Shein is one of the most popular fast fashion players. Check out the latest Shein stats, users, annual revenue, valuation, market share, and facts.
Shein is an online fast-fashion retailer that offers trendy and affordable clothing, accessories, and beauty products for women, men, and children.
Founded in 2008, Shein has quickly become a popular destination for fashion-conscious shoppers around the world, with a presence in more than 220 countries and regions.
Shein’s business model focuses on offering a wide range of products at extremely competitive prices, often with frequent discounts and promotions.
The company’s success is also attributed to its use of data-driven marketing strategies, social media influencer collaborations, and an agile supply chain that allows for quick turnaround times.
While Shein has garnered a dedicated following for its affordable and trendy offerings, the company has also faced criticism for its fast fashion practices, ethical concerns related to labor and sustainability, and issues with product quality and sizing. Despite this, Shein remains a popular and influential player in the fashion industry.
Most Interesting Shein Stats & Facts
- Shein has 74.7 million users globally.
- Shein has more than 10 million monthly active users in the US alone.
- Shein adds about 6,000 new items to its range daily.
- The average item cost on Shein is $10.70.
- Shein’s platform has 600,000 products for sale.
- Shein has paid over $1 million to independent designers.
- Shein has an annual revenue of 24 billion.
- Shein is the second most downloaded shopping app worldwide at 193 million.
- Shein is the second most downloaded shopping app in the US at 32.3 million.
- Shein is valued at $100 billion as of 2022.
- Shein accounts for 40% of fast fashion market share in the United States.
- Shein has 237 million visits to its website.
Shein Users Stats
Shein has 74.7 million users globally.
Source: daxueconsulting, 2022
Shein Users by the Year
Here are the numbers of Shein users in the last 5 years:
- 2022 – 74.7 million
- 2021 – 43.7 million
- 2020 – 15.5 million
- 2019 – 5.6 million
- 2018 – 4.8 million
Source: daxueconsulting, 2022
Insight on Shein Users Stats
In 2018, Shein had 4.8 million users. The number of users grew significantly in the following year, with 5.6 million users in 2019. The growth rate increased even further in 2020, with 15.5 million users, more than doubling the previous year’s user base.
In 2021, the user base grew again to 43.7 million, representing an increase of almost three times from the previous year.
The most recent data provided shows that in 2022, Shein’s user base continued to grow at a rapid pace, reaching a total of 74.7 million users. This represents an increase of more than 70% compared to the previous year.
The significant growth in Shein’s user base over the past few years can be attributed to several factors, including the company’s affordable pricing, fast-fashion business model, and aggressive marketing strategies.
Additionally, the COVID-19 pandemic has likely played a role in the company’s recent success, as many consumers have turned to online shopping to avoid in-person retail experiences.
Overall, the data indicates that Shein has experienced significant growth in recent years, with a rapidly expanding user base that has more than doubled each year since 2019.
As Shein continues to expand its product offerings and marketing efforts, it will be interesting to see how the company’s user base continues to grow and evolve in the coming years.
Shein US Users
Shein has more than 10 million monthly active users in the US alone.
Source: daxueconsulting, 2022
Shein Statistics
Shein adds about 6,000 new items to its range daily.
Source: BBC, 2021
The average item cost on Shein is $10.70.
Source: BBC, 2021
Shein ship to 220 countries worldwide.
Source: BBC, 2021
Shein’s platform has 600,000 products for sale.
Source: BBC, 2021
Shein has thousands of third-party suppliers and about 200 contract manufacturers near its headquarters in Guangzhou.
Source: BBC, 2021
Shein has more than 250 million followers on social media.
Source: BBC, 2021
Shein has 200 in-house designers.
Source: BBC, 2021
Shein has paid over $1 million to independent designers.
Source: BBC, 2021
Shein Revenue
Shein has an annual revenue of 24 billion.
Shein Revenue by the Year
Here are the annual revenues of Shein in the last 3 years:
- 2022 – 24 billion
- 2021 – 16 billion
- 2020 – 10 billion
Source: Forbes, WSJ
Insight on Shein Revenue
In 2020, Shein’s revenue was 10 billion, which represents a significant increase from the previous year. However, the company’s revenue growth rate accelerated even further in 2021, with a revenue of 16 billion, indicating an increase of 60% compared to the previous year.
The most recent data provided shows that in 2022, Shein’s revenue reached an impressive 24 billion, representing an increase of 50% compared to the previous year.
This strong revenue growth can be attributed to several factors, including the company’s aggressive marketing strategies, focus on affordable pricing, and expansion into new markets.
One of the key factors behind Shein’s success is its ability to quickly adapt to changing fashion trends and consumer preferences. By leveraging data analytics and real-time market insights, Shein is able to rapidly produce and release new products that are aligned with the latest fashion trends.
Additionally, the company’s focus on affordable pricing and a fast-fashion business model has helped to drive sales and increase customer loyalty.
