Wish’s financial report released: Monthly active users exceed 100 million, number of sellers grows 435% year-on-year

In 2020, Wish's e-commerce journey has attracted much attention. From the parent company's application for approval, the valuation of tens of billions of dollars, the price per share, to the stock price falling by more than 16% on the first day of listing, every bit of it reveals the rapid development of this platform.

Wish logistics revenue increased 275% year-on-year

Recently, Wish released its record-breaking 2020 financial report. Two noteworthy data are: Wish's monthly active users in 2020 increased by 19% year-on-year to more than 107 million ; the core market (revenue collected by charging commissions on each transaction) revenue increased by 66% year-on-year throughout the year .

The growth of Wish 's core market revenue follows the growth of GMV , which just reflects the rapid growth of online sales on the Wish platform. However, in the wave of rapid development of e-commerce in 2020, newcomers emerge in endlessly. Compared with a number of e-commerce platforms , Wish's performance is not impressive.

From the above report, we can see that Wish's total revenue only increased by 34% year-on-year in 2020 , but its logistics revenue was exceptionally strong. Data shows that Wish's logistics revenue in 2020 increased by 275% compared with its logistics revenue in 2019.

Due to the epidemic, the demand for logistics services in the US market is particularly strong, and Wish has taken advantage of its logistics platform to launch the Wish Local project, invest in its distribution network FBW, and adjust the price of its self-delivered logistics many times. It has to be said that Wish's self-delivered logistics has added icing on the cake to its revenue.

Revenue in the first quarter of 2021 increased by nearly 70% year-on-year

It is worth noting that Chinese sellers once accounted for as high as 94% of the Wish platform, but in 2020 , its US sellers increased by 435% year-on-year . This may be related to Wish's active recruitment of sellers outside of China and reducing its dependence on Chinese sellers.

In fact, many brands, including Japanese sports brand Mizuno, American flash sale website Rue La La, and the number one operator in the United States, TracFone Wireless, have announced their entry into Wish. This also shows that Wish is constantly absorbing new brands to meet the growing needs of consumers. In the future, Wish sellers must continue to improve their competitiveness in order to occupy more market share.

From Wish's financial report, we can see that in the first quarter of 2021, its revenue increased by nearly 70% year-on-year. From this point of view, Wish's successful IPO in December 2020 has brought it better development opportunities. In addition, Wish also stated in its financial report that it will further optimize logistics infrastructure, expand the platform's operating categories, open up the platform's business coverage , and improve users' online shopping experience.

However, opportunities and challenges coexist. Wish's stock price fell by more than 16% on the first day of its successful listing . In addition, with the emergence of new e-commerce platforms , Wish needs to continue to improve itself and enhance the competitive advantage of the platform. Its specific development status in the future remains to be verified.

Wish

Financial Report

user