From a unicorn to unseating Amazon: this is Shein, the influencers' cheap online clothing store
- elEconomista.es
The phenomenon of Instagram and Tik Tok among society sometimes causes emerging applications, companies or projects to rise rapidly against all odds. This is what has happened to Shein , an online store specializing in clothing that, due to its popularity among the influencers of these social networks, currently has a valuation of around 15,000 million dollars and exceeds downloads in several countries, including United States, Amazon as the most installed shopping app in recent days.
Born in 2008, in China , it has not been until these last few years that Shein (pronounced shi-in) has hit the big hit of her to be located in 220 countries spread all over the globe. An international, B2C-type online commerce platform (direct to consumer), which despite soon being recognized as a unicorn, already has figures that are beginning to resemble those of global fashion giants.
Only selling through its website or app, so it eliminates physical stores , this condition has meant that with the covid-19 pandemic its figures have not been damaged as much as other companies. In addition, it has taken advantage of the Tik Tok boom and the small influencers to be, at the moment, the most downloaded shopping app in 56 countries .
And it is that, in addition to its type of business, the other key to Shein's success is its prices. With hundreds of daily offers and costs so low that they even leave in anecdote what Amazon often encrypts, this company has always adhered to the motto "everyone has the right to enjoy the beauty of fashion".
For this reason, although it was born with a focus on women's clothing , at the moment its success is sales among young people with products for women, but also for men, children or with countless fashion accessories. An extensive catalog that, in 2020, represented a turnover of 10,000 million dollars.
All thanks to a model very similar to the one that catapulted Zara around the world in its day , real-time commerce and study of trends (instead of defining itself towards a single style of clothing), but with the Chinese power behind it has taken one more step. Thus, Shein constantly analyzes clothing searches in each country where it has a presence and manages to put products on sale at a very low price in a short period of time.
The new way of buying clothes online that continues to boom with a very high projection and threatens to be the next king of the youth market throughout the planet. At the moment, that nickname "unicorn" has long since outgrown him.
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