай бұрын

I think the simple answer is they got Temued

@LogicallyAnswered 3 ай бұрын

Eh, they weren’t doing too well even before Temu entered the scene

@RunescapePro 3 ай бұрын

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 😅

@trying3841 3 ай бұрын

Came to say they rebranded to Temu lol

@LaurentiusTriarius 3 ай бұрын

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 😂

@Michael_Brock 3 ай бұрын

Temu will get their exactly same result in a few years.

@euroxcentric8778 3 ай бұрын

Temu probably bought all the items on wish and just rebranded

@Alphii_ 3 ай бұрын

yep

@LogicallyAnswered 3 ай бұрын

Hahaha, no need, they can just go straight the the suppliers and undercut Wish

@DJ_POOP_IT_OUT_FEAT_LIL_WiiWii 3 ай бұрын

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.

@katrinabryce 3 ай бұрын

Temu's stuff is actually OK [for the price charged]. Wish has a reputation for being an outright scam.

@penitent2401 3 ай бұрын

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.

@princem5155 3 ай бұрын

Wish lived by the discount and died by the discount

@codycast 3 ай бұрын

I “wish” all these Chinese junk shops would go out of business. Including the no-name Chinese junk brands that are flooding Amazon.

@umbrellastudio7481 3 ай бұрын

does Amazon has it's own factory? does Amazon produce anything? No! without none brand Chinese junk goods, Amazon is a empty shop.

@cpK054L 3 ай бұрын

@umbrellastudio7481 okay Chang, there was a time when theybsold exclusively murrican

@umbrellastudio7481 3 ай бұрын

@@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?

@thelegendaryck 3 ай бұрын

@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 😂

@hh0686 3 ай бұрын

@@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.

@dopemusic6414 3 ай бұрын

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.

@Alphii_ 3 ай бұрын

And AliExpress

@LogicallyAnswered 3 ай бұрын

Hahaha facts

@viktorakhmedov3442 3 ай бұрын

You ever watch "Tyler Tube"? He's known as the "Walmart" version of "Project Farm" but he still does pretty good!

@jochenkraus7016 3 ай бұрын

So Wish is Wish ordered on Wish?

@Aleks96Clips 3 ай бұрын

isnt walmart a symbol of inferiority? they r doing fine?

@althunder4269 3 ай бұрын

TEN billion declined? Oh man I'd have taken the money and run.

@LogicallyAnswered 3 ай бұрын

Hahaha, but with that mindset, you’d prob not have gotten the $10 billion offer in the first place

@Bloomkyaaa 3 ай бұрын

Yeah these idiots really dropped the ball. If you're offered billions for your trash can idea you came up, you take it. 🤣

@roderickmacdonald7487 2 ай бұрын

@@LogicallyAnswered Your name checks out.

@NoSaysJo 2 ай бұрын

@@roderickmacdonald7487hush down child.

@jadenpokemon8952 2 ай бұрын

Holy shit I thought he said million

@sewerrat 3 ай бұрын

Temu buys it directly from the kids in China.

@LogicallyAnswered 3 ай бұрын

😳

@hitmusicworldwide 3 ай бұрын

Temu is a platform. Not a wholeseller.

@admiralkaede 3 ай бұрын

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

@admiralkaede 3 ай бұрын

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

@rickyay26 3 ай бұрын

Source: out the ass

@lVlegabyte 3 ай бұрын

$10 billion isn’t cool, you know what’s cool? $173 million 😎

@BillAnt 3 ай бұрын

Should have sold it at 10 Billion back then, and now would be chilling an their own private islands somewhere. lol

@edwardblake8575 3 ай бұрын

@@BillAntYou can live a fairly chill live with 173 million too

@BillAnt 3 ай бұрын

@@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.

@max5183 3 ай бұрын

173 > 10 No brainer if you're above 3rd grade..

@BillAnt 3 ай бұрын

@@max5183- lol

@SlamdalfTheGrey 3 ай бұрын

0:14 just wanna point out that "candy" is flavored rolling papers 😂

@teuphil12 3 ай бұрын

and now i hope that in one year we never hear from Temu again. 🙏

@IceWolf1102 2 ай бұрын

go away..

@NoSaysJo 2 ай бұрын

@@IceWolf1102hush down kid.

@dovilemaciulyte1099 2 ай бұрын

@@IceWolf1102 yeah, temu should go away

@hh0686 3 ай бұрын

Moral of the story, don’t overspend on marketing. Play the long game and preserve cash.

@500ccRabbit 3 ай бұрын

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

@littledudefromacrossthestr5755 3 ай бұрын

What is bro yapping about 💀

@IceBlueLugia 3 ай бұрын

wtf are you even talking about bro, none of this ever happened lol

@Firevine 3 ай бұрын

Wait what? I missed out on this?

