WIX is a proprietary software. They own your site. You are basically renting it.
PROS
- 1st year costs can be lower
- All of the site components are in one location
CONS
- If you want special features, WIX may not have the options you desire
- If you want to move your site, you have to start over from scratch
- Domain is more difficult to transfer
- Few programmers to help you