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Online fast-fashion retailer Shein and its newer rival Temu are in a race to win shoppers’ attention for their inexpensive China-made goods. Shein, originally founded in China, relies on drop-shipping directly from its extensive network of China-based suppliers.
My Gucci Marmont bag from Vestiaire Collective has shipped. Bagged a pre-loved bargain, supported circular fashion and didn’t even set foot in a store. Single Mum school drop off duties for my Gen Z daughter before hitting the desk for work. That’s my dopamine ‘shopper’s high’ for the day. Definitely pre-Covid. Time to get up.
They sourced respectively from a large account aggregator, like a budgeting app, and part of a POS system in the US. In the first three months, for context, it had roughly as many weekly active users in the US as the largest fastfashion brand, Shein, and within 10 months had surpassed Shein in sales. Scot: [30:15] Cool.
Many consumers say they want to buy sustainably sourced clothing but fastfashion retailers like Zara and H&M are among the largest clothing retailers in the world. When Kanye West launched the Yeezy Boost 350 sneaker with Adidas he did so with a limited release drop. Let’s take the sustainability movement. I said, "Really?
Jason : Made to Order apparel business > 9 figures Yes Retailer offers viable health alt insurance option to consumers No Grocery E-Com > 10% someone deploys(not pilots) MFC Yes Amazon Shopify Competitor (shipping solution) No Retail Media > $20B Yes. Scot: [19:42] Boom drops the mic walk. Jason Total Score: 3 of 5.
No Live Streaming Commerce Still not meaningful in US in 2023 (less than 5% of social commerce in US) Yes Jason Total Score: 3 of 5 Scot : Amazon uses this 2022 setback/slowdown/reversion to the mean for a public resetting of expectations, but behind the scenes they take share and raise the bar on shipping. Scot: [28:09] Yeah.
Scot: [3:46] I feel like we should create a new word for this I’ll work on it in the vein of a ship again yeah that’s just boring I don’t know. Properly and consistently I can tell you that the person assigned to fill out the surveys is generally not the most senior accountant at the it’s usually not the CFO.
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