On 15 January, the market insights and analytics platform data.ai published its 2023 “State of Mobile” report. The report shows that fashion and lifestyle online retailer SHEIN is once again the global number 1 downloaded app in the shopping category, after topping the list in 2022. The same report shows that Temu, Amazon and Aliexpress are number 2, 3 and 9 in the category, respectively.
It is worth noting that SHEIN is different from most of the major retail platforms because of it has been building its own apparel brand since day one. SHEIN as a brand has been hugely popular, and according to some, the most popular brand in the world.
The same report shows that, however, in terms of active user, Amazon still comes on top. SHEIN has advanced 3 places to number 4 on the active user list, while Lazada, Aliexpress and Temu rank 5th, 7th and 12th. In the usage penetration list, on the other hand, SHEIN advances 4 places to number 4, while Lazada, Aliexpress and Temu rank number 5, 8 and 12, respectively.
Recently published data from consumer data provider Consumer Edge shows that SHEIN has the largest market share in the fast fashion sector in the US, at around 40%. The first 10 months of 2023 saw over 20% growth in revenue for the ultra-fast fashion brand compared to the same period in 2022. Jamie Salter of SHEIN’s partner Authentic Brands Groups said that the brand’s 2023 revenue had crossed the 30 billion USD hurdle.
Last November, SHEIN was reported to have secretly filed for a US IPO. Earlier this month, it was also reported that SHEIN has been seeking Beijing’s go-ahead to go public in America, while the US Securities and Exchange Commission has not yet responded to the filing. Even after moving its headquarters from Nanjing to Singapore in 2022, SHEIN still seems to suffer political jitters amid US-China tensions.
