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According to App Annie and Sensor Tower data, Shein has become the most downloaded shopping app on iOS and Android platforms in the United States, successfully replacing the established giant Amazon. In addition, Shein is also ranked first in iOS shopping apps in 54 countries and first in Android devices in 13 countries. The company is valued at more than 15 billion U.S. dollars (about 96.5 billion yuan), but it has always been very low-key and has risen silently.
Different from e-commerce platforms such as Alibaba, JD.com, and Pinduoduo, Shein has its own production chain, covering all links from design, prototype, procurement to manufacturing, and each link is highly digitalized and can produce data every day. Hundreds of new products for different user groups. From the perspective of such a strategy, Shein is not so much an e-commerce platform, it is more of a Douyin in the cloak of e-commerce. The latter also uses intelligent algorithms to understand user habits in real-time and then match content with users to achieve user growth and retention.
As a fast-fashion cross-border e-commerce brand, Shein's main battlefield is not in the country, but in the vast overseas market. It is understood that in Europe and the United States, Shein's presence is comparable to Spanish fast-fashion giant Zara, with a sales network covering more than 200 countries and regions around the world. With the intensification of industry competition and the need for its own development, Shein has begun to shift from focusing on building its own brand to a platform. From the perspective of the growth logic of e-commerce companies, platformization should be said to be a path that has been cleared. Alibaba, JD.com, and even foreign Amazon are all platform-based e-commerce companies.
Some analysts pointed out that under the impact of the epidemic, the global e-commerce industry supply chain has undergone profound changes, and market competition has entered the second half. In this context, Shein, who possesses supply chain advantages, is undoubtedly more competitive, laying a solid foundation for its development.