(Yicai Global) June 26 -- Chinese fast fashion retailer Shein recently unveiled a program named AcceleraShein to support 10,000 sellers to achieve USD1 million in annual sales over the next three years.
AcceleraShein will offer a system of support to all marketplace vendors, including training and upskilling, seller benefits and incentives, to help them achieve their business goals.
The new program will gradually expand its focus from popular categories, including shoes, bags, jewelry, beauty and make-up, household products, computers, communications and consumer electronics supplies, and sports products, to sellers of all categories, the Nanjing-based firm said on its WeChat account today.
The program will also help 100,000 small and mid-sized vendors achieve USD100,000 in annual sales and improve their competitiveness in the global market.
Marketplace sellers will also have access to Shein’s customized incentive programs to cut the cost of doing business, including no platform fees and limited period waivers of commissions.
Formed in October 2008, Shein serves consumers in more than 150 countries and has operation centers in Southeast Asia, South America, and Japan.
The global e-commerce market will continue to grow with a compound annual growth rate of 15 percent from 2020 to 2027, Shein predicted, noting the market will grow to USD7.4 trillion in 2025 and over USD27 trillion in 2027.
Editor: Peter Thomas