US fast-fashion spending is dominated by SHEIN and Uniqlo.
As luxury spending declines, fast fashion becomes more popular in the US, according to new research from Consumer Edge, a global provider of consumer transaction data. After rising by 15% in 2022, the direct-to-consumer luxury sector saw a 7% decrease in 2023, in contrast to the 2% growth in US fast fashion spending. Value-priced SHEIN, a Singaporean company, outperforms rivals in the US fast-fashion market, holding a commanding 40% of …