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Wish is an online ecommerce marketplace where you can buy and sell just about anything. It allows shoppers to buy from their desktop browser or the app on Android and iOS. Sellers can connect with more than 300 million shoppers in over 80 countries.
If you’d like to start selling on Wish in the UK, keep reading to find out more about setting up a store, Wish’s fee structure and how to ship items to customers.
If you’ve got any type of physical item you want to sell, there’s a pretty good chance you’ll be able to list it on Wish. From fashion and accessories to home decor, automotive, gadgets, tools, jewellery and more, there are endless categories to choose from.
As a general rule, you’re not allowed to sell services on Wish. However, custom orders, for example custom artworks, are permitted.
There are also several items that are prohibited from sale, like:
There are two main approaches when finding products to sell online:
Market research will help you work out which products are always popular, which are trending right now and where there are any gaps in the market you might be able to fill. As Wish boasts shoppers in more than 80 countries, you’ll also need to consider overseas shipping costs from the UK when choosing products.
You’ll then have to decide whether you’ll source, store and ship products yourself – in which case you’ll have to start comparing suppliers – or whether you’ll use a dropshipping service to take care of warehousing and shipping orders for you.
Wish does not charge any:
However, when you make a sale, Wish charges a commission of up to 15% on the total order cost – it calls this fee a “revenue share”. You can check the revenue share that applies to your sales by visiting the “General Information” section of your account settings menu.
In addition, as of 1 October 2018, new stores that join the platform must pay a US$2,000 registration fee. According to Wish’s FAQ page about the fee, this new charge was introduced to ensure that merchants who sign up to the platform are capable of delivering the best products and services to their customers. However, merchants that “can prove their credibility” may be exempt from this fee.
You can request a refund of this store registration fee when you choose to close your account, but Wish can decline to return the fee at its discretion.
Let’s ignore the store registration fee for a moment and look at how Wish’s sales commission will impact your bottom line. For example:
While it’s possible to make a profit selling on Wish, nothing is certain. Just like any other type of business, selling online comes with a number of risks attached, so there’s no guarantee that you’ll be able to make money selling on Wish.
That said, there are a few things you can do to increase your chances of success:
If you’d like to start selling on Wish, you’ll need to sign up for an account by completing the following steps.
There are a few factors you’ll need to consider when pricing your items:
By answering these three questions, you should be able to work out an ideal price point for whatever you’re selling.
Wish buyers can pay for their purchases via the following providers:
As an online seller based in the UK, you can receive payments from Wish via two options:
Regardless of whether you choose PayPal or Payoneer as your payment provider, when you receive payment in a foreign currency, you’ll need to find a cost-effective way to convert those funds into GBP. Unfortunately, Payoneer adds a margin of up to 2% on the mid-market exchange rate, while PayPal converts your money at 2.5% above its base exchange rate.
This can have a significant impact on your bottom line, so you may want to consider opening a specialist online seller account. This is a multi-currency account that allows you to receive payments in multiple foreign currencies and then offers competitive exchange rates when you want to convert into GBP.
Check out the table below for details of the fees and features of a range of online seller accounts.
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
There are a few options to choose from when shipping Wish orders:
You can access a list of accepted shipping providers from your Wish account menu.
There are a few different ways you can market products on Wish:
There are a few disadvantages to selling on Wish:
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