Wish Seeks Escalation of Fast-Fashion Wars Amid Q4 Pummeling

Wish app

Wish app

Fast-fashion eCommerce marketplaces including Wish, Shein and relative newcomer Temu are reeling as inflation presses down and consumer buying behavior shifts, creating a drag on the sector and leading to revisions in critical operational elements to reignite momentum.

This was clear on the Wish fourth-quarter 2022 earnings call Thurs. (Feb. 23) as CEO Joe Yan noted, “Our value-oriented consumers were impacted by the steep increase in energy and food prices, which translated to a slowing of discretionary spending across the regions,” adding that “we are not immune to the changes in consumer spending habits, particularly among the lower income households that shop on our marketplace.”

With Q4 2022 revenues down 57% compared to Q4 2021, Wish responded by launching a new Deals Hub platform enabling merchants to showcase discounts and drive product exposure across the Wish platform, and a ‘Bargains Made Fun, Discovery Made Easy” rebrand to

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