@OKayD3N 3 ай бұрын

Noone would stop using it cuz of that

@charliekirkham9053 3 ай бұрын

Real, just search about it. ATF was making arrests based on these orders

@deathwizard1996 3 ай бұрын

I bet they *wished* to be sold earlier and delivered to Amazon instead

@LogicallyAnswered 3 ай бұрын

Hahaha, too late for that now

@007Traez 3 ай бұрын

Amazon probably would've just deleted wish to implement it into amazon 😂

@Chesternut007 3 ай бұрын

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.

@PaulSchaffert 3 ай бұрын

I learned this with DealExtreme back in the 2000s

@bAc0nBoY755 Ай бұрын

I just found this channel and I'm addicted. The presentation is so captivating and each video is packed with info

@concernednewfie 3 ай бұрын

There is a reason there are KZfaqrs that make a career just reviewing the junk sold on Wish.

@MrOliveree 2 ай бұрын

Ironic that the ad in the middle of this video was for Temu

@0389BA 3 ай бұрын

The only time I heard about temu was on KZfaq ironically..

@katrinabryce 3 ай бұрын

Mostly because they have put a lot of money into KZfaq influencer advertising.

@ljpwr3368 2 ай бұрын

I assumed they rebranded to temu

@mikemcmike6427 3 ай бұрын

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.

@Wumbo_the_Mumbo 3 ай бұрын

At least then you would've been warm

@mikemcmike6427 2 ай бұрын

@@Wumbo_the_Mumbo they were supposed to be summer tank tops :p dragonball z ones.

@jeromemason5436 3 ай бұрын

I bought an aux cord for a buck from them, and it took about 3 months to get it

@LogicallyAnswered 3 ай бұрын

Oof hahaha

@admiralkaede 3 ай бұрын

yea its bad temu kinda just does everything wish did better its cheap stuff comes fast maybe not amazon fast but reasonable

@SL4RK 3 ай бұрын

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.

@admiralkaede 3 ай бұрын

@@SL4RK thats rough i have never used aliexpress so I cant tell u if its good or not

@SL4RK 3 ай бұрын

@@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.

@desertstar223 3 ай бұрын

Temu is gonna go the same way. Selling garbage is not a viabe strategy.

@wisico640 2 ай бұрын

Plus they gaslighted prices and quality and its downhill from here

@stylesrj 3 ай бұрын

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?

@ricks5756 3 ай бұрын

No mention of Aliexpress ... at all !

@itsLIZARD89 3 ай бұрын

This whole time I thought WISH was a Chinese company like TEMU

@user-pi2lq 3 ай бұрын

Same here

@BlaBlab-so6sy Ай бұрын

Very good and thorough video. Thank you very much

@decommonifyable 3 ай бұрын

I got a Temu ad after this video 😂

@metatechnocrat 3 ай бұрын

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.

@andrewstocks227 3 ай бұрын

Anyone else have a temu ad on this vid

@angelsonic999 2 ай бұрын

I remember buying something off them and not ever getting it

@doctorgibberish 3 ай бұрын

They took that 99% off mentality to heart

@LogicallyAnswered 3 ай бұрын

Indeed hahaha

@vam4794 3 ай бұрын

This is a successful venture man in terms of spreading money from rich to poor or atleast more people

@SysiPaska 3 ай бұрын

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♥️

@totallythandi2555 3 ай бұрын

Marketing can’t undo terrible experiences

@JackOpulski 3 ай бұрын

Temu does everything better than Wish including sending out toxic products

@azuredragonofnether5433 3 ай бұрын

Thankfully, I already don't remember this.

@bAc0nBoY755 Ай бұрын

0:13 the picture he used for "candy" lmaoo

@danielvasquez3758 3 ай бұрын

Great video brother!! Thanks!!

@LogicallyAnswered 3 ай бұрын

Thanks as always Daniel!

@pxvplay Ай бұрын

I love this key factor. Wish users are loyal to the price, not to the retailer.

@critically.panned 3 ай бұрын

Wish was great in theory, but not once did I receive something that even looked like what I purchased.

@MrMadvillan 3 ай бұрын

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 🤔

@corbonthec0b 3 ай бұрын

Temu?

@YPM-fx4yj 3 ай бұрын

'candies' shows rolling paper 0:15

@Helladamnleet 2 ай бұрын

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

@dimagass7801 3 ай бұрын

I ordered those orbeez things and just said it didn't arrive and got a full refund 💀

@chefmastermikecmm8465 3 ай бұрын

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. 😂

@LogicallyAnswered 3 ай бұрын

Shame on you! You should sell so that everybody else can make money :)

@chefmastermikecmm8465 3 ай бұрын

@@LogicallyAnswered I will soon. You will know when it has a 100% gain day.

@fajaradi1223 3 ай бұрын

I hope you're telling the truth

@chefmastermikecmm8465 3 ай бұрын

@@fajaradi1223 I am.

@KageNoTenshi 3 ай бұрын

Hey a fellow student from Loo haha

@ronlevon4294 3 ай бұрын

can u do a video on banggood ?

