Despite being valued at $100 billion, Shein’s growth has been surprising. The company has cult followings and uses social media platforms to test the popularity of new products. Its policy against child and forced labour is highly visible, and it is proud of its zero tolerance for abuses. It is also committed to helping women everywhere, from farmers to workers, and uses social media to create socially conscious products. Those are all reasons that make Shein so appealing to consumers.
Shein’s valuation is up to $100 billion
The stock has been on a steep decline since April, when Shein’s valuation reached $100 billion. However, with the stock market rout and stalled Chinese economy, it might be a good time to get in on the action. Shein shares are trading for 30 per cent below their April value. This could be a sign that investors are getting wary of the company’s future prospects.
Shein has drawn criticism for its business practices, which include ripping off designers and violating labor laws. The company has also come under fire for selling items of racist and derogatory nature. However, its meteoric rise has also helped the company benefit from Trump administration tax policies, which have allowed it to undercut competition. Its recent funding round is expected to raise at least US$100 million. But it is unclear if Shein will have enough money to meet its expectations.
It has a cult following
The cult of Shein has made it difficult for fast fashion brands to keep up with their demands. For example, Zara and H&M typically order 2,000 items a month, but Shein does the opposite. Instead of following the latest catwalk trends, they choose to reproduce items they see on Instagram and TikTok. And, since Shein does not disclose its suppliers, it can’t prove that all of them comply with its code of conduct.
But Shein’s fast growth has brought several controversies. Several designers accused Shein of stealing their designs, and Levi Strauss and Dr Martens sued the brand for trademark infringement. Others complained that Shein was selling offensive products, such as handcuffed Black men and a swastika necklace. Environmental experts warned against the single-use nature of Shein products.
It uses social media platforms to test the appeal of new products
One of the newest ways SHEIN is using social media platforms is by creating a check-in system for users. By checking in on the app each day, users can earn points towards future purchases. Additionally, SHEIN’s check-in system includes items based on users’ search history and purchase history. This strategy has helped SHEIN gain a reputation for using innovative marketing tactics.
Social media marketing has been a key strategy for Shein for nine years. The company has developed a social media strategy that involves collaborating with influencers on Facebook, Twitter, and Pinterest. Likewise, Shein has used Facebook and TikTok to attract young consumers. The company rewards consumers for their actions through competitions, discounts, and other perks. It also uses social media platforms to test the appeal of new products.
It has a zero tolerance policy for forced and child labour
A report by the non-governmental organization Public Eye, published in November 2021, found that workers at Shein have no choice but to work overtime and under extreme pressure. Public Eye reported that workers in Shein work three shifts a day and only get one day off each month. This, despite the company’s zero tolerance policy for forced and child labour. The report also highlighted the lack of transparency about the company’s supply chain and code of conduct, which are supposed to prevent forced and child labour.
While Shein denies employing children in its factories, consumers are still suspicious that the brand is using forced labour. The company does not say how many children work in its factories, but it is likely that the company employs these workers in substandard conditions for short periods of time. The company’s practices have been the subject of many consumer complaints, but consumers cannot stop them from doing so. However, the company’s reputation is at stake, and the issue is worth investigating.
It offers coupon codes
Shein offers coupons and promo codes to its customers. The company ships its products in 1-3 business days and sends confirmation emails to their customers after the purchase. The website also offers a wide variety of products at a low price. Customers can sign up for the Shein loyalty program to earn points or cash back rebates on purchases. For further savings, it is a good idea to read customer reviews before making a purchase. Also, customers have 45 days to return items if they are not satisfied with them.
The company’s return policy is excellent, too. Customers have a 45-day period to return items without incurring any additional charges. The store also offers a free return label after contact. In addition, customers can use the interest-free AfterPay payment option to pay for returns. The online retailer is available in more than 220 countries, so the possibility of purchasing from abroad should not be a problem. Shein also offers coupon codes for discount shopping.
