The coronavirus pandemic was a moment later for E-commerce to some extent changed market dynamics and turned into a successful movie after stopping at-home shoppers abandoned stores for sites.
but the online the shopping frenzy dwindles as shoppers turn back to me in- The person who browses and buys what they associate with Intensification competition And the global Supply chain disruptions, putting enormous pressure on retailers.
Back to multi-channel shopping and efforts for the beach up Sales to counter a post-epidemic slowdown seems to have caught some market players on The wrong foot, regardless of their size and dominance.
Global e-commerce giant eBay surprised many this week with that it announcement it was going down out of turkey.
The San Jose company, based in California, said it would close its Turkey headquarters online the shop business GittiGidiyor, one of the biggest players in Turkish e-commerce market.
ebay in 2011 acquired 93% of the shares in The brand whose flight dates back Until 2001.
Director of This is well established player triggered Lots of discussions about the reasons behind like this decision.
Effect of grow competition
eBay officials consoled reason for Close “dynamics” of The competition in The market. that they also connect it to global And the local post-epidemic downturn in E-commerce they say has increased pressure on profitability.
“Reviews eBay regularly business Operations globally and made This is difficult, but strategic decision Based on on Ongoing competitive dynamics in The market company said in a permit.
She said the sellers would no longer be able to list new items and as of July 18, buyers will no longer be able to do this new Purchases. “Sellers and buyers will be able to access Their My Account page until September 5, 2022″ added.
However, eBay for years felt heat And she wrestles with declining active Users and pressure over Its earnings and profitability are bleak.
Thus, her look on a global The level was grim even before that decision to liquidate its business operations in turkey.
company failed in trying to fend off off rising competition in turkey of Industry giants like Amazon and Alibaba seem to have failed to respond appropriately to growth Presentations and innovative approaches.
Conclusion of and GittiGidiyor business Not expected to have a material Effect on ebay second-quarter or full-year results, the company said.
The Turkish market contributed about 4 million active Buyers to eBay’s Consolidated active Buyer account at the end of The first quarter of 2022.
Active Buyers on ebay declined 13% to 142 million in The first Three months. Revenue fell 6% to $2.48 billion. Gross Cargo Volume – A Widely Monitored Number for e-commerce industry performance It fell 20% to $19.4 billion.
Bitter farewell
Serkan Borançılı, one of institutional of GittiGidiyor is now among the founding partners of Pioneer Express Delivery and Getir Decaron, took To Twitter to bid farewell to bitter.
“It was very important for the health of the ecosystem in which it lives. Dear GittiGidiyor, You have endless contributions to e-commerce in Turkey, and always will be remain in My memories,” Borançılı wrote.
Behind his farewell, Borançılı has already highlighted the energetic efforts that marked him steps for Safe e-commerce.
previous exits
GittiGidiyor’s exit recalled previous shutdowns in Turkish online shopping industry.
The former South African owned Turkish e-commerce and fashion company Markafoni media and internet giant Naspers, shut down in mid 2017.
Naspers, made powerful share in Chinese Internet giant Tencent bought Markafoni from its founder in 2014 as Turkey at the time-smallE-commerce is on the rise market fee international investors.
bear in Remember that Markafoni was reported to be sold later for just 15 million dollars.
Brand you may get new her
detail on The developmentStartups.watch founder Serkan Unsal, Serkan Unsal, