Estimations revealed that the fast fashion giant Shein generated an annual revenue of **** billion U.S. dollars in 2023. This is a significant increase since 2016, when the company supposedly reached a revenue of *** million U.S. dollars. Shein's benchmarks Among unicorn companies, or privately held companies with a market value at least *** billion U.S. dollars, Shein ranked in the top five with the highest valuations worldwide, totalling ** billion U.S. dollars in 2024. As a direct to consumer e-commerce unicorn, the company was ranked first as of December 2023. Additionally, when looking at the ranking of leading online stores in the fashion segment, Shein ranked second globally, further proving their widespread success as an e-commerce business. Who likes Shein? Who likes Shein? By the end of 2023, shein.com was the most popular fashion and apparel website worldwide by share of visits, followed by Nike and Macy’s websites. The age group that seemed to prefer using shein.com the most were the consumers between 25 and 34 years old, which accounted for over ** percent of global site visits. Of these consumers, the majority were women, making up over ** percent of visits.

The online revenue of shein.com amounted to US$33,434.8m in 2024. Discover eCommerce insights, including sales development, shopping cart size, and many more.

Most downloads of Shein's mobile app occur on iOS devices. In February 2025, the fashion app registered roughly *** million downloads from iPhones and iPads, while Android devices accounted for about ************** downloads that month. Shein's mobile store is among the most downloaded shopping apps in the United States. Global popularity in the industry Since its rebranding in 2015 from SheInside to Shein, the Shein brand has gained notoriety around the world. With an estimated revenue of **** billion U.S. dollars in 2022, the fast fashion brand ranks among the top fashion e-commerce online stores in several countries. In the United States, shein.com ranked third among the top online stores in the fashion segment. While in the neighboring North American market of Canada, and across the Atlantic in Spain, Shein was the number one leading fashion online store. The profitable controversy of fast fashion As fast fashion continues to profit as a result from cheap costs and a wide variety of options, it is not without controversy. Despite ***** in *** cross-border online shoppers believing e-retailers should be responsible for paying for sustainability, fast fashion brands like Shein tend to have low levels of transparency when it comes to their environmental impact. While fast fashion attracts millions of shoppers, second-hand e-commerce offers another online method for shoppers in need of more eco-friendly clothing consumption.

In 2024, the online fashion retailer Shein generated a GMV of ** billion U.S. dollars, soaring from only *** billion U.S. dollars in 2018. Founded in 2008 in Nanjing, China, Shein is one of the world's largest online fashion retailers and a leading unicorn.

Shein's market share in the United States more than doubled between March 2020 and March 2022, going from approximately ** to ** percent. This market share gain occurred at the expense of nearly all other fast fashion companies in the United States, as all except Zara saw their market share dwindle during that time period. Most notably, H&M's market share in the U.S. decreased ** percentage points between March 2020 and March 2022. By November 2022, Shein held ** percent of the U.S. fast fashion market. Fast fashion e-commerce As the fast fashion industry continues to evolve, Shein is not the only e-commerce pure player disrupting the overall landscape. Companies such as ASOS and Zalando, for example, can turn out collections with remarkable speed, providing an edge against their brick-and-mortar competitors. From 2020 to 2022, net sales at ASOS.com are forecast to increase by more than ****million U.S. dollars. Over the same time period, Zalando's net sales are forecast to increase by nearly one million U.S. dollars. The rise of Shein Shein may not be the only e-commerce pure player changing the landscape of the fast fashion industry, but it is definitely the most prominent one. According to estimates, the fast fashion giant has seen its revenue increase by more than ** billion U.S. dollars since 2016. Maybe even more impressive is the fact that Shein.com was the second fastest growing e-commerce website in the world in 2022, and was the only fashion company to crack the list.

Chinese discount ecommerce app Temu has taken the United States and United Kingdom by storm, as the newest Chinese-based challenger aiming to saturate the market with products at under half the price...

As of September 2022, the mobile app of e-commerce site Wayfair saw the highest average revenue per user (ARPU) worldwide, with users spending approximately *** U.S. dollars on the platform. Fast-fashion Shein ranked second, with users spending approximately *** U.S. dollars on average, while ASOS ranked third with an ARPU of around *** U.S. dollars as of the examined period.

In 2024, retail e-commerce in Canada was forecast to generate over **** billion U.S. dollars in revenues. According to estimates, this figure is projected to increase to *** billion U.S. dollars by 2029. Successful e-commerce segments in Canada Canada's booming e-commerce sector owes more than half of its retail sales to two particularly lucrative segments: fashion and electronics, which captured ** and ** percent of all e-commerce retail sales in Canada in 2022, respectively. With nearly ** billion U.S. dollars in e-commerce net sales, Amazon was the leading online store in Canada in 2021, outperforming competitors like Walmart and Costco by an impressive margin. Ranking second, walmart.ca generated around **** billion U.S. dollars in e-commerce net sales that year. Fashion leads the way Fashion proved to be a successful e-commerce segment in many countries around the world, and Canada was no exception, as the most popular online stores in the fashion segment raked in millions of dollars in e-commerce net sales, led by gapcanada.ca with *** million U.S. dollars in 2021. Like many other countries in the world, Canada's fashion e-commerce sector was also disrupted by a Chinese newcomer that catapulted itself to the centerstage of the fast fashion world: Shein was the most downloaded fashion and beauty shopping app in Canada in June 2022, with its ******* monthly downloads overshadowing those of competitors. In comparison, long-established fast fashion titan Zara only amassed ****** downloads that same month.

