It is exposed that the sales of SHEIN, a Chinese cross-border e-commerce giant, soared to US $16 billion in the first half of the year, which is about to be tough with pinduoduo.

Thanks to CTOnews.com netizen LL J for the clue delivery! CTOnews.com Sept. 4, according to 36 krypton, SHEIN's sales exceeded $16 billion (about 110.72 billion yuan) in the first half of 2022, a year-on-year growth rate of more than 50%. With the arrival of the peak season, SHEIN is expected to meet its annual sales target of $30 billion (about 207.6 billion yuan) ahead of schedule, a year ahead of schedule.

Founded in 2012, SHEIN is a global fast fashion e-commerce platform that directly serves consumers in more than 150 countries and regions around the world. It has operating centers in Guangzhou, Singapore, Los Angeles and other major markets, covering clothing, footwear, makeup, home furnishings and other categories.

PYMNTS's ranking of shopping apps in March showed that SHEIN once again surpassed Amazon and Wal-Mart to return to the top of the list to become the world's most downloaded shopping App.

CTOnews.com learned that pinduoduo, another major domestic e-commerce giant, has also joined cross-border e-commerce, recently launched a cross-border e-commerce platform Temu, focusing on cost performance.

According to Xinyan Financial observation, in the product classification, there are many categories of goods on Temu, including pet products, clothing, jewelry, daily necessities, children's products and so on. But the number of products in each store is not large, in addition, like SheIn, Temu is cost-effective. The price of women's wear in summer is less than $20, while the price of necklaces and rings is in the range of $5 to $10.