How to sell more and boost your revenues on Wish
The Payoneer guide to selling on Wish
Looking for a shopping app that offers great deals on everything from fashion to electronics? Look no further than Wish!
According to the latest stats from April 2023 on SimilarWeb, Wish is ranked #40 on the list of top free shopping apps in the US, and according to MobileAction, it’s ranked #48 on the list of top shopping apps on Android in the US.
On the App Store in the US, Wish is ranked #119 in Shopping, with a 4.7-star rating based on 2.3 million ratings. And on Google Play Store, Wish has been downloaded over 500 million times and has a 4.7-star rating based on 14.4 million reviews.
This comprehensive review of Wish comes from an in-depth analysis of the app’s features and functions, as well as its popularity and rankings in the US and beyond.
One thing that makes Wish so special is that it connects online shoppers with merchants who offer huge discounts on a wide range of products. And with user-friendly features and functions, it’s no wonder that Wish has quickly become a significant player in the e-commerce world.
Founded in San Francisco, CA, in 2010, Wish has rapidly expanded into a leading online marketplace with an extensive global footprint and billions of dollars in annual sales.
Wish’s dominance in e-commerce is demonstrated by its top rankings in online retail sales across several countries. In addition, the increasing popularity of desktop and mobile shopping has bolstered this competitive advantage over traditional retailers.
Fast facts about Wish.com popularity
- Wish drew over 100 million users per month in the past.
- Wish generated $570 million in revenue in 2022, a decline of 73% YoY, and had a net loss of $384 million.
- Wish has over 170,000 merchants selling on the platform.
- The majority of the 300 million items available in the Wish store are from China.
- Wish has been accused of poor quality and counterfeit goods in the past.
- Wish has deployed some quality control systems, but they are less comprehensive than Amazon or eBay’s systems.
- Wish offers deals, freebies, and coupons to users.
- Amazon’s delivery platform is more sophisticated than Wish’s
- The Wish app is designed for scrolling, like a social network, rather than searching for specific items.
- Wish has not yet reached CEO Piotr Szulczewski’s ambition to become the “second or third trillion dollar-a-year marketplace.”
- Wish may move in a similar direction to Pinduoduo in terms of features, such as team purchase, which allows multiple people to buy an item and receive it for cheap.
Source: Business of Apps Wish Statistics
And with its easy-to-use platform and competitive advantage over traditional retailers, it’s no surprise that more and more sellers are flocking to Wish to reach new customers and boost their sales. So, whether you’re looking for the latest fashion trends or the hottest tech gadgets, Wish has everything you need to shop and save like a pro. Try it out today and see why it’s one of the top shopping apps in the US and beyond!
The Personalized Touch: How Selling on Wish is Changing the Game
When it comes to online shopping, the old adage “one size fits all” no longer holds water. Shoppers crave a personalized experience tailored to their unique tastes and preferences. Enter Wish, the e-commerce platform that’s turning the industry on its head with its revolutionary approach to personalization.
With deep data mining and machine learning technology, Wish customizes its app for each and every shopper, creating a truly one-of-a-kind shopping experience. By displaying just a few products at a time, Wish benefits both buyers and sellers alike.
No more searching through pages of results to find what you’re looking for. Wish has made discovering products a breeze, with scrolling personalized to help you quickly locate the perfect item. And for eSellers, marketing their products has never been easier. They can sell internationally without having to customize their messages to each country, thanks to Wish’s data-powered personalization infrastructure.
Gone are the days of text-heavy product listings and search engine optimization. Wish’s visual shopping experience ensures that product listings are optimized simply by being visually engaging. This approach gives merchants a distinct advantage over other marketplaces.
As Wish Co-founder and CEO Peter Szulczewski says, “The more we invest in data to personalize the recommendation experience, the more we see improvement in conversion rates.” Wish’s success is a testament to the power of personalization in e-commerce, and it’s changing the game for buyers and sellers alike.
Wish has disrupted the eCommerce industry by addressing some of the biggest pain points of online shopping. Here’s how they’ve modernized the experience for 2023 and beyond:
- Browse like in-store shopping
Wish recognizes that many shoppers enjoy browsing in physical stores before deciding what to buy. They’ve brought this experience online by presenting a curated selection of products personalized for each shopper. This approach helps avoid the hassle of searching through an endless digital warehouse.
