With the price close to the people, rich and varied shopping choices and leading the fashion trend, fast fashion brand SHEIN has become a fashion giant that attracts men and women of all ages.
Recently, Joko, a French data analysis company, published a research report to analyze the anonymous bank transaction data of 500,000 users aged between 18 and 44 in France from January 1, 2020 to June 30, 2023.
The research reveals that SHEIN’s share in the French fast fashion market continues to expand, attracting many French consumers to flock to SHEIN for shopping. Not only young people are fond of SHEIN, but also consumers over 30 years old have gradually become their loyal customers.
According to specific data, in January 2020, customers over the age of 30 accounted for 41% of new customers in SHEIN. From December 2020, the new share of customers over 30 years old exceeded 50%, and by June 2023, the proportion was as high as 62%.
In addition, SHEIN, which has always been favored by young women, is now becoming popular among male consumers. The data shows that in recent years, the proportion of male customers shopping on SHEIN has increased significantly. From January 2020, 16% of new customers were men, and by June 2023, the proportion of male customers had reached 45%.
In fact, SHEIN’s development in the French market is very rapid, showing a strong momentum.
It is reported that from January 2020 to June 2023, SHEIN’s sales in the French market increased tenfold. Although the overall average order amount is stable at about 53 euros, it is still higher than Zara’s 43 euros and H&M’s 37 euros.
When the overall hosting mode became popular in the electric business, SHEIN chose to run counter to the trend and adopted the large-scale platform mode. They first tested the water in Brazil, then quickly expanded to the United States and Mexico, and announced that they would launch a comprehensive layout in Europe.
Frankly speaking, the European market is a key step for SHEIN to enter the international stage, and they focus on this huge market.
In May this year, SHEIN officially launched its headquarters in Europe, the Middle East and Africa in downtown Dublin, Ireland, which will become SHEIN’s strategic IT and operation center in these regions. In addition, SHEIN held many flash events in this region, which accumulated a lot of popularity for expanding the European market.
In addition to the rapid expansion in the European market, SHEIN has also turned its attention to the mid-to high-end market, which is an important part of their profit strategy. As the sinking market has been squeezed by platforms such as Temu, the mid-to high-end market has become the only way to find room for growth.
It is understood that SHEIN tries to enhance its appeal by attracting luxury brands such as Stuart Weitzman and Paul Smith to sell products on its platform. They also gradually increased the types of household appliances, pet products and high-end shoes.
Although SHEIN has been influenced by the environmental controversy caused by its fast fashion model, they are moving forward unswervingly. By the first half of 2023, they had achieved a record profit growth, showing a strong development momentum.
Post time: Aug-14-2023