The inventory and delivery section includes product sales price, product inventory, product shipping, and estimated delivery time.
1. Product Sales Price (Price)
The product sales price refers to the sales price of the product sold to customers on the Wish platform, including the product cost, profit, and the 15% commission charged by the Wish platform. The common structure is as follows:
Product Sales Price = Product Purchase Cost + Profit + Wish Platform 15% Commission + Collection Fee
In actual application, the product sales price will also involve multiple cost details. Merchants can adjust according to their actual needs. The following is an example of a relatively simple calculation formula.
Product Sales Price (US Dollars) = Product Purchase Cost (Yuan) + Current US Dollar Exchange Rate + (100% – Profit Margin – Wish Commission Rate – Collection Fee Rate)
Three different types of products have different profit margins, different exchange rates in different time periods, and different sales prices are calculated.
The sales price calculation process of these three products is as follows:
Product A: Popular jewelry ring, the average purchase cost is 3.6 yuan/piece, the current US dollar exchange rate is 6.95, the profit margin is 10%, the Wish commission rate is 15%, and the collection fee rate is 1%.
Product A sales price = 3.6 yuan
÷6.95÷(100%-10%-15%-1%)=0.7 US dollars=1 US dollar
Since the sales prices on the Wish platform are all integers, the sales price of this product is 1 US dollar.
Product B: Summer women’s vest, the average purchase cost is 9.3 yuan/piece, the current US dollar exchange rate is 6.98, the profit margin is 16%, the Wish commission rate is 15%, and the collection fee rate is 1%.
Product B sales price = 9.3 yuan ÷ 6.98 ÷ (100%-16%-15%-1%) = 1.96 US dollars = 2 US dollars
Product C: Summer women’s high heels, purchase cost 78 yuan/pair, the current US dollar exchange rate is 6.90, profit margin 15%, Wish commission rate 15%, collection fee rate 1%.
Product C sales price = 78 yuan ÷ 6.90 ÷ (100%-15%-15%-1%) = 16.38 US dollars = 17 US dollars
Note:
?Wish platform deducts 15% commission from the sales of each order.
?Product sales prices are calculated in integers, and the minimum default is 1 US dollar.
?Wish backend defaults to the US dollar as the standard price. You can fill in the sales price expressed in US dollars, and you do not need to fill in the sales price expressed in other currencies.
?When products are sold in different countries, the product sales price will be automatically converted into the supported currency price.
?It is normal for the US dollar exchange rate to fluctuate slightly, and there is no need to adjust the product sales price frequently.
?The lower the product sales price, the more cost values need to be accurately calculated.
?For overseas warehouse products, it is necessary to allocate the relevant expenses of the overseas warehouse to the product procurement cost for calculation.
?The product sales prices of different overseas warehouses are generally different and need to be calculated independently.
?The refund rate is generally not included in the product sales price as a cost calculation item.
Currently, Wish has the right to automatically adjust prices (increase or decrease prices) for high-quality products, and the sales turnover generated is still settled to the merchant according to the product sales price set by the merchant. That is: the sales amount increased by Wish’s price increase will not be given to the merchant, but will be obtained by the Wish platform; the sales amount reduced by Wish’s price reduction will not be deducted from the merchant, but will be borne by the Wish platform.
Wish automatically adjusts the price of high-quality products, which will affect the conversion rate of the product, resulting in an increase or decrease in the order volume of the product. If the order volume of the product does not change or continues to decrease, Wish will automatically restore the original price after a certain period of time.
2. Inventory (Quantity)
Inventory refers to the inventory quantity of the product. The maximum inventory value is 500,000. The inventory exceeding this value will be automatically reduced.
For example:
Acceptable: 1200
Acceptable: 0
Acceptable: 4
Unacceptable: In stock
Unacceptable: Out of Stock
Notes:
?Currently Wish policy stipulates that products with sales exceeding US$500 within 9 days of being removed from the shelves will be fined US$50.
?When the inventory is 0, the product cannot be purchased, but the product will not be automatically removed from the shelves (disabled). Merchants can decide whether to increase inventory based on their actual situation.
?Don’t fill in too much inventory blindly. For example, if there is no actual inventory or the actual inventory is only 10, don’t fill in 10,000. Generally speaking, for products with low sales prices (1 to 20 US dollars), the inventory can be filled in with hundreds or thousands; for products with high sales prices (more than 20 US dollars), the inventory can be filled in with dozens or hundreds.
?It is recommended to fill in the inventory of overseas warehouse products accurately, otherwise some customers may refund due to sudden large-scale shortages, which may affect the sales rights of overseas warehouse products. There is a time cycle for replenishing overseas warehouse products. Generally, after replenishing the warehouse, the inventory of products being sold will be increased.
?The inventory can only be filled in with integers, and additional text information such as inventory units cannot be filled in. If the products sold have different units (such as sets/dozens/pairs/packs/boxes/bags), it needs to be clearly marked in the previous “Description”.
