Shein has been benefited by the pandemic. According to Euromonitor International proprietary research, Shein was the largest online-only fashion company in the world as measured by the sales of its own brand.
Zara and H&M are Shein’s direct competitors, although the former two sell both online and in physical stores. Boohoo, an online retailer that sells fast fashion in Britain, and ASOS are also competitors to the Chinese fashion group.
Shein became the US most downloaded app According to App Annie and Sensor Tower, the app overtook Amazon as America’s most downloaded shopping app across both the App Store (and Google Play) combined. Bloomberg data shows that Shein’s app was the most downloaded in the United States last May, with 17.5 millions downloads.
On May 11, Shein became the top shopping app on Android by new downloads in the US, and six days later took the top spot on iOS as well, according to App Annie. In April, it briefly topped the Android charts. Shein also rose to No.1 on the App Store Chart, which measures downloads, velocity, and other signals to determine ranks. Tech Crunch published Shein’s chart.
While Amazon is back to being number one, “daily installs between the two apps since then have largely remained close,” highlighted Craig Chapple from Sensor Tower. He said that Shein had “exploded onto the scene” in recent months and that everyone wants to know everything about Shein.
Shein offers clothing for women in sizes ranging from XS to 5XL, as well as menswear, clothes for kids and, makeup, tech and accessories for pets and the household. The company is present in 220 countries and is one of the most valuable privately held businesses in China. According to PitchBook, Shein’s value was 15 billion dollars a year prior. According to CNN Business, this had risen to 30 billion dollars by the end of the summer. Bloomberg reported that June’s revenue reached 10 billion dollars.