Wish Unveils New Shoppable Video Feature to Tap Into Growing Demand for Immersive Content

Rhea-AI Summary

ContextLogic Inc. (NASDAQ: WISH) has launched Wish Clips, a new shoppable video feature designed to enhance the customer experience on its platform. Available now for Android users in nine key markets, with an iOS rollout starting in April, Wish Clips allows users to visualize products through 5-30 second videos created by merchants. This feature aligns with Wish's commitment to 'discovery commerce' and aims to simplify the path to purchase. The company plans additional features enhancing user experience and merchant support throughout 2022.

Positive

• Launch of Wish Clips, enhancing user experience and product visualization.
• Wish Clips available for Android in nine markets, iOS rollout planned.
• Opportunity for merchants to create engaging video content to drive sales.

Negative

• No financial metrics provided to evaluate direct impact on revenue.

Wish Clips is the first of many new features that will be rolled out on Wish this year

SAN FRANCISCO--(BUSINESS WIRE)-- ContextLogic Inc. (d/b/a Wish) (NASDAQ: WISH), one of the world’s largest mobile ecommerce platforms, today announced the roll out of Wish Clips - a new shoppable video feature that is designed to greatly enhance the customer experience and simplify the path to purchase.

Each shoppable video experience enables users to quickly gain more information about the product and envision the various ways it can be used or worn. With one tap, users can view the product details, visit the merchant’s store or add a product to their shopping cart. Buyers can also ‘like’ or report a video to Wish’s content moderation team.

Wish Clips is already available to Android users in 9 key markets¹, and will be rolled out to iOS users starting in April.

“Discovery commerce is the future and we are deepening our investment into new products and user-centric features to bring that element of discovery to life,” said Tarun Jain, Chief Product Officer, Wish. “For users, Wish Clips helps them better visualize the product and enjoy a more immersive, interactive experience. For merchants, Wish Clips provides a great opportunity to showcase their brand’s personality and style, while driving product discovery within a native shopping experience.”

Merchants have the ability to create and upload 5-30 second eye-catching video clips that showcase their product in action. ​​Through Wish’s merchant dashboard, merchants can access performance metrics to better understand how videos are able to drive sales for their products. The dashboard will be updated over time to include other metrics such as customer likes and watch time, in addition to a much more robust and streamlined user interface.

“We have built a one-of-a-kind shoppable video player to capture commercial inspiration like never before. The reaction so far from our users and merchants has been great. We look forward to completing the roll out of Wish Clips across our entire user base very soon,” continued Mr. Jain.

The introduction of Wish Clips is part of Wish’s broader effort to enhance the user experience on Wish and provide more tools for merchants to showcase their products. Wish Clips is one of many in a suite of new products and features slated for roll out in 2022.

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

About Wish:

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 over half a million 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.

Forward-Looking Statements:

This news release contains forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding the effectiveness of Wish Clips and its ability to enhance the customer experience as well as statements regarding Wish's outlook, priorities, strategic direction, partnership expectations (including merchant relationships), business operations, and growth initiatives. In some cases, forward-looking statements can be identified by terms such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “foresees,” “forecasts,” “guidance,” “intends” “goals,” “may,” “might,” “outlook,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “targets,” “will,” “would” or similar expressions and the negatives of those terms. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Further information on these and additional risks that could affect Wish’s results is included in its filings with the Securities and Exchange Commission (“SEC”), including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, and future reports that Wish may file with the SEC from time to time, which could cause actual results to vary from expectations. Any forward-looking statement made by Wish in this news release speaks only as of the day on which Wish makes it. Wish assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.

¹Australia, Brazil, Canada, France, Germany, Great Britain, Italy, Japan, United States

View source version on businesswire.com: https://www.businesswire.com/news/home/20220215005816/en/

Media contact:

Carys Comerford-Green

press@wish.com

IR contact:

ir@wish.com

Source: Wish

FAQ

What is Wish Clips and how does it work?

Wish Clips is a shoppable video feature allowing users to see product videos, click for details, and add items to their cart, aimed at enhancing user engagement.

When will Wish Clips be available on iOS?

Wish Clips is expected to be available for iOS users starting in April 2022.

In which markets is Wish Clips currently available?

Wish Clips is currently available for Android users in Australia, Brazil, Canada, France, Germany, Great Britain, Italy, Japan, and the United States.

What are the potential benefits of Wish Clips for merchants?

Merchants can create captivating videos that showcase their products, which can enhance brand visibility and drive more sales through interactive shopping experiences.

How does Wish plan to enhance the user experience in 2022?

Wish is rolling out multiple new features, including Wish Clips, to improve the shopping experience and provide more tools for merchants to highlight their products.