- Cater to a wider customer base with lower prices
Traditional online marketplaces often cater to the top 5% of earners in the US and Europe, leaving many potential customers without affordable options. Wish has flipped the script by offering no-name items at lower prices with longer delivery times. Their name is a nod to those who once wished for things they couldn’t have but now can with Wish.
- Optimize for mobile shoppers on iOS, Android, and Windows Phone
Mobile devices are increasingly becoming the primary means of online shopping, but their small screens can make browsing and comparing products difficult. Wish has addressed this by presenting products in a visually engaging two-column format with minimal text. They’ve also incorporated a swipe bar for easy navigation between categories.
With these innovative solutions, Wish has created a unique shopping experience that appeals to a wide range of customers worldwide.
Sell on Wish: Know the facts & figures
Wish, the online retail site ContextLogic Inc. operates, has been a major player in the e-commerce industry for several years. However, the company’s revenue has taken a hit recently, declining to $570 million in 2022, representing a 73% drop from the previous year.
This decline has been attributed to several factors, including increased competition, shifting consumer preferences towards premium products, and faster delivery times. Wish has implemented a new strategy focused on quality control, branding, and expanding its product offerings to include more premium items.
Despite the revenue decline, Wish continues to attract a considerable user base, with over 24 million monthly active users and approximately 650 million registered users. In addition, the company’s platform remains a popular destination for bargain hunters worldwide, with a vast selection of affordable, no-name products.
Wish’s commitment to customer satisfaction remains a top priority. The company has continued to invest in data mining and machine-learning technology to personalize the shopping experience for each user. They also offer various freebies, coupons, and prize draws to incentivize and retain customers.
As Wish continues to adapt and evolve, it remains a notable player in the e-commerce industry, with a unique approach that appeals to diverse customers. Despite the recent revenue decline, the company’s commitment to quality and customer satisfaction positions them well for future success.
How to Sell on Wish: Make it Personal
Wish Revenues Generated from 2017 – 2020
Stats most companies could only wish for:
- 24M Monthly Active Users (MAUs)
- Approximately 170,000 Registered Merchants
- Approximately 900,000 Products Sold Daily
Around 2017, Wish was The 9th most downloaded Android app
Around 2017, Wish was one of the most visited apps globally – on Par with Uber!
By April 2023, SimilarWeb.com stats on Wish.com reveal #32 ranking in US eCommerce & Shopping Marketplace
Wish caters to a younger demographic
As reflected in its top-selling product categories: gadgets, housewares, accessories, hobbies, beauty, fashion, shoes and children’s products.
What to sell on Wish?
Mobile phones are estimated to be used by 7,49 billion people by 2025. Best-selling items include watches, phone cases, power banks, car phone holders, and Bluetooth headphones.
The market value of home workout equipment, craft supplies, and sports equipment is expected to reach $21.8 billion by 2026.
- Home décor
Market value of home decor items is expected to reach $898.3 billion by 2027.
- Makeup & beauty products
The beauty and personal care industry is expected to reach $716.6 billion by 2025. Best-selling items include makeup brushes, eyelashes, and nail art.
The global automotive aftermarket is expected to reach $542.1 billion by 2026. Best-selling items include car seat covers, LED lights, and phone holders.
- Phone upgrades
The global mobile phone accessories market is expected to reach $162.8 billion by 2030.
Best-selling items include phone cases, screen protectors, and power banks.
- Baby & kids
The global baby care market is expected to reach $14.5 billion by 2027. Best-selling items include baby clothes, toys, and carriers.
- Eco-sustainable & biodegradable products
The global biodegradable plastics market is expected to reach $6.2 billion by 2026. Best-selling items include reusable bags, eco-friendly cleaning products, and biodegradable phone cases.
- Personal health care
The global health and wellness market is expected to reach $7 trillion by 2025. Best-selling items include health supplements, vitamins, and personal care products.
- Pet supplies
The global pet care market is expected to reach $241.1 billion by 2026. Best-selling items include pet food, toys, and grooming products.
Who is a good fit for selling on Wish?
Wish is expanding beyond its predominantly Chinese merchant base and looking for local businesses around the world to sell on its platform. Here’s what types of companies are best suited to sell on Wish:
- Non-branded, affordable products
Selling non-branded or inexpensive products is ideal for Wish as shoppers aren’t looking for specific brands, and you won’t compete against other first-party sellers.
