China e-commerce platform is consolidating its position in the Spanish market. The sharp increase in sales and average consumption of consumers proves this point. A recent study by Fintonic, a financial services company, reveals the rising trend of this new era.
According to Fintonic’s analysis, China’s e-commerce platform is experiencing a substantial growth in Spain. Among them, Shein’s sales in the first half of 2023 increased by 40% compared with the same period of last year.
Fintonic’s data was obtained from 170,000 anonymous Spanish users. This analysis not only highlights the growth of Shein, but also shows the rise of other platforms such as Miravia and Temu. So, what is the average consumption of Spanish customers on these platforms?
In the second quarter, the average consumption of these platforms was 80 euros. Among them, the average consumption of Shein is 50 euros, Miravia is 30 euros, Temu is 24 euros, and Aliexpress is 19 euros. From this perspective, the average purchase amount of traditional giant Amazon is 35 euros, which highlights the remarkable growth of e-commerce platforms in China.
In terms of returns and adjustments, Shein’s return rate is over 9%, which is similar to that of Amazon. On the other hand, the return rate of Miravia, Temu and Aliexpress remained around 6-7%. It is worth noting that Aliexpress has managed to reduce its ratio, especially when Inditex has started to charge a return fee.
From the perspective of consumers, buyers in Catalonia and Andalusia Autonomous Region are more concentrated on these platforms. In terms of age, Shein mainly attracts young people aged 18 to 24, while Temu has a large number of shoppers aged 55 to 65.
Post time: Sep-04-2023