Resources eCommerce AppsIn this article, we’ll share all the key Shein statistics and facts you need to know about the fashion company that has quietly become one of the biggest names in online shopping in the world.
Learn all you must know about Shein’s revenues and customer base products, lines of business, and much more.
What is Shein?
Shein (pronounced “She In”) is an eCommerce company founded in 2008 by Chinese billionaire Chris Xu in 2008. The company initially sold wedding dresses under the name SheInside before changing its name to Shein and shifting its focus to fashion-forward apparel in the year 2015.
Presently, Shein is an online-only fashion retailer that serves customers in more than 150 countries across the globe. They’re famous for their cheap prices, a wide variety of products, and an enticing appeal to Gen Z customers.
How Many People Use Shein?
By the end of 2022, Shein currently has more than 65 million users on its app and around 74.7 million users across the globe.
This is a significant increase over the last five years, jumping from 2.8 million in 2017 to the current figure of 2.8 million.
Shein has about 13.7 million users across the US. This is a significant increase of over 490,000 users in the year 2017.
How Much is Shein Worth?
At the time of 2022, Shein is valued at 100 billion dollars.
This is up from $5 billion in the year 2019. The company received modest investments in 2013 and 2018 before it received $500 million of financing in 2019 and another $1.5 billion by 2022.
How Many Orders Does Shein Get a Day?
The exact amount of orders Shein receives is not currently available publicly. But, we are able to give an approximate estimation.
Shein’s average value for orders is $75, as per ChinaTalk. If they earned $24 billion in revenues in 2022, it is estimated that they processed around 320 million transactions during the year. This is approximately 880,000 orders a day.
As a reference point, Amazon ships approximately 1.6 million packages every day, which puts Shein at just more than half the amount that is the global eCommerce top-performing company.
How Many Products Does Shein Sell?
Shein is estimated to hold more than 600,000 items available for sale at any time.
The number is significant in terms of growth, with the company releasing more than 300,000 new items each year. By contrast, H&M (another leading fast fashion retailer) is able to remove around 4500 new items per year.
TShein’s utilization of AI aids Shein’s production rate to identify patterns and develop new designs. There are also over 3000 suppliers who work with Shein.
As with Amazon, Shein owns a variety of private brand names. These brands are offered on the Shein platform (alongside Shein branded clothing) as well as independent websites. Shein currently has the following brands in its portfolio:
MOTF MOTF: MOTF is a “business-chic” clothing line providing high-end professional clothing for women.
The ROMWE brand: “dark pop” pieces and social styles that can be observed on platforms such as TikTok as well as Instagram.
EMERY ROSE is a “cottagecore” style clothing line that offers smart casual clothing for women.
CUCCOO is a discount women’s brand of footwear.
Luvlette is a woman’se sleepwear, underwear, and lingerie brand.
GLOWMODE: fashionable and versatile activewear designed for women.
Shein App Statistics
The Shein application for mobile devices is among the most popular shopping apps on the market currently. It is currently the second most downloaded app for shopping in both the App Store and Google Play.
The app generated over 18 million downloads by 2022, more than tripling annual downloads from 2019.
The highest number of new downloads for Shein’s Shein app occurred in May 2022. 2.1 million iOS downloads and 920,000 Android downloads in one month.
Similarweb reports that the Shein app is ranked 91st in all categories and ranks 5th in the variety of shopping within the US according to its use.
Why is Shein So Popular?
From the stats mentioned above, Shein is one of the top brands in the world of eCommerce and has an app that is among the most sought-after shopping apps worldwide.
How, then did Shein become a largely unnoticed brand to become the largest retailer of fast fashion worldwide, outdoing those like H&M, Zara, and ASOS?
One of the most important reasons to consider is the cost.
There are a variety of reasons for this that, including their internet-only approach to business (removing the expense of running physical stores). In addition to low-cost purchasing of products from Chinese producers, Shein is able to sell products at extremely cheap costs.
A snapshot of the prices offered for contemporary fashion on Shein
The typical product sold that is sold on Shein is stated to be priced at just $9. You can purchase quality items on Shein at a fraction of what you would buy from other retailers. This makes the Shein platform appealing to young, discount-hungry shoppers.
The platform also has an extensive selection of items, including over 600,000 designs accessible on the site, as we said previously. Their model of business and manufacturing partnerships allows the company to create new continuouslythings and beat the competitors in the fashion industry.
It’s not just about the variety of products available. It’s also a fact that the products Shein sells are always changing around and are always new.
Shein employs AI technology and a group of in-house designers to crank out new designs and stay ahead of current trends. However, the most important thing to remember is that they create 100-200 unique items of each product when they launch.
If the product isn’t well-known, they don’t produce anymore. If they do find a way to get on, they can make it mass-produced.
This allows them to provide the most diverse selection of products, with the ability to introduce 500-2000 new products every day and not be trapped by unsellable products from lines that aren’t selling.
Pandemic eCommerce Boom
The pandemic certainly played an integral role in the rise of Shein as well.
The number of users they had nearly tripled between 2019 and 2020 and then almost doubled in 2021. This was a time when increasing sales on online stores as customers were forced to remain at home, and all physical stores were shut down.
Google Trends has shown an increasing rise in the popularity of Shein’s searches in the past few months, well over competitors such as Zara as well as H&M.