The quick mani group Shein Group Ltd. has increased the American prices of its products, dresses in kitchen utensils before imminent prices on small plots, in an early sign of the potential effect of trade war on American consumers.
Most American price hikes came on Friday, with considerably higher increases in certain categories than others, according to data compiled by Bloomberg News. The average price of the 100 best products in the beauty and health category increased by 51% compared to Thursday, several of the more than doubling of the price. For home and kitchen products and toys, the average leap was more than 30%, led by a massive increase of 377% of the price of a set of cookbooks of 10 rooms. For women’s clothing, the increase was 8%.
Electronic trade platforms like Shein and Temu face a 120% rate on many of their products due to the US government’s decision to end the exemption of “minmis” for small packages of continental China and Hong Kong. In recent years, exporters had capitalized on the exemption, which has enabled the goods assessed at less than $ 800 to enter the United States without prices or customs prices. Washington will also increase the costs by postal element on the goods incurred after $ 2 to 100 and even higher after June 1.
No more recently than on April 21, Trump declared in an article on social networks that “there is practically No inflation“Due to the drop in energy and grocery prices. But the rise in Shein prices reflects the last efforts of Chinese online retailers to pass at least some of the additional import costs on American consumers.
In February, in order tolook for a blanketAccording to Trump’s pricing policy, Shein has offered incentives to some of its Chinese suppliers to set up production capacities in Vietnam. Temu wanted Chinese factoriesship their own bulk goodsDirectly to American warehouses, adopting what he called a “half-garda” framework.
TEMU and Shein saw sales bounce back in March and early April while American buyers stored everything, from makeup brushes to household appliances before price increases led by prices, Bloomberg datashows. The two companies announced earlier this month that they would increase prices in the United States.
In general, prices increased by around 10% for Shein in the United States from April 24 to 26 on the basis of a basket sample filled with Bloomberg News with 50 items from a range of categories. During the period, 7 out of 50 sampled items were struck off in the United States. On the other hand, Shein’s prices in the United Kingdom have been mainly unchanged and no article has been struck off.
Of the 43 items still available in the American basket, 30 had an increase in prices of more than 10% during the two days.
Although wider price adjustments took place on Friday, some goods had already become more expensive. The prices of dozens of best products in the women’s clothing category on Shein increased on April 22, which pushed the average price of the 100 best products in the category to $ 9.06, compared to $ 8.68, an increase of more than 4%.
This story was initially presented on Fortune.com
