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Growing low-cost suppliers: Chinese retailers such as Shein offer fashion, cosmetics and furniture from the lowest price segment
Photo: Stephanie Keith / Bloomberg / Getty Images
The e-commerce world is nervous. Established Western retailers are fighting against a new generation from China: In online shops from Temu or Shein, customers can buy fashion, cosmetics and furniture from the lowest price segment. Chinese retailers are now attracting millions of people in Europe and are even competing with the US giant Amazon. Since last fall, the Temu app has been almost permanently at number one in the download charts in the USA, and the brand is also slowly becoming better known in Germany.
The rise comes at a time when European e-commerce companies are holding back. In order to become profitable, many have to reduce costs – and slow down their own pace of expansion. This opens the door to attackers from China in Europe, warns Alexander Graf. The entrepreneur and founder of the Hamburg-based software company Spryker talks about the secret of the success of Chinese newcomer companies and about the problem of Western retailers.
manager magazin: Mr. Graf, Chinese platforms such as Shein or Temu are currently conquering online retail in Europe. What do they do better?
Alexander Graf: Most European shops are just too boring. There is only one search slot for customers, where they should already know pretty much what they want to buy. You can only filter by brand, fabric or price category. The promise we got 15 years ago to get a super personalized shopping experience just hasn't been delivered. Basically, all major online retailers in Europe have largely failed. They have not fulfilled this promise.
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