SHEIN, a fast-fashion brand from China, has now achieved impressive results in the US market. According to the latest news,Shein currently accounts for the largest share of spending in the U.S. fast fashion market, at around 40%.
This figure is not only impressive, but also shows that SHEIN has successfully emerged as a market leader in the United States in just a few years.
In the first 10 months of 2023, SHEIN's sales increased by more than 20% compared to the same period in 2022, which is an amazing growth rate. As a global brand, SHEIN's success is no accident.
With its accurate market positioning, unique design style and efficient chain management, it quickly occupied a place in the fast fashion market.
It is worth mentioning that SHEIN's cooperation with another fast fashion giant, Forever21, has also further expanded its brand influence. With the launch of the co-branded collection, the two brands have joined forces to push the trend elements of fast fashion to new heights.
However, SHEIN's success has not come without a price. Due to its rapid expansion and low price strategy, some users are starting to switch to other platforms.
In June 2023, temu had 2With 26.3 billion users, SHEIN has 251.3 billion users.
Over the past six months, temu has seen a growing number of users. In December 2023, temu saw 46.7 billion, ranking second in the world along with AliExpress, while the number of SHEIN users dropped to 172.3 billion.
In just six months, temu added 24.1 billion users, doubling the number of users. Shein lost 80 million users, and the user scale fell by more than 30%.
In fact, the competition between SHEIN and Temu has attracted widespread attention in the industry. Both are low-cost routes, which inevitably lead to disputes.
Perhaps out of a keen awareness of the crisis, Shein has previously opened a localized ** chain and platform layout, trying to maintain its leading position in the market through these strategies.
In short, SHEIN's surge in the fast fashion market is remarkable, but it is also facing challenges from competitors. In the future, we will continue to pay attention to the changes in this market and look forward to SHEIN continuing to maintain its leading position and bringing more fashionable and high-quality products to global consumers.