Wish is a cross-border e-commerce platform that provides an online marketplace where sellers can sell a variety of goods to global buyers. Wish works with sellers from different countries and regions to provide lower-priced goods to global users. Users can browse and purchase a variety of products through the Wish app or website, including fashion clothing, household items, electronic devices, and toys. Wish is popular worldwide and provides international delivery services to meet the needs of different countries. Therefore, more and more sellers choose to open stores on the Wish platform. If you want to open a store on the Wish platform, you must first have a certain understanding of the Wish platform. Today we will talk about what is the Wish platform price difference policy?
The price difference policy of Wish products means that sellers on the Wish platform are not allowed to sell products of the same category at excessively high price differences. This policy aims to prevent merchants from seeking improper benefits and ensure that users have a good experience during the shopping process. By limiting price differences, the Wish platform strives to maintain fair competition and consumer rights.
The Wish platform price difference policy mainly includes the following points:
1. The same product details page cannot contain irrelevant products with too large differences.
2. There cannot be obvious differences in product descriptions.
3. It is not allowed to use a single product title to describe all products.
4. Products cannot be sold as accessories of the original product.
5. There cannot be unreasonable product combinations.
6. The consequences of violating the price difference policy may include measures such as removing products and temporarily suspending transactions.
To avoid violating the policy, it is recommended to consider the following pricing strategies:
1. Clearly understand the fees of the Wish platform, such as commissions, handling fees, return fees, etc.
2. Set the minimum selling price based on the cost of the product and the incoming shipping fee.
3. Compare the pricing on other similar platforms.
4. Ensure that the net profit after pricing is above 20%.
5. When the initial traffic is low, the price can be appropriately lowered to promote transaction volume.
When pricing products, sellers need to consider the following fees and factors:
1. Platform commission.
Understand the commission ratio of the platform, such as Wish charges a 15% commission.
2. Cross-border payment fees.
If you use cross-border payment methods, you need to consider the possible fees.
3. Return costs.
Consider the costs of returns, including refunds and re-shipping fees.
4. Competitor pricing.
Compare with competing merchants on the same platform for the same product.
Sellers can set prices according to the following formula to achieve their profit goals: Minimum selling price of the product = (product cost + purchase freight shared) / (profit margin between 1 – 16% and 26%)
When first opening a store on Wish, sellers may face challenges such as low traffic, low exposure, lack of fans and competitiveness. In order to increase product transaction volume and exposure, merchants can appropriately reduce profits and prices. In short, complying with the Wish platform’s price difference policy and setting prices reasonably can help store owners achieve good results on the Wish platform.