Shein launches "Shein Exchange" resale program! Is second-hand clothing the next hot spot?

It is learned that according to foreign media reports, Chinese online fashion giant Shein has launched a resale program called "Shein Exchange" to encourage users to buy or resell second-hand items on its platform.

The project was created in partnership with resale technology platform Treet, and Shein is currently piloting it in the United States with plans to expand it globally in 2023, the report said.

For sellers, it will be easier to start a resale business on Shein. Sellers can access the "Exchange" feature through the Shein app to quickly list items. Shein will provide sellers with customers' previous purchase records to help them simplify the resale process.

For buyers, customers who purchase second-hand products on Shein may receive points or cash back. Once an order is placed, Shein will send a prepaid shipping label to the seller.

Adam Whinston, Shein's global head of environmental social governance (ESG), said that Shein Exchange aims to make reselling as easy and convenient as buying new things, while creating a circular consumption craze within the Shein community. Shein calls on retailers to use their growing community influence to build resale businesses.

It is learned that Shein's position in the US market has been continuously improving, especially among teenagers. According to a survey by Piper Sandler Companies, Shein was the second most popular online shopping platform for American teenagers in the first half of 2022.

According to the Wall Street Journal, Shein is planning to build three distribution centers in the United States to greatly shorten the shipping time of goods. In addition, the retailer is also preparing to carry out large-scale recruitment in the United States in the next few years.

According to the forecast of OfferUp, a second-hand trading platform in the United States, the scale of the second-hand e-commerce trading market in the United States will reach 178 billion US dollars in 2022. In the next five years, this market will usher in rapid growth. By 2027, the market size will increase to 289 billion US dollars.

Editor ✎ Nicole/

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