40% of Forever21 shoppers have already been spending at the company’s newest partner, Shein, over the past year, according to Earnest Analytics spending data. This figure has been relatively consistent over the past three years, but is up from 23% in the twelve months ending July 2020.
In contrast, a decreasing amount of Shein shoppers have been shopping at Forever21 over the past four years, from about a third in 2020 to just under 20% today.
The two companies have recently entered a partnership with the goal of tapping each other’s customer base. Shein’s growth slowed last year from an impressive multi-year rise to become the market leader in US Fast Fashion from its base of digital customers, no doubt grabbing Forever21 shoppers and accounting for the increasing overlap. Its partnership with Forever21 gives them access to primarily a brick-and-mortar base, as 90% of spending still happened in-store vs. online over the past three years, according to Earnest data.
Access chart in Dash.