WHAT HAPPENED
35bn European revenue of the Chinese shopping app Shein fell in the second quarter by fourteen percent to €3. This is evident from the first quarterly report that the e-commerce platform has published since it was listed on the stock exchange earlier this month. The European revenues of apps such as Temu, Shein and AliExpress are being closely watched, because since 1 July the shops have been subject to import duties of €3 per product category ordered. Shein’s figures indicate that the levy is working and is leading to fewer orders. Turnover figures in themselves do not yet say everything, because Shein also states that it has increased product prices in Europe.
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