Hey Guys, I'm jumping on this (old) wagon as I had a similar question and I find the previous two replies are probably still interesting.
So we released our VR game "Rainbow Reactor" last tuesday and while we - as more or less hobby devs - didn't have the highest expectations, the sales are still underwhelming, even though the game is featured quite nicely in Steam's VR section, we got more than 10 Youtubers make a video, 10 curator reviews and so on…
Still we only sell about 15 games a day, which would be totally fine, if not for the widely accepted prediction that the first week makes up about 25% of lifetime sales and the first month will be about 50% of lifetime sales
So I kind of hoped that our (relatively) high wishlist adds of about 40 per day could still mean some "offset success". To answer OPs question, our conversion rate is currently 7.2 percent.
My own question would have been what Steam users make wishlist adds for and what it all means, but this question has mainly been answered by the previous two posters: It's more of a note pad that people hardly ever get back to, even though some do in case of a sale. The latter is good to know, only thing is, we started with a launch discount of 40% so I don't expect the game to be cheaper than that for quite some time
Anyhow, I guess we'll just have to make do with what it is and try to finish our Early Access phase without losing too much motivation… maybe we can talk ourselves into thinking that people only wishlist the game so they are reminded when it leaves Early Access
Still if anyone has some more insight or tips, that would be highly appreciated!
Here's the link to our Steam store page:
https://store.steampowered.com/app/789090/Rainbow_Reactor/