BRIEYA MOORBERG WRITES — The Covid 19 pandemic decreased the mobility of millions of people to shop in person. Since then, ecommerce has been growing in popularity, particularly for Chinese online. fashionShein. Founded by China’s Xu Yangtian in 2008, Shein has grown increasingly popular since the beginning of the pandemic, pulling in an estimated $10 billion dollar revenue in 2020 alone, according to Coresight Research.
This e-commerce site is growing in popularity due to its ability to produce quickly fashionIn less than a week, Shein added nearly 3,000 new styles to its online marketplace weekly at affordable prices. Shein has a new, efficient business plan that is different from other online ecommerce companies. It is more efficient in its production and revenue goals. According to founder Xu, the company’s success is linked to the close relationship it has with suppliers-achieved, namely, by paying them on time. This not only encourages consistency and efficiency but also ensures manufacturers are paid on time.
Unlike most western brands such as Zara, which outsources its products, and which can in turn take up to 5 weeks to produce, Shein’s business model eliminates the long wait time. How? Bloomberg says that Shein requires manufacturers not to be more than five hours away from China’s sourcing hub. The turnaround time for production is approximately 10 days. This business model allows for current styles of clothing to be manufactured and ready for sale remarkably quickly.
Shein’s production rate has made it the largest online fashionThe store is the most downloaded e-commerce app in the world, surpassing Amazon this year. Many people have questioned whether the company can produce large quantities of clothes in different styles so quickly. However there have been no official reports of forced labor or child labour. This is despite the fact that the company regularly evaluates human trafficking as well as the supply chain issues of slavery.
Shein, a multi-billion-dollar company, may revolutionize global fast food fashionThe world has surpassed all competitors in terms of gross domestic products. And, as our world is becoming more and more technologically advanced, Shein’s online only store has proven itself way ahead of the game, by catering solely to online consumers and by producing the current trends in a matter of days.
The speed of fast-made fashion may be important, but it’s not everything. Smart thinking and satisfying customers’ needs also matters.