Private investors have put a lot of faith in Wish becoming the online version of dollar stores, betting on huge growth for the ecommerce site and rewarding it with a valuation of about $8.5 billion. One possible hitch in those plans is that Wish’s new customers stop shopping at the site in fewer and fewer numbers within a few months of their first visits, according to new data.
On average, only 8% of people in the U.S. who bought something from Wish for the first time between August 2016 and the end of July 2017 were still shopping on the site a year after their earlier purchases. And the figure continues to decline after that, previously unreported data from the credit card transaction tracker Second Measure show.
