WISH is an American, global, e-commerce platform. The company's primary business model is to connect the millions of buyers and consumers with small producers.
The company was founded in San Francisco in 2011, and in 2017, it was the 6th biggest e-commerce company in the world.
Two former Google and Yahoo employees founded WISH, but they quickly became aware that people did not want to buy expensive products from China off their phones.
The company WISH is disrupting the Danish market
o WISH is a service company
o The COVID 19 situation has been a factor for WISH having success in the Danish market.
2. Identify critical challenges for WISH in the Danish market. Discuss possible solution for 1 or 2 challenges.
The ultimate goal of WISH was and is to gain an even larger market share, and when moving into new markets, their very low prices make it possible to use a penetration pricing strategy.
As their line of products is almost infinite and are produced cheaply, as well of their use of technology which will be touched upon later, it is essentially relatively easy for WISH to expand to new markets, including Denmark.
The lower price helps a new product or service penetrate the market and thereby drive the competition away.
When initially entering the Danish market, this proved to be accurate, and it is a very significant factor for the success of WISH in the Danish market.