Chinese online retailer Temu was the most downloaded shopping app worldwide in 2024. The application counted almost *** million downloads from the Apple App and Google Play store. Temu's main rival, Shein, was the second-most downloaded shopping app that year, with roughly *** million downloads. From China to the world Since its launch in September of 2022, Temu has achieved remarkable success, with its monthly gross merchandise volume (GMV) surging by over *** million U.S. dollars in less than a year. Similarly, its competitor, Shein, continues to experience exponential annual revenue growth. With Temu ascending to global stardom and Shein consolidating its dominance, Chinese e-commerce giants are actively looking to conquer the world of online sales. Mobile taking the upper hand In 2024, mobile commerce accounted for ***************** all global online retail sales. Despite its significant traction, the zenith of mobile commerce remains on the horizon, with forecasts indicating a sustained growth in contribution to total e-commerce sales in the coming years. Across various nations, over ** percent of internet users already participate in weekly mobile commerce transactions, surpassing the global average.

In 2024, the fashion marketplace Shein was the most downloaded fashion and beauty app on mobile devices in the United Kingdom (UK), with around ************* downloads that year. The second-hand clothing app Vinted followed in the ranking with around *********** downloads. Vinteds remarkable success In 2022, around three in four consumers in the United Kingdom were aware of Vinted, the country's third most popular online second-hand shop. Vinted is a Lithuanian online vintage shop that has seen massive success in neighboring European countries. In 2022, Vinted generated over *********** euros in revenue, up from ********** in 2017. The Vinted app was downloaded over ************* times worldwide in April 2023. Next.co.uk leads by traffic In the United Kingdom, next.co.uk is the most favored fashion website. In May 2022, the fashion site attracted more than ********** monthly visitors. Additionally, the UK-based apparel store is dominating the search visibility on Google UK, compared to other online fashion brands. During the second quarter of 2023, Next had the highest share of voice, making up around ** percent.

With a market cap of about 9.3 billion U.S. dollars, VIP Shop stood as the leading fashion e-commerce company worldwide. According to data compiled in June 2023, the Chinese company stood ahead of competitors Zalando, The Hut Group, and Revolve. In addition, the aforementioned brands also featured as some of the fastest-growing fashion e-commerce retailers worldwide between 2021 and 2023.

The reach of online fashion Globally, the fashion e-commerce market has reached an overall market value of 781.5 billion U.S. dollars. Estimates predict that the industry will continue to grow to 1.6 trillion dollars within the next six years. Spearheading the industry with their massive economical power, China and the United States make up a significant portion of the fashion e-commerce industry, accounting for over 207 billion U.S. dollars and 182 billion U.S. dollars in revenue in 2023, respectively.

China and the United States: fashion shopper favorites With the prevalence of online fashion shopping, it is no surprise that the largest share of rural China’s online retail sales were generated through the purchasing of clothing and textile products. Online retail marketplaces that sell a plethora of fashion items made up the list of leading retail brands in the country. At the top of the list was Pinduoduo, the parent company of the recently launched Temu – which has become a hotspot for online marketplace and fashion shoppers in the United States. In 2023, Temu surpassed Shein as the most downloaded shopping app in the U.S.

In 2024, the top e-commerce categories in Denmark were clothing, sports, and leisure equipment, purchased by around 73 percent of online shoppers. Tickets for events followed, with 53 percent of shoppers, and fast food and ready-made meals from eateries with 52 percent. E-commerce in Denmark Denmark's e-commerce market has grown steadily since 2017. In 2022, e-commerce retail sales generated over eight billion euros. Of the respective sectors within it, the online fashion market brought in the most revenue. That year, fashion e-commerce generated 2.06 billion euros, followed closely by electronics. By 2027, e-commerce retail revenue is expected to hit 14 billion euros. As the e-commerce industry in Denmark continues to expand, fashion and electronics are forecast to remain key players driving most of the market's growth. Sites and apps In Denmark, elgiganten.dk was the most popular shopping website in 2022 in terms of website visits. Headquartered in Copenhagen, Elgiganten sells consumer electronics and white goods. As 91 percent of shoppers repurchased from the merchant that year, the retailer was among the most repurchased sites in the country. However, the company did not rank as well regarding app downloads. In fact, it was not among the top 20 shopping apps of 2022. At the top of that list was grocery retailer Netto, with over 430,000 app downloads, followed by Shein, with around 334,000 app downloads.