- Handle your own shipping
Wish provides warehousing and fulfillment services in the US and China through FBW (Fulfillment by Wish), but as a seller, you are responsible for international shipping and customs clearance.
- Copies, not counterfeits
Most Wish sellers offer generic copies of popular products. However, Wish has a zero-tolerance policy for counterfeit goods and requires authorization from the brand owner (like Reebok, Puma, UnderArmour, or Sony) for selling branded merchandise.
Based on a 2017 survey by finder.com, almost 9 out of 10 Americans (88.6%) engage in impulsive online spending, with each person laying out an average of $81.75 per session, for a combined annual spend of $17.78 billion in the US. With 64% of all impulsive online shoppers making spontaneous purchases at least once a month, Millennials buy more products online than any other generation.
As seen in the prior section, Millennials (aged 18-25) account for the vast majority of Wish users. Sellers will appreciate the fact that Wish caters to today’s online buying habits. The finder.com survey revealed the following data for businesses selling on Wish:
- 67.2% of men admitted to impulsive online spending
- 62.6% of women admitted to impulsive online spending
- 11.0% of men have a daily impulsive shopping habit
- 4.8% of women have a daily impulsive shopping habit
- Men spend an average of $105.35 per session on impulsive online shopping
- Women spend an average of $70.97 per session on impulsive online shopping
Merchants must recognize that selling products similar or identical to a known brand’s design, name, or packaging is classified as counterfeit. This applies particularly to merchants with extensive product listings. Selling such products without the brand owner’s knowledge or consent is strictly forbidden. For additional information, please visit the appropriate Merchant Support page.
How to sell on Wish: Get repeat business!
Wish is seeing success in repeat business, with 36% fewer refund requests and 58% fewer cancellations. With a doubling of Wish shoppers’ NPS ratings in the last 18 months, the company plans to improve search engine marketing and SEO to further establish the Wish brand.
Wish aims to grow its user base organically by improving first-time order experiences and through email and SMS campaigns. The upcoming “Wishmas 330” shopping event will offer over 500,000 discounted items daily for seven days and is expected to bring back former shoppers and attract new users, similar to Amazon’s Prime Day event.
- Large platform of merchants & customers
With Wish, your products are showcased to 24 million monthly active users, with over 900,000 products sold daily.
- Mobile optimized eCommerce platform
Wish is designed for mobile shopping, with over 90% of sales on the mobile app. By 2024, mobile commerce is expected to account for 71% of all global e-commerce.
- A powerful discovery-based platform
Wish is a platform that operates on a discovery-based model. Customers are presented with a curated feed of visually appealing products, categories, brands, and promotions catering to their interests. This ensures that most Wish purchases are based on discovery rather than specific searches.
How to sell on Wish: fees & commissions EU + non-EU countries
- Targeted exposure for maximum impact
Wish maximizes the impact of your product listings by displaying them only to the most relevant consumers based on their demographics, past purchase behavior, and wish lists.
- Track your sales on the go with the Wish for merchants app
With the Wish for Merchants mobile app, you can conveniently track your sales and stay up-to-date on your business performance no matter where you are. Download the app now to manage your store on the go.
Selling on Wish: featured opportunities
- Fulfillment by Wish (FBW)
If you have customers in China or the US, utilizing Wish’s fulfillment services can benefit you. Access your merchant account and click on FBW (beta) > Fees and Payment to determine the cost. Keep in mind that domestic shipping fees are weight-based.
New merchants who want to join Wish Standards sooner can increase their sales by using ProductBoost. According to recent data from April 2022, new merchants who spend on ProductBoost within a 30-day period make an average of $300 in sales.
In contrast, new merchants who don’t use ProductBoost only make about $10 in sales in 30 days. To learn more about the qualifications and benefits of Wish Standards, check out the “How to Navigate the Wish Standards Performance Dashboard” guide.
Our ProductBoost Tip
If you’re a Payoneer customer, you can use your Payoneer account to transfer funds to your ProductBoost balance easily. Please navigate to Chapter 5 to learn more about our payment solution.
Blitz Buy – The Wish Wheel of Fortune!
Looking for some fun while saving money on Wish.com? Look no further than Wish’s Blitz Buy game! You can play every day to unlock exclusive deals. Access Blitz Buy in the Wish app or browser menu.
