Contextlogic Inc (WISH)

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Amazon is shorting Wish, trying to keep it from becoming a competitor

“9:00a ET 2/1/2023 - Globe Newswire
Wish Introduces Flat Rate Shipping to Customers in the U.S.

$2.99 flat rate fee to be applied to all eligible orders over $10, at no additional cost to merchantsGlobeNewswireFebruary 01, 2023
SAN FRANCISCO, Feb. 01, 2023 (GLOBE NEWSWIRE) -- ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world's largest mobile ecommerce platforms, today announced the phased rollout of a new $2.99 flat rate shipping fee that will be applied to all 'flat rate eligible' orders over $101. Flat rate shipping is launching to app users in the U.S. this month, and will be rolled out in phases to Wish's other key markets by the end of March.


The move is part of a broader effort to improve the shipping experience on Wish which has, in the past 6 months alone, seen a dramatic improvement in on-time delivery rates (94%) and a significant reduction in time to door (15 days in key markets)2.

"Shipping costs have been a major pain point for our users for some time, so we're delighted to have found a flat rate shipping solution that not only offers our customers great value, but also carries no additional cost to our merchants," said Mauricio Monico, Chief Merchant Officer, Product at Wish. "Today, around 85% of our product listings are eligible for flat rate shipping, but our goal is to include all of our product listings in the program over the coming months by the end of the year."

Flat rate shipping does not apply to Wish's 'ship to store' or 'express shipping' service. It is also currently only available via the Wish app on iOS and Android. Web and mobile-web will follow in the coming months.

To learn more about Wish, visit www.wish.com.

About Wish

Wish (ContextLogic Inc. (d/b/a Wish)) brings an affordable and entertaining shopping experience to millions of consumers around the world. Since our founding in San Francisco in 2010, we have become one of the largest global ecommerce platforms, connecting millions of value-conscious consumers to hundreds of thousands of merchants globally. Wish combines technology and data science capabilities and an innovative discovery-based mobile shopping experience to create a highly-visual, entertaining, and personalized shopping experience for its users. For more information about the company or to download the Wish mobile app, visit www.wish.com or follow @Wish on Facebook, Instagram and TikTok or @WishShopping on Twitter and YouTube.

*Ship-to-store feature is available in select markets

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1 Products eligible for flat rate shipping are those that are shipped from merchants in China who use our A+ logistics network. All non-eligible items will continue to incur their own, separate shipping fees.

2 ContextLogic Inc. - Investor Presentation, Q3 2022
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