Shein - statistics & facts
Taking the fashion world by storm, Shein is renowned as the largest e-commerce only fashion retailer globally and has become a retailer used by millions of consumers everywhere on a regular basis. Shein, a Chinese brand, was originally founded in 2012 as SheInside, and only adopted the name Shein while rebranding in 2015. The company has since taken off and has recently been valuated with an approximated worth of over 100 billion U.S. dollars. On their corporate channels, Shein claims to be committed to making fashion affordable and accessible to everyone. However, while undeniably a massively recognized entity and particularly known for low prices, the fashion e-tailer has not steered clear of several controversies in its rise to fame.
With sustainable shopping becoming a relevant criterion for online shoppers when deciding on brands to spend on, such controversies surrounding Shein have since surfaced and now remain a relevant topic of interest among the public. As a private company, Shein has thus far not disclosed official financial statements, as well as information regarding their supply chain and working conditions. Additionally, the debate on fast fashion and its harm towards the environment has never been more relevant. As Shein continues to grow in popularity, such low levels of transparency from the company will only allow for suspicions of unsavory practices to continue.
However, Shein's popularity is by no means limited to the U.S. The Shein app ranked as the second most downloaded shopping app worldwide with a grand total of over 251 million downloads. E-commerce giant Amazon, which ranked just below Shein in app downloads in 2023, has announced a cutting of merchant fees for apparel sellers on the marketplace in 2024—a sign that Shein's presence in the fashion industry is here to stay.
Controversy and lack of transparency
Shein’s website, shein.com, has reached unprecedented levels of both online traffic and app downloads in 2023. Following Shein’s rebranding in 2015, its rise to mainstream fame and financial success has direct connections with the growth of social media, as well as social media as a source of product inspiration, in the last several years. Shein’s clothes are notoriously cheap, and as a fast fashion brand are guaranteed to follow the latest trends popular with shoppers looking to keep up with what’s popular. TikTok, Instagram, and YouTube were integral in the viral sharing of ‘Shein haul’ videos, in which influencers would bulk purchase clothing from Shein to showcase for content—a win for both creators and the brand alike.With sustainable shopping becoming a relevant criterion for online shoppers when deciding on brands to spend on, such controversies surrounding Shein have since surfaced and now remain a relevant topic of interest among the public. As a private company, Shein has thus far not disclosed official financial statements, as well as information regarding their supply chain and working conditions. Additionally, the debate on fast fashion and its harm towards the environment has never been more relevant. As Shein continues to grow in popularity, such low levels of transparency from the company will only allow for suspicions of unsavory practices to continue.
Popularity in the States and beyond
In the United States, Shein benefits from relatively relaxed import taxes on their low-priced clothing. This has ultimately led for the fast fashion e-tailer to become extensively popular for consumers, even when buying in bulk. Shein is the biggest fast fashion retailer in the country, holding a significantly higher market share than its omnichannel competitors.However, Shein's popularity is by no means limited to the U.S. The Shein app ranked as the second most downloaded shopping app worldwide with a grand total of over 251 million downloads. E-commerce giant Amazon, which ranked just below Shein in app downloads in 2023, has announced a cutting of merchant fees for apparel sellers on the marketplace in 2024—a sign that Shein's presence in the fashion industry is here to stay.