Here’s how to play:
- Spin the wheel to reveal discounted items
- Add items to your cart before the timer runs out
- The Blitz Buy time window is displayed by a countdown timer within the cart or on product pages.
Is it worthwhile for non-China-based merchants to sell on Wish?
Wish certainly thinks so, and so do we!
Are you ready to take your shopping game to the next level? Look no further than Wish, the social commerce platform that is capturing the attention of millennials worldwide. With half of its customers under 30 and a predominantly female user base, Wish has a special appeal to the young and trendy.
But it’s not just the social networking aspect that draws customers in. Wish also offers faster fulfillment and higher-quality products than its competitors, thanks to its vast network of over 170,000 sellers. And for European merchants, there’s even more potential to stand out by offering unique items that aren’t currently available on the platform.
Wish encourages sellers to explore categories like Personal Care, Toys & Games, Home & Garden, Discount Electrical Appliances, and Fragrances, and capitalize on the opportunity to be the first to market with sought-after products. So, what are you waiting for? Join the Wish community and tap into the buying power of the next generation.
How to Sell on Wish: The Registration Process
It’s pretty simple.
1. Sign up
Start here by signing up. You’ll be able to create your store for free.
2. Upload your products
You can enter your product information (name, description, images, unique IDs, colors, sizes, prices, etc.) through a CSV file, an API, or manually.
3. Register your store with Wish
Provide proof of identity as either an individual or a company so Wish can complete the store registration process. For an in-depth, step-by-step guide to getting started on Wish, check out this article.
Fulfillment & logistics
Merchant fulfillment responsibilities
In return for being able to sign up as a merchant quickly and easily, Wish requires only two things of you:
- Honesty, especially with regard to steering clear of counterfeit goods
- Timely deliveries, which relate to your end of the fulfillment process.
Wish simplifies the order fulfillment process by providing daily notifications of customer orders, including information on when and where to ship the items.
The speed at which you are expected to fulfill orders is determined by the program associated with your store. For merchants who prioritize fast shipping, Wish Express is a program worth considering.
Wish Express – faster shipping guaranteed
Wish Express is a program that offers faster shipping for eligible items with expedited delivery times varying by region.
An orange truck icon appears next to eligible items when shopping and can be variation specific.
Shipping times range from 5-10 working days, with some arriving as soon as 2 days after purchase. Estimated delivery dates are provided on the listing page and in the cart.
Wish offers an “Express” badge for items that qualify, which increases their exposure threefold. Plus, if the seller delivers the item on time, Wish will refund 5% cashback, effectively reducing its commission to 10%.
For details of this program, see the Wish Express FAQs.
Fulfillment by Wish (FBW)
If you’re a seller looking for an efficient way to manage your orders, Fulfillment by Wish (FBW) is the perfect solution. Currently available in China and the US, FBW is designed to streamline your domestic order fulfillment process.
When you enroll in FBW, you’ll be responsible for shipping your items internationally and handling customs clearance. However, within your country, FBW will take care of everything else, from storing your items in their warehouse to handling all order processing, shipments, payments, refunds, and customer support for logistical issues. This means that you can focus on growing your business while FBW takes care of the rest.
FBW is especially great for merchants selling compact items since the fees are determined by item size and weight. This makes it easy for you to calculate your costs and keep your pricing competitive. Plus, the FBW platform is easy to use and allows you to monitor your inventory and track your orders in real time.
For details on this program, see the Fulfillment by Wish Terms and Conditions.
FBW, which is currently available in China and the US only, enables you to:
- Reduce domestic shipping times.
- Provide logistics-related returns services and customer support in the local language (e.g., Mandarin Chinese for China and American English for the US) through Wish.
- Note that any refunds that are not logistics related, such as issues with product quality and functionality, are your responsibility.
- Quick access
If you want to access your FBW account in just two days, reach out to your account manager and submit the necessary documents.
- Clear accountability
All refunds related to logistics are handled by Wish. However, as a merchant, it is your responsibility to process refunds related to the quality and functionality of the product.
Making order out of taxes
To use FBW, you must provide your tax documentation to your account manager. It is recommended that you complete the forms with a qualified tax advisor. Select the appropriate tax form based on your status.
