Restricting trade is not the best way to make Chinese retailers meet product standards
European and American retailers are anxiously looking over their shoulders. Ultra low-price clothing and homeware from online Chinese marketplaces have recently eaten into their market share. Shein, which specialises in “fast fashion” is rapidly closing in on traditional clothing outlets Zara and H&M. Temu, which sells everything from discount decor to electronics, boosted its profile after running ads during this year’s Super Bowl.
The strategy gives consumers — especially at a time when they are stretched by a cost of living crisis — access to cheaper products and wider choice. Retail competition also remains sturdy. Indeed, while the Chinese retailers compete well on price, deliveries take longer, and the products are not always the most durable. The business model may not be sustainable either; Temu has reportedly been burning through cash. But consumers must be protected from buying potentially harmful products.
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