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Don’t waste another dime on bloated channel reporting and vanity metrics.
Don’t waste another dime on bloated channel reporting and vanity metrics.
dLocal helped the fast fashion platform increase conversion by 5%.
While ecommerce enables merchants to reach consumers anywhere in the world, international expansion requires the infrastructure that will facilitate sales and logistics across borders.
dLocal is one example of a system that helps to make commerce global. Using its payments platform, merchants can expand in emerging markets.
Recently, dLocal shared results of its integration with fast fashion platform Shein.
Shein operates in more than 150 countries such as the United States, Spain, France, Russia, Australia and the Middle East. It worked with dLocal to provide payment solutions and access scale in these markets, according to a news release.
Since initially working together in 2020, dLocal and Shein said that the fast fashion did the following:
“dLocal has been a true partner to scale our operations across the global emerging market landscape over the last couple of years,” said Ted Wang, head of global payments at SHEIN, in a statement. “An important part of creating a great experience for our customers is making sure they can use their preferred payment method. It builds on the strong foundation of trust we have with them, and partners like dLocal help make that happen.”
dLocal works with companies to expand in Africa, Asia and Latin America. Through the company's technology, multinational corporations can accept payments globally, distribute payments and settle funds. They can also issue white-label prepaid virtual cards and physical debit cards in local currency. dLocal says companies don’t have to individually manage different acquirers and payment channels, set up multiple local entities, or interface with multiple acquirers and payment methods in each market. In the end, it offers a model that includes one direct API, one platform and one docking.
The cuts amount to 4% of the ecommerce platform's workforce.
On ebay's campus. (Photo by Flickr user Kazuhisa OTSUBO, used under a Creative Commons license)
eBay is set to become the latest ecommerce platform to conduct layoffs.
The company announced plans on Tuesday to lay off 500 employees, which amounts to about 4% of its workforce. Layoffs were set to take place over the next 24 hours, the company said Tuesday evening.
In an SEC filing, CEO Jamie Iannone said the decision to make layoffs came after consideration of the macroeconomic environment and where the company could best invest for the long-term.
Iannone said the moves “are designed to strengthen our ability to deliver better end-to-end experiences for our customers and to support more innovation and scale across our platform.”
“Importantly, this shift gives us additional space to invest and create new roles in high-potential areas — new technologies, customer innovations and key markets — and to continue to adapt and flex with the changing macro, ecommerce and technology landscape,” Iannone wrote. “We’re also simplifying our structure to make decisions more effectively and with more speed.”
eBay is one of the oldest ecommerce platforms, and remains an active marketplace for both new and resale items. The San Francisco-based company has yet to report results for the fourth quarter of 2022. In the third quarter, the company said gross merchandise volume was down 11%, and revenue was down 5% year-over-year.
Yet the company has also continued to invest. In 2022, it acquired collectibles platform TCGPlayer and myFitment, which provides parts and accessories for automotive and powersports. It also opened a secure vault for trading cards, and launched livestreaming.
eBay is also seeing a boost from advertising, with revenue driven by promoted listings up 19% in the third quarter.
With the layoffs, eBay joins other tech companies that provide the infrastructure of ecommerce in making layoffs. Amazon, Shopify, Salesforce, BigCommerce and Wayfair have all recently announced layoffs. Technology giants like Meta, Google and Microsoft have also made job cuts.
It comes as inflation is weighing on consumers’ discretionary spending, and the return to more in-person shopping throughout 2022 led to a correction following aggressive hiring during the pandemic.