Have Temu and Shein Thwarted Wish’s Hopes of a Comeback?
Retail TouchPoints
AUGUST 7, 2023
Revenues were down more than expected, decreasing 42% YoY to $78 million ; adjusted EBITDA was in line with expectations but still represented a loss of $66 million in the quarter; and monthly active users were down 48% to 12 million. To help its merchants boost sales, Wish held its first major sales event in March 2023, dubbed “Wishmas.”
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