The COVID-19 pandemic has also played a role in Shein’s success, as many consumers have shifted towards online shopping due to restrictions on in-person retail experiences. This has allowed Shein to capture a larger share of the online retail market, further driving the company’s revenue growth.
Overall, the data indicates that Shein has experienced significant revenue growth in recent years, with the company’s revenue more than doubling between 2020 and 2022. As Shein continues to expand its product offerings and marketing efforts, it will be interesting to see how the company’s revenue growth continues to evolve in the future.
Shein Downloads Stats
Shein is the second most downloaded shopping app worldwide at 193 million, just after Shopee at 211 million.
Source: apptopia
Shein is the second most downloaded shopping app in the US at 32.3 million, just behind Amazon at 41.4 million.
Source: apptopia
Shein Valuation
Shein is valued at $100 billion as of 2022.
Source: WSJ
Shein Traffic Stats
Shein has 237 million visits to its website.
Source: Similarweb, 2023
US is the top country visiting Shein at 38.27%, followed by Brazil at 12.65% and France at 5.79%.
Source: Similarweb, 2023
Here is the traffic breakdown for the top 5 countries visiting Shein:
- United States – 38.27%
- Brazil – 12.65%
- France – 5.79%
- Spain – 5.01%
- Canada – 3.90%
Source: Similarweb, 2023
Shein accounts for 40% of fast fashion market share in the United States.
Here are the Shein’s market shares in the U.S. Fast Fashion Industry for the last 3 years:
- 2022 – 40%
- 2021 – 32%
- 2020 – 18%
Source: Statista, 2022
Shein Overview
- Launch Date: March 2008
- Headquarter: Nanjing, China
- Key Persons: Chris Xu (founder, CEO), Quist Huang (director, employee experience)
- Employees: ~10,000
- Business type: Private
- Industry: Shopping
How Does Shein Make Money?
Shein makes money through the sale of fast-fashion clothing, accessories, and other fashion items on its e-commerce platform. The company offers a wide range of products at affordable prices, which has helped to attract a large customer base.
Shein’s revenue primarily comes from the sale of its products to customers around the world. The company has a massive global reach, with operations in more than 200 countries and regions.
Additionally, Shein offers free shipping on all orders over a certain threshold, which has helped to drive sales and increase customer loyalty.
In addition to its core e-commerce business, Shein also generates revenue through various other channels.
For example, the company offers advertising and sponsorship opportunities on its website and social media channels.
Additionally, Shein has recently begun to explore new revenue streams, such as the development of its own branded products and collaborations with other fashion brands.
Overall, Shein’s business model is focused on offering affordable and trendy fashion items to customers around the world. The company generates revenue primarily through the sale of these products, as well as through advertising and other related activities.
FAQ for Shein
What is Shein?
Shein is an e-commerce platform that specializes in fast-fashion clothing, accessories, and other fashion items.
Where is Shein based?
Shein is based in China, with offices and operations in many countries around the world.
How can I buy from Shein?
You can buy from Shein by visiting the company’s website and browsing its selection of products. Once you’ve found items you like, you can add them to your cart and proceed to checkout.
How long does it take for Shein to deliver?
Delivery times can vary depending on your location and the shipping option you select. Generally, Shein offers free standard shipping on orders over a certain threshold, which can take 7-15 business days to arrive.
Can I return items to Shein?
Yes, Shein offers a 30-day return policy for most items. To initiate a return, you’ll need to log in to your Shein account and follow the instructions provided.
Is Shein a reliable website?
Shein has a large customer base and generally positive reviews, although like any e-commerce platform, there have been some complaints about customer service and quality issues.
Does Shein have a mobile app?
Yes, Shein has a mobile app that is available for download on both iOS and Android devices.
Does Shein offer free shipping?
Yes, Shein offers free standard shipping on orders over a certain threshold. The exact threshold can vary depending on your location and other factors.
Does Shein offer student discounts?
Yes, Shein offers a student discount program that provides a 15% discount on all orders for verified students.
How does Shein make money?
Shein makes money primarily through the sale of its products on its e-commerce platform. The company also generates revenue through advertising and other related activities.
Conclusion
Shein has experienced significant growth in recent years, with its user base growing from 4.8 million in 2018 to 74.7 million in 2022. This growth has been accompanied by a substantial increase in revenue, with the company’s annual revenues reaching $24 billion in 2022, up from $10 billion in 2020.
Shein has also emerged as a major player in the fast fashion industry, with the company accounting for 40% of industry sales as of March 2022. This success has been driven by Shein’s focus on offering affordable and trendy fashion items to customers around the world.
However, Shein’s rapid growth has also attracted scrutiny and criticism, particularly around the company’s labor practices and environmental impact. As the company continues to expand and gain market share, it will be important to monitor its impact on the industry and society as a whole.
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