Slovenčina 
Čeština 
Shqiptare 
Österreich 
België 
български 
Bosanski 
Українська 
Eesti 
Македонски 
Türkçe 
Deutsch 
Dansk 
Español 
Français 
Suomi 
Ελληνικά 
Hrvatski 
Magyar 
Schweiz 
Irish 
Italiano 
Lietuvių 
Latviešu 
Nederlands 
Norsk 
Polski 
Português 
Română 
Srpski 
Slovenščina 
Svenska 
Shein’s business model underwent a significant change in 2023. The retailer started selling goods from independent sellers on its platform in addition to its goods. This change mirrored the successful approach taken by other e-commerce giants, turning Shein from a pure retailer into a hybrid marketplace.
The share of third-party sellers grew impressively from 9.8% of total sales in 2023 to 17.4% by 2025, less than two years after launching the marketplace. This quick growth shows that external sellers have rapidly found success with Shein’s customers.
Source: ECDB
How Does Shein Compare to Its Competitors?
Shein is positioned in the middle of well-known fashion marketplace platforms. In 2025, Zalando, a German company that started its marketplace strategy in 2018, had a third-party share of 24.1% GMV.
British ASOS, on the other hand, trails behind with a mere 10.9% share, even though it has a longer history with the marketplace model.
Absolute numbers are Shein’s real strength. Shein far outperforms its European rivals, with a total GMV of $60.3 billion in 2024 compared to Zalando’s $14 billion and Asos’ $4.4 billion.
The disparity is even more noticeable when these numbers are converted into third-party sales value. External sales generated approximately $6.9 billion on the Shein platform in 2024, more than twice as much as Zalando ($3.3 billion) and more than 20 times Asos’ ($330.5 million) value.
Challenges and the Future
Temu and other pure marketplace models, where all sales originate from third-party sellers, continue to pose a serious threat to Shein despite its impressive numbers.
However, Shein’s rapid adaptation and development of its marketplace model indicate that the company may be able to increase its market share in the global fashion industry. It is still unclear if Shein will be able to strike a balance between its own goods and those of third parties to maximise its competitive edge.
Shein, with its extensive reach and agility in adapting to new business models, continues to be a formidable force for competitors in the global fashion e-commerce industry.