@snooganslestat2030 3 ай бұрын

Sounds like an escort review site! 😂

@mordechaisanders7033 2 ай бұрын

I just assumed they rebranded as temu

@skylineXpert 3 ай бұрын

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...

@bakrifustok2976 3 ай бұрын

Zack Morris aka Constantin Cuckmeister pumped this stock back in 2021

@fischX 3 ай бұрын

It was basically Amazon, but ordered on wish...

@JRChuxx 3 ай бұрын

I remembered ordering cheap sh!t that would break ASAP or barely worked 😂

@ronque23 3 ай бұрын

Should’ve sold out to Amazon. Could’ve bought 10 more wishes.

@Dyna1One Ай бұрын

Wish: Sells Chinese junk Americans: I don't need more Chinese junk Temu: but what about a 70% discount?

@DijaVlogsGames 3 ай бұрын

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.

@jonightwing901 3 ай бұрын

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.

@joegracie691 2 ай бұрын

Why did you deliver an item I bought to an address 5 hrs away and kept my money. And refuse to answer my question.

@dennisalbert6115 3 ай бұрын

They should have invested in american manufacturing and 3d printing with the early profits

@killtrocity6857 3 ай бұрын

Wend he said 2020 you heard the curry😅😅

@hoteny 2 ай бұрын

They were about to send me a laser pointer that is probably very unsafe for absolutely free but i didnt wanna give my address

@mannyathabang1315 3 ай бұрын

Farewell to Wish, it will never a comeback not when Temu is around.

@Danielistheway1 Ай бұрын

WHAT UP WITH THE ADs BRO?!!!

@kaystephan2610 3 ай бұрын

Wait what? Wish was popular all the way in 2016? I never even heard of Wish until the 2020s. Tf?

@danielvasquez3758 3 ай бұрын

They got competitors honestly!!!

@LogicallyAnswered 3 ай бұрын

Well, that’s never bad for consumers

@BillAnt 3 ай бұрын

If you sell crap, you become crap... simple as that.

@Paddylol 3 ай бұрын

So nice… they’re even selling their stocks for 99% off❤

@myra0224 3 ай бұрын

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.

@KDazee 3 ай бұрын

10 billion !!!!!!!!!!!!!!!??????

@1bridge11 3 ай бұрын

How much did you pay Ben Hedges to promote Silo?

@LogicallyAnswered 3 ай бұрын

Hahaha, NDA man

@haxresearch701 3 ай бұрын

Its called temu now

@PerfectLynk 3 ай бұрын

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.

@humanoidcorn4476 2 ай бұрын

Even in the name, it just gives you a obvious clue!

@marielinne7058 2 ай бұрын

im shocked, most of my clothes came from wish and were extremely good quality.

@choqao 3 ай бұрын

early as you know , logically answered hehe

@LogicallyAnswered 3 ай бұрын

Thanks for being early Choqao!

@Saliferous 3 ай бұрын

I still have an inkling that it's money laundering.

@Perqd 3 ай бұрын

Wish sellers moved to amazon

@liamcollinson5695 3 ай бұрын

I often joke that temu is just wish in a more fancy coat

@thelegendaryck 3 ай бұрын

Wish with far more personal data harvesting

@gimpinainteasy 3 ай бұрын

won't be selling much soon..

@streamdungeon5166 3 ай бұрын

Wish sold Trash. The end.

@MATTY110981 3 ай бұрын

They became known as a punchline.

@mustangnawt1 Ай бұрын

Correction, Amazon Used to have industry leading customer service. Idk how many are in the know yet, but worst customer service eveeeeer is now SOP

@Paolo040 3 ай бұрын

TL;DR: covid ad costs spike, competition and zero customer loyalty

@eskimochild87 3 ай бұрын

I love shopping on Wish.

@Pointy_Bird 2 ай бұрын

I thought the -99% on the thumbnail was a discount 💀

@seraphin01 3 ай бұрын

temu will follow the same path with such an unsustainable operation.. good riddance to both

@theghostofsabertache9049 3 ай бұрын

If zuckerborg offered to buy my business too would reject it out of principle.

@FlorinArjocu 3 ай бұрын

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.

@maxwright6053 3 ай бұрын

Time to short TEMU stock

@moafwaz5563 3 ай бұрын

that wasn't candy bro, that was rolling paper for joints.

@emilolinsson7980 3 ай бұрын

Lol that's not candy on wish that's rolling papers

@rplayer360 Ай бұрын

Didn't it just turn to temu

@satansblargh 3 ай бұрын

Bro those are hemp rolling papers not sweets 😂😂😂 literally 30 seconds in

@dannylo5875 3 ай бұрын

It's legit a ponzi scam...the guy running the company he really had not idea what to do!?

@DIGITAL27 3 ай бұрын

My Grandma still use wish 😂

@Firevine 3 ай бұрын

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.

@harm991 3 ай бұрын

My regards