Many people may not have heard of this brand. If you want to know about SHEIN, you should start with the founder Xu. In 1980s, he was born in an ordinary family in Zibo. After graduating from the Department of International Trade of Qingdao University of Science and Technology, I was responsible for SEO (search engine optimization) in a cross-border e-commerce marketing service company in Nanjing. During this period, he also co-founded Dian Wei Information Technology Co., Ltd. ..
Around 2008, the cross-border e-commerce industry in China just started, and wedding dresses costing tens of yuan became a "stepping stone". Xu also wanted to develop in this direction, and as a result, he had differences with the two partners. So he started ZZKKO with his team "solo".
After successfully earning the first pot of gold, Xu gradually gave up the wedding dress business with low repurchase rate and devoted himself to a wider range of high-frequency women's wear categories, and changed his name to SHEIN (later renamed SHEIN, which is convenient for consumers to search and remember). In recent years, it has extended its business to home, accessories, beauty, men's wear, children's wear and other categories.
Today, SHEIN's products have been exported to more than 220 countries and regions, and have entered many markets such as North America, Europe, the Middle East, India, Southeast Asia and South America. Last year, the sales revenue was close to US$ 65.438+0 billion (about RMB 64.4 billion), achieving an increase of over 654.38+0.000% for eight consecutive years. In the first quarter of this year, the average monthly sales reached $65.438+$200 million. Measured by its own brand sales, it is the world's largest pure online retail fashion company, surpassing H&; M and Inditex group (Zara parent company).
In 20021year, among the top 50 brands of BrandZ in China, SHEIN beat famous brands such as Tencent, Anke Innovation, Tsingtao Brewery and DJI, ranking 1 1. At the same time, it was selected into China unicorn enterprise research report 202 1 and Nanjing unicorn enterprise list 202 1.
Why can SHEIN catch fire overseas? Mainly because the positioning is cheap. $6 halter top, $9 mini skirt and $65,438+02 dress ... The product price is generally below $20, and sometimes it is promoted, even as low as $2. Some users said, "I bought the same H& AMPM I bought at H & ampm, but the price was cheaper."
The reason why it is affordable and fashionable depends on the strong domestic supply chain system and more than 2,000 suppliers. The production schedule of SHEIN is only 10- 15 days, while the average span disclosed by Zara et al. is three weeks. Last year, more than 654.38+0.5 million products were added, exceeding Zara's annual SKU in less than two months.
It is worth mentioning that users can not only buy cheap goods on the platform, but also gain points and save money by logging in to the application, watching live broadcasts and participating in fashion design competitions. This kind of experience is like a game, which makes people want to stop.
Xu's early SEO experience also played an important role in the construction of SHEIN. Through the self-developed "tracking system", we can capture the product maps of various clothing retail websites and analyze the current fashion trends. Summarize and analyze the data of flower pattern, color, price change, fabric and style, and then directly feed back to the factory to order materials for production. The whole process basically saves all the middleman links.
In addition, Xu Tianyang started with KOL very early, and established a marketing model recommended by online celebrities, and cooperated with celebrities such as Katy Perry, nick jonas and Hayley. Up to now, SHEIN has more than 20 million fans on Instagram alone and more than 65,438+million fans on Facebook. The video broadcast volume on Tik Tok is nearly 965.438+0 billion.
It must be said that with this efficient marketing and low-price sales model, SHEIN has successfully achieved the dimension reduction blow of Zara and H & ampm. They plan to surpass Zara in sales within two years, "proving that online is more competitive than offline". According to informed sources, SHEIN is developing rapidly in emerging markets, especially in Southeast Asia. If the growth target of 120% can be achieved, it may be achieved this year.