3. Shipping
The shipping fee refers to the delivery fee incurred by the product package from the origin through the logistics service provider channel and delivered to the destination or to the destination customer. The key factors in calculating freight include product type, product package weight and logistics channel. Other factors have more cost calculation items. For details, please refer to the previous “International Logistics” section. The following is a commonly used freight calculation formula:
Product freight (US dollars) = logistics cost (yuan) ÷ current US dollar exchange rate + (100% – profit margin – Wish commission rate – payment handling fee rate)
Taking the United States as the destination country as an example, three different types of products have different weights after packaging, use different logistics channels, and calculate different freight rates based on the exchange rate at the time.
The freight calculation process for these three products is as follows:
Product A freight = 4.675 yuan ÷ 6.95 ÷ (100%-10%-15%-1%) = 0.91 US dollars ≈ 1 US dollar
Product B freight = 22.0275 yuan ÷ 6.98 ÷ (100%-16%-15%-1%) = 4.64 US dollars ≈ 5 US dollars
Product C freight = 55.8 yuan ÷ 6.90 ÷ (100%-15%-15%-1%) = 11.72 US dollars ≈ 12 US dollars
Wish charges a 15% commission for both product sales price and freight. In order to balance product sales price and freight, the profit margin of the product is often included in the freight during the calculation process. Merchants can calculate the product profit margin according to their actual needs. For example, if the profit margin of the product does not participate in the calculation of freight, just write the profit in the calculation formula as 0.
Notes:
?The freight is also calculated in integers, and the default minimum is 1 USD. For example, if you write the freight as 0.4 USD, Wish will still charge the customer 1 USD for the freight according to the minimum integer of 1 USD, but Wish and the merchant will settle at 0.4 USD, and the extra 0.6 USD will be obtained by Wish.
?It is normal for the freight calculation to have a ±5% floating difference from the final freight collected. The final amount of freight collected is based on the amount collected by the logistics service provider. If the final freight difference is too large, it is necessary to verify whether there is any omission, over-shipment, or other tariffs, remote area surcharges, etc.
?If it is an overseas warehouse product, it is necessary to calculate the freight independently according to the logistics costs of the country where the overseas warehouse is located.
?The logistics cost (RMB) can be quickly obtained through the “Freight Trial Calculation” function of the third-party ERP system or the logistics system of the logistics service provider. The specific operation will be slightly different due to different ERP systems or logistics systems.
Wish supports charging different shipping fees for the same product in different countries. The shipping fee calculation method for different countries is the same as the previous shipping fee calculation.
It is worth noting that the shipping fee of the current product is only the basic standard shipping fee of the product, which is applicable to all countries where sales are allowed by default. If you want to set different shipping costs for products, you don’t fill it in here. Instead, you can set international shipping costs for the product after the product is uploaded and published. The menu path is: “Product” → “Update Existing Products” → “Manual” → Select the product to be edited” → “Edit International Shipping Costs”.
It is common for shipping costs to exceed the product sales price. In order to balance the product sales price and shipping costs, the actual product sales price and shipping costs are often adjusted. The adjusted total price remains unchanged, but the product sales price and shipping costs will change.
In actual use, the Excel calculation formula can be used to quickly calculate the product sales price and shipping costs.
Note:
The above calculation of product sales price and shipping costs is for reference only. Merchants can adjust according to their actual needs.
In addition to using Excel calculation formulas, it is easier to manage to use a professional ERP system to calculate product sales price and shipping costs.
4. Shipping Time Time)
Delivery time refers to the estimated time from the time the customer places an order to the time the customer receives the delivery package of the order. Since this time is an estimated time, merchants can check it relatively loosely. If the preset time range does not suit their own situation, they can fill in other estimated times.
Notes:
?Don’t blindly write a large time range for delivery time, such as 5 to 60 days, otherwise it will affect customer purchases and reduce conversion rates.
?The delivery time of overseas warehouse products needs to be filled in according to the Wish Express policy.
?Wish will automatically optimize the delivery time. The delivery time is not an absolutely unchanging estimated time range. Wish will automatically calculate the average of the actual delivery time of all orders after the product generates an order, and use the average to replace the delivery time of the product.
Although the delivery time here is an estimated time range, the actual delivery time of the order is subject to Wish policy constraints. If the actual delivery time of the merchant’s order exceeds the prescribed time standard of the country, the order will be refunded and the merchant will bear 100% of the refund fee. This Wish regulation is very important and it is recommended to be detailed. For a careful reading and deep understanding, please refer to the content of the previous “Wish Policy” section. For details, please see the menu “Help” → “Wish Policy” → “7. Refund Responsibility” → “7.5” → “Learn the X corresponding to major countries/regions” in the upper right corner of the Wish backend.
Some newly added sales countries have not been added to the Wish policy in a timely manner, but this does not affect the actual delivery time standards. The specific standards are subject to the actual standards of Wish.
The maximum delivery time standards for each country are different, and therefore the refund situations are also different.
After merchants fill in the delivery time when publishing a product, in the subsequent Wish operations, they need to pay attention to and follow up on the actual delivery situation of the logistics channels corresponding to the product order.
Combined with the above product sales price, shipping costs, inventory, and delivery time.