Digital is not an expertise, it’s just the way business is done today.
I’ve written about SHEIN before as one to watch, and yet again as analysts dig deeper into their model we can see that this company is really setting the benchmark in running a data-driven, direct-to-consumer, business – using all the tools of the trade today, beating out not only Zara and H&M, but also Amazon.
- Broadest product selection: THe notion of endless aisle is much discussed, but the reality of no physical retail means that they can hold one of the broadest range selections in the world, making sure that there is always something for everyone.
- Dynamic pricing: Between price-matching online and the use of discount codes, they keep the business flowing even whilst some of their (slower) fast-fashion colleagues are struggling.
- Real-time product development: Using consumer data they keep their agile, small-batch production line moving with faster than fast-fashion.
Read more on RetailDive: How Shein makes ‘fast fashion’ look slow.
And all this added to their ninja-level use of digital marketing that I talked about in a previous post:
We should all be watching and learning from these guys, with TikTok in the social/influencer/marketing space working it’s way into eCommerce, and SHEIN setting the new benchmark in product development and eCommerce. Chinese software is eating the world.