Shein, the Chinese online womenswear retailer, has surpassed the likes of H&M and Zara to become the largest fast-fashion retailer in the US.
That’s what is being stated by a recently released report of Earnest Research!
According to the aforementioned report, as of 16 June 2021, Shein constituted 28 per cent of US sales – thereby surpassing Swedish fashion giant H&M (20 per cent) and Spanish bigwig Zara (11 per cent).
Shein, reportedly, also left behind other fashion giants like Forever 21 (10 per cent) and Fashion Nova (8 per cent).
Here it is imperative to state that the company constituted 13 per cent of the overall fast fashion industry sales at the start of the year.
The Earnest Research report also said that the US fast fashion market also rose by 15 per cent between January 2021 and mid-June, during which Shein grew by almost 160 per cent.
Significant digital rise is being seen as one of the major factors for Shein’s growing popularity in the American fashion market.
The report says that Shein’s growth could be due to its mobile-first strategy, which might have caught on in a big way with US shoppers.
Founded in 2008, Shein presently serves more than 220 countries.