Download volume exceeds Amazon, SHEIN dominates American fast fashion

Against the backdrop of the global epidemic driving the rise of e-commerce and online shopping, SHEIN has become the largest fast fashion retailer in the United States, and its APP has been downloaded more than Amazon in the United States.

According to statistics from App Annie, as of May 17, SHEIN ranked first in the iOS shopping app download list in 54 countries, and ranked first in the Android shopping app download list in 13 countries.

However, as the fast fashion market is showing signs of fatigue, it remains unknown whether SHEIN can continue its glory in the future.

Dominating the fast fashion industry in the United States, SHEIN's market value surged by nearly 160%

The editor learned that as of June 16, SHEIN's market sales in the US fast fashion industry had reached 28%, exceeding the sales share of competing brands H&M (20%) and Zara (11%). It is understood that SHEIN had already accounted for 13% of the total sales in the industry at the beginning of 2021.

Statistics show that from January to mid-June 2021, the fast fashion industry market in the United States grew by 15%, but the SHEIN brand soared by nearly 160% during the same period.

SHEIN is currently the most well-known Chinese cross-border fast fashion brand. During the epidemic, the change in consumers' shopping methods has led to a huge development of online shopping. Thanks to SHEIN's strategy of focusing on developing mobile shopping platforms, the brand has accumulated a large number of users in the past year and has been recognized by consumers. This company, which has a valuation of more than 15 billion US dollars, has completely established its own brand this time!

The fast fashion market is about to show signs of fatigue. Can SHEIN continue its glory?

However, with the increasing number of consumers in the fast fashion industry, SHEIN is also facing numerous external challenges.

It is reported that the overall turnover of the fast fashion industry is expected to drop by 10%-30% in the next five to ten years, as more and more consumers are aware of the potential harm that the clothing manufacturing industry brings to people and the environment. In response to this situation, some clothing brands are considering measures such as improving clothing production technology and extending the fashion cycle of clothing to seek sustainable development for people and nature.

In addition, the fast fashion industry is now in a state of fierce competition. It is understood that after SHEIN achieved great success, more fast fashion brands have emerged in cross-border e-commerce exports. Coupled with the siege of old fast fashion brands such as Zara and H&M, new and old players are sharing the fast fashion cake together. SHEIN will lose its market share to its peers if it is not careful.

In view of the possible fatigue of the entire fast fashion industry and the current situation of fierce competition in the fast fashion industry, has SHEIN made corresponding countermeasures and plans to deal with the worrying situation? Opportunities and challenges coexist, and we will wait and see how it will develop in the future.

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