Shein's annual sales in Australia have exceeded $1 billion for the first time, establishing it as a major player in the country's retail market. This success is attributed to the increasing popularity of ultra-cheap clothing offered by the company.
Shein's rise, along with that of competitor Temu, has negatively impacted local retailers. Department store group Myer and online marketplace Catch, which is being shut down by Wesfarmers due to losses, are examples of businesses affected by this intense competition.
Shein and its competitors offer a wide range of products, including clothing, toys, smartphones, and electronics, further broadening their reach and competitive edge.
Shein has recorded annual sales of more than $1 billion in Australia for the first time as the breakneck rise in popularity of ultra-cheap clothing turns the Chinese fast-fashion giant into one of the country’s biggest retailers.
The emergence of Shein and its biggest global competition, Temu, has hurt local retailers from department store group Myer to online marketplace Catch, which is being wound down by its owner, Wesfarmers, after years of losses. Shein, Temu and their more established rival Amazon sell everything from toys and clothes to smartphones and electronics.
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