As short-form video continues transforming global e-commerce, Russian retail giant Wildberries is making strategic moves to capitalize on the trend. The company announced it will reduce commission fees by up to 1% for select sellers on its new social commerce platform Wibes, effective April 21, 2024.
The fee reduction targets merchants who actively create content on Wibes, which launched in beta on March 11. The platform specializes in product videos under 90 seconds, including demonstrations, unboxings, and trend showcases, designed to drive purchases through engaging content.
Wibes represents Wildberries' ambitious push into social commerce, featuring deep integration with its main marketplace. Users can seamlessly transition from watching product videos to completing purchases on Wildberries' primary platform, creating a closed-loop shopping experience.
Early adoption metrics show promise, with the platform already attracting over 170,000 daily active users. The commission adjustment applies to all product categories that meet Wibes' content publishing and fulfillment standards.
Industry analysts view this move as a multi-pronged strategy to lower seller operating costs, stimulate creative content production, and boost platform engagement. The initiative signals Wildberries' commitment to expanding its footprint in the rapidly growing social commerce sector.