There’s a new ecommerce king in town.
This week saw Amazon knocked off its perch as the number one downloaded ecommerce app. The challenger? International B2C fast fashion e-commerce platform, SHEIN.
According to the latest Provider Ranking of Shopping Apps by PYMNTS.com, SHEIN has taken over the top spot for downloaded ecommerce apps, overtaking Amazon and other widely recognised retail behemoths such as Walmart (3rd), Alibaba (tied 4th) and Nike (5th).
This monthly power ranking of shopping apps uses a proprietary combination of publicly available information plus app usage data, to which they claim to have access. Factors used to weight rankings also include channel coverage, Up-to-date downloads, monthly average users, sessions per user and average session length.
This power shift comes at a key time in the ecommerce landscape, with the global pandemic changing customer behaviour dramatically.
And it’s not like the big players haven’t noticed. Earlier this year, CommBank announced it had invested $A30 million in the online shopping startup Little Birdie, which brought its pre-launch valuation to $A130 million.
This activity is supported by a general optimism amongst global CEOs, who anticipate an economic boom off the back of the opportunity digital offers in a post-COVID world.
SHEIN may very well be providing the blueprint. With a deliberately youth-centric approach, the platform is known for exerting tight controls over its commerce process, with every facet of its production and supply chains — from prototype to procurement to manufacturing — under its direct supervision.
However, not much is known about the business beyond its publicly accessible exterior. SHEIN’s rise to the top was achieved in an unusually low-profile manner, with the platform and its executives actively avoiding media attention.
With Amazon boasting some of the deepest pockets in recorded history, just remember the sage words of one Omar Little: If you come at the King, you better not miss.