What is meant by wishlist?

 the list that children write  to santa claus before christmas,the list a common man prepares for the finance minister to speak before every annual budget.

Well, I know exactly what you want:

If you surf online to buy things; You have an option for every product “Add to wishlist” and “Add to cart”.

“Add to wishlist” is used if you don’t have enough money at that moment, but you want to buy the product later. So the item gets stored on your profile and you can review it later at any time.