90 days complimentary storage
Wish allows you to ship unlimited units to the warehouse with 90 days of free storage. Additional storage will incur fees, so plan accordingly.
Fulfillment by other means
You don’t have to use FBW to sell on Wish. If you’re already using a fulfillment company in your country, make sure it can handle the US market. If you need a US-based third-party fulfillment company, consider these top options:
- FedEx Fulfillment
Be sure to run a thorough check on the companies before choosing them because they will be critical to your success.
In addition, retaining a certified logistics company may be the most important step in making your merchandise available internationally.
Below is a list of the top five logistics providers in North America, based on the 2022 Essential Financial and Operating Information for the 100 Largest Logistics Companies in North America:
Below is a list of logistics providers in China who work with Payoneer and can be easily paid using your Payoneer balance:
YunExpress offers a variety of global logistics and fulfillment services, including up to 50 shipping options and partnerships with renowned couriers like DHL and UPS. Their fast transit and competitive pricing make them an ideal choice for merchants, especially with their overseas warehouse network in Europe and the US.
CNE Express is a logistics provider specializing in cross-border e-commerce for Chinese merchants. They offer global warehousing, terminal network, and advanced technology to enhance the global consumer experience for cross-border shopping logistics.
SFC Service Ltd is a leading logistics company that provides comprehensive solutions for cross-border e-commerce, including international postal service, special line service, express service, smartfulfillment service, and Amazon India station registration service.
Wise Express is an international logistics service provider in China offering a range of services, including FirstMile pick-up, cross-border logistics, supply chain finance, intelligent port warehousing, and more to cross-border e-commerce merchants.
For further details about fulfillment, see the Wish Merchant FAQs.
Delivery, returns & customer care
The journey from warehouse to customer involves more than just shipping. It encompasses delivery, returns, and customer support as well.
To make this stage a success, you have three options: handle it in-house, team up with third-party providers, or take advantage of FBW services in China and/or the US.
If you need help finding the right third-party providers, you can check out the “Finding the right partners” section in this chapter.
How Wish can help
Deliveries – on Wish
When using FBW in China or the US, Wish handles all logistics-related issues. You can view all FBW charges on your Wish for Merchants dashboard, and they are deducted from your merchant balance at the end of the billing cycle. You don’t need to make advance payments; deliver your inventory to the Wish warehouse using DDP.
Delivery policy tip
Wish has a list of approved shipping carriers that provide “Last Mile Tracking” and delivery confirmation to ensure efficient and reliable delivery of orders. As a Wish merchant, working with one of these qualified companies is mandatory. For a complete list of approved shipping carriers, please refer to Wish’s Shipping Carriers page.
Returns – on you
Ensuring hassle-free returns at no additional cost can earn you a credible reputation as a seller. Check out Wish’s return policy for more information about refunds and your responsibility as a merchant.
When providing customer service, adjusting your hours for different time zones and communicating in the local language are important. Email is the preferred channel for customer interaction, but receiving and answering calls or messages in the local language is crucial. In addition, as one of the most reviewed shopping platforms, bad reviews can hurt your reputation, so it’s important to provide quality customer care.
Great customer care requires communicating in the buyer’s native language. This ensures that nuances are not lost in translation, avoiding misunderstandings and dissatisfaction. In addition, it’s important to address customers at the appropriate level of formality, as cultural differences can easily offend them.
Poor translations can lead to negative reviews or even legal claims against you. If you cannot handle returns, customer service, or translations alone, consider partnering with local services to provide the best possible customer care.
Picking the Right Partners
Look up local services on the Internet and get recommendations from friends and business partners. Consider the following before you choose:
- Success rate
Success speaks for itself. Kindly have a look at their clients’ testimonials and reviews on different platforms. These opinions will help you know what to expect.
Most services specialize in specific industries. A good indicator would be that a service positions itself as a leader in its areas of expertise.
Certifications do not guarantee performance, but they can help minimize service issues and maximize localization quality. Ask the service if it has been certified (e.g., ISO9001) and for how long. The more time it has been certified, the more mature its quality management system is. Also, inquire about ongoing monitoring processes.
Every task has its complexities, possibly including other subcontractors and their coordination. A sound project management system can keep track of all resources at once. A service using such a system will provide better service, fewer errors, and management and storage of all data.
- Price-value ratio
Your goal is to hire the best service in your industry, not necessarily the cheapest. Localized customer service or translation services can be justified by what you get—lower risk, fewer support calls, wider product acceptance, and, ultimately, satisfied clients.
Shipping and FBW
Fulfillment by Wish (FBW) provides merchants with order fulfillment once their inventory is shipped to the Wish warehouse in China or the US. However, sellers are responsible for finding their own carrier and/or freight forwarder for international shipping, as well as clearing customs.
Here’s a simple breakdown of the process:
- Package your product
- Label your packages with FBW labels
- Insert labeled packages into a larger shipping box
- Print and insert a Manifest in each box
- Print and stick Case Labels on each box
- Ship to the Wish warehouse
To ship to Wish, ensure that your products are Delivered Duty Paid (DDP), as failure to do so may result in the warehouse rejecting your shipment.
In-house or outsourced
To ensure the best international shipping experience, it’s advisable to work with a third-party logistics provider (3PL). Seek recommendations from friends and colleagues and find a 3PL with relevant experience.
Take the time to meet potential partners in person, clearly communicate your needs, and don’t hesitate to ask questions or request references. Contacting references can help you make a more informed decision.
As a Wish merchant, you have several options available:
You can ship it yourself
Use this method to ship your products overseas:
- Pick an international carrier.
- List yourself as the exporter.
- Allow your carrier to handle all customs & duties.
- Ensure that your customers have access to accurate details about your products, including their origin & estimated delivery times.
Key factors influencing international shipping costs:
- Delivery time
- Package size & weight
- Source and destination
In addition to the shipping fees, note that customs duties & taxes must be paid.
All items arriving in the US via commercial carrier must be entered by the Importer of Record (IOR), who can be either you or your customs broker. Find a customs broker by visiting the Ports section of the US Customs and Border Protection website and selecting the state and city for import. Look for “Broker listing” below the city information.
How we help with selling on Wish
Congratulations on mastering the art of selling on Wish! Now, let’s take your cross-border earnings to the next level with Payoneer – the world’s leading payment platform designed exclusively for businesses and professionals.
As Wish’s trusted payment provider, we make it easy to receive your Wish disbursements directly into your account and withdraw them to your local bank account in your preferred currency. You can also use your funds to invest in your business or pay suppliers – all with just a few clicks.
By linking your Payoneer receiving account to your Wish merchant account, you’ll have access to a world of convenient and secure payment solutions. Say goodbye to complicated cross-border transactions and hello to seamless payments with us.
Want to get paid early? No problem
Ready to take your Wish business to the next level? With Payoneer’s early payment program, you can get up to 80% of your expected payments in advance, putting cash in your pocket when you need it most.
No more waiting for payments to come in – with Payoneer, you can reduce the waiting period between the sale and receipt of funds, giving you the flexibility and freedom to grow your business on your own terms.
And the best part? Signing up is easy! Simply link your Payoneer receiving account to your Wish merchant account and start enjoying the benefits of early payments today.
So why wait? Sign up with Payoneer and start taking your Wish business to new heights!
Payoneer payments tip
Payoneer can help you get paid in JPY, CNY, USD, GBP, EUR, and other currencies as you expand into additional regions.
What sets us apart?
- Simple cross-border payments: Easily accept and make payments in multiple currencies with Payoneer’s quick and cost-effective solution.
- Fast access to earnings: Get your earnings in your local currency quickly and easily with low rates and high-volume seller discounts.
- Expand to multiple marketplaces: Connect with global consumers by listing on top online marketplaces and receive payments from all your Wish sales in one place.
- Round-the-clock support: Get dedicated, multilingual support 24/7 from Payoneer’s global team.
You got paid via Payoneer. Now what?
- Transfer funds directly from your Payoneer account to your local bank account in your preferred currency hassle-free.
- Pay your suppliers worldwide for free, without exchanging currency or paying any fees. Simply hold the currency in your Payoneer account and make a transfer to your supplier in their local currency.
- Withdraw your funds or make purchases online and in-store with the Payoneer card, accepted at ATMs worldwide.
- European sellers can easily pay their VAT in GBP or EUR directly to the tax authority from their Payoneer account without any extra fees or hassle.
With Payoneer, managing your cross-border payments has never been easier. Enjoy convenience, security, and low fees while expanding your business globally. So, sign up now and start taking advantage of all these amazing benefits!
What kind of seller is a great match for Wish?
Knowledge of VAT rates per category is important for sellers. Because VAT is included in a product’s retail price, you reduce your profit margins if you underestimate the VAT.
Value Added Tax (VAT) in Europe
As a seller in Europe, it’s important to include VAT (Value Added Tax) in the total cost of your sale. This tax is charged on goods and services sold by VAT-registered businesses, with varying rates depending on the product category and location.
VAT rates required to qualify for refunds
Below are the standard VAT rates for countries where Wish ships. Please note that these rates may vary depending on the product type, and your refund may be lower than the listed rates due to processing fees.
Standard VAT Rate
*Please note that VAT rates are subject to change at each country’s discretion. For up to date VAT rates, please check this listing from GVC (Global VAT Compliance ®)
The time of processing VAT registration differs from country to country and can take 14 days in the UK to a few months in Germany, France, Spain, and Italy. If you are a seller with an incorporated entity outside Europe, you must register for VAT.
If you are a seller with an incorporated entity within the EU, you’ll need to register for VAT if the total value of your taxable supplies, distance sales, and acquisitions exceeds the registration threshold in the country in which you’re selling.
Registering for an EORI number and filing VAT reports
Get your products to Europe by first obtaining an EORI number linked to your VAT number, which customs officials need to identify your shipments and issue import VAT documentation. Don’t forget to include both numbers in your bill of lading.
Missing a VAT return deadline could result in hefty fines imposed by local tax authorities, so be sure to work closely with your accountant or tax agent to ensure timely payment. Don’t let these important details go unnoticed – take advantage of EORI and VAT numbers to streamline your shipping process and avoid penalties.
Pay your VAT directly from your Payoneer account without conversion fees. Click here for more.
Consider partnering with a VAT expert who has experience with Europe’s regulations. Here are a few of our trusted partners that we recommend:
Get personalized assistance with VAT registration and return processes in the EU market with SimplyVAT. Their approach is tailored to your business needs, ensuring a smooth & hassle-free experience. Let SimplyVAT guide you through the complex world of VAT regulations and help your business succeed in Europe.
AVASK is not your run-of-the-mill VAT compliance service provider – they go above and beyond! By combining their international VAT compliance services with their tax consultancy expertise, they can help you identify cost-saving opportunities and create efficient business practices. Trust AVASK to be your partner in business success.
VATGlobal has an experienced team of experts who can advise your business on VAT structuring, supply chain, and customs clearance issues.
- Cross Border VAT
Cross Border VAT simplifies producing and filing your EU VAT reports using automated software that streamlines the collation of your marketplace sales and returns data.
US tax tip
Sellers need to be aware of the ‘sales tax nexus.’ This means that if a seller has a significant presence in a state, they will be responsible for collecting sales tax. For example, a significant presence can be established if a seller uses a fulfillment center in that state or if they have affiliates, personnel, or warehouses.
US federal & state taxes
The US Internal Revenue Service (IRS) requires non-US taxpayers to provide Form W-8BEN to be exempt from US tax reporting requirements.
Taxes on online purchases
In the US, online sellers must collect sales tax in states with a “sales tax nexus.” This means they have a significant presence in the state. Forty-five states have a sales tax, and the customer’s mailing address determines taxes. Alaska, Delaware, Montana, New Hampshire, and Oregon are the five states without sales tax. If you’re a non-US seller, you’ll need to register with US tax authorities and follow these steps from TaxJar:
- Get an EIN.
- Set up a payment method.
- Obtain sales tax permits in states where you have nexus.
- Define your sales tax collection preferences for Wish.
Below are US state and average local tax rates as of January 1, 2018:
Collect funds from foreign marketplaces. Pay international suppliers. Grow your network.
Payoneer is your ultimate partner in the world of global commerce. Now that you know how to sell on Wish, you can enjoy many benefits using Payoneer’s innovative cross-border payment platform. By connecting your business to millions of professionals and businesses from over 200 countries, Payoneer empowers you to reach new audiences and expand your brand’s global reach.
With Payoneer, you can effortlessly receive your earnings from any marketplace quickly and affordably in your chosen currency using the method that best suits your needs. So why wait? Join Wish and hundreds of other marketplaces worldwide today and start growing your business with Payoneer!
To learn more about Payoneer, click here