Latest news with #CTFL
Zawya
08-08-2025
- Business
- Zawya
Shein and Temu outpace global retail giants in South Africa's fashion market
China-founded e-commerce retailers Shein and Temu have captured a combined 3.6% share of South Africa's retail, clothing, textile, footwear and leather (CTFL) market, accounting for R7.3 bn in sales in 2024, a report showed on Tuesday. Shein entered the market in 2020, followed by Temu in 2024. Both have disrupted the local retail landscape through aggressive pricing, strategic marketing, and using tax loopholes that initially gave them a competitive edge over local retailers. Their appeal to price-sensitive consumers has impacted local retailers, who urged regulators last year to close the tax loophole, which eventually ended last year. The Localisation Support Fund (LSF) report found that domestic retailers' market share of CTFL declined from 75.3% in 2011 to 74% in 2024. Meanwhile, international brick-and-mortar brands like H&M, Zara, and Cotton On hold a combined 3.4% share. Shein and Temu now command a combined 3.6% share of the CTFL market, and 37.1% of South Africa's e-commerce CTFL market, with Shein alone accounting for 28% of online ladies' CTFL sales. "Those (international) retailers have acquired this market share over a period of 13 years, and Shein and Temu have managed to match and surpass this in just a five-year period," said Sean Mercer, principal consultant at consulting firm BMA.
Time of India
06-08-2025
- Business
- Time of India
Shein and Temu outpace global retail giants in South Africa's fashion market
China-founded e-commerce retailers Shein and Temu have captured a combined 3.6% share of South Africa's retail, clothing, textile, footwear and leather (CTFL) market, accounting for 7.3 billion rand ($405 million) in sales in 2024, a report showed on Tuesday. Shein entered the market in 2020, followed by Temu in 2024. Both have disrupted the local retail landscape through aggressive pricing, strategic marketing, and using tax loopholes that initially gave them a competitive edge over local retailers. Their appeal to price-sensitive consumers has impacted local retailers, who urged regulators last year to close the tax loophole, which eventually ended last year. The Localisation Support Fund (LSF) report found that domestic retailers' market share of CTFL declined from 75.3% in 2011 to 74% in 2024. Meanwhile, international brick-and-mortar brands like H&M, Zara, and Cotton On hold a combined 3.4% share. Shein and Temu now command a combined 3.6% share of the CTFL market, and 37.1% of South Africa's e-commerce CTFL market, with Shein alone accounting for 28% of online ladies' CTFL sales. "Those (international)retailers have acquired this market share over a period of 13 years, and Shein and Temu have managed to match and surpass this in just a five-year period," said Sean Mercer, principal consultant at consulting firm BMA.
Reuters
06-08-2025
- Business
- Reuters
Shein and Temu outpace global retail giants in South Africa's fashion market
JOHANNESBURG, Aug 5 (Reuters) - China-founded e-commerce retailers Shein and Temu have captured a combined 3.6% share of South Africa's retail, clothing, textile, footwear and leather (CTFL) market, accounting for 7.3 billion rand ($405 million) in sales in 2024, a report showed on Tuesday. Shein entered the market in 2020, followed by Temu in 2024. Both have disrupted the local retail landscape through aggressive pricing, strategic marketing, and using tax loopholes that initially gave them a competitive edge over local retailers. Their appeal to price-sensitive consumers has impacted local retailers, who urged regulators last year to close the tax loophole, which eventually ended last year. The Localisation Support Fund (LSF) report found that domestic retailers' market share of CTFL declined from 75.3% in 2011 to 74% in 2024. Meanwhile, international brick-and-mortar brands like H&M ( opens new tab, Zara ( opens new tab, and Cotton On hold a combined 3.4% share. Shein and Temu now command a combined 3.6% share of the CTFL market, and 37.1% of South Africa's e-commerce CTFL market, with Shein alone accounting for 28% of online ladies' CTFL sales. "Those (international)retailers have acquired this market share over a period of 13 years, and Shein and Temu have managed to match and surpass this in just a five-year period," said Sean Mercer, principal consultant at consulting firm BMA. ($1 = 18.0270 rand)
Business of Fashion
05-08-2025
- Business
- Business of Fashion
Shein and Temu Outpace Global Retail Giants in South Africa's Fashion Market
China-founded e-commerce retailers Shein and Temu have captured a combined 3.6 percent share of South Africa's retail, clothing, textile, footwear and leather (CTFL) market, accounting for 7.3 billion rand ($405 million) in sales in 2024, a report showed on Tuesday. Shein entered the market in 2020, followed by Temu in 2024. Both have disrupted the local retail landscape through aggressive pricing, strategic marketing, and using tax loopholes that initially gave them a competitive edge over local retailers. Their appeal to price-sensitive consumers has impacted local retailers, who urged regulators last year to close the tax loophole, which eventually ended last year. The Localisation Support Fund (LSF) report found that domestic retailers' market share of CTFL declined from 75.3 percent in 2011 to 74 percent in 2024. Meanwhile, international brick-and-mortar brands like H&M, Zara and Cotton On hold a combined 3.4 percent share. Shein and Temu now command a combined 3.6 percent share of the CTFL market, and 37.1 percent of South Africa's e-commerce CTFL market, with Shein alone accounting for 28 percent of online ladies' CTFL sales. 'Those [international] retailers have acquired this market share over a period of 13 years, and Shein and Temu have managed to match and surpass this in just a five-year period,' said Sean Mercer, principal consultant at consulting firm BMA. By Siyanda Mthethwa; Editors: Nqobile Dludla and Alexandra Hudson Learn more: South Africa Will Impose New Tax on Fast Fashion Parcels The country's tax authority will soon impose a tax on cheap packages to protect the local clothing industry from international e-commerce competitors like Shein.
Yahoo
05-08-2025
- Business
- Yahoo
Shein and Temu outpace global retail giants in South Africa's fashion market
By Siyanda Mthethwa JOHANNESBURG (Reuters) -China-founded e-commerce retailers Shein and Temu have captured a combined 3.6% share of South Africa's retail, clothing, textile, footwear and leather (CTFL) market, accounting for 7.3 billion rand ($405 million) in sales in 2024, a report showed on Tuesday. Shein entered the market in 2020, followed by Temu in 2024. Both have disrupted the local retail landscape through aggressive pricing, strategic marketing, and using tax loopholes that initially gave them a competitive edge over local retailers. Their appeal to price-sensitive consumers has impacted local retailers, who urged regulators last year to close the tax loophole, which eventually ended last year. The Localisation Support Fund (LSF) report found that domestic retailers' market share of CTFL declined from 75.3% in 2011 to 74% in 2024. Meanwhile, international brick-and-mortar brands like H&M, Zara, and Cotton On hold a combined 3.4% share. Shein and Temu now command a combined 3.6% share of the CTFL market, and 37.1% of South Africa's e-commerce CTFL market, with Shein alone accounting for 28% of online ladies' CTFL sales. "Those (international)retailers have acquired this market share over a period of 13 years, and Shein and Temu have managed to match and surpass this in just a five-year period," said Sean Mercer, principal consultant at consulting firm BMA. ($1 = 18.0270 rand) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
