While most adult readers of an economic situation report such as this one would be forgiven for never having heard of a company named "Shein", there's a good chance the young women in their families have. The Chinese clothing retailer and manufacturer Shein has exploded in growth over the past year and half.
Google data shows it surpassed other major online brands like H&M, Zara, and Asos. Shein specializes in what analysts call "fast fashion"—a term meaning designs from fashion shows and runways that it then makes available to the public almost instantly. Shein's tight control of production and relatively small batch manufacturing of selected items tied with its super-low prices results in a powerful feedback loop with social media influencers. On a recent day, an astonishing 8,895 new products were added—and 9,634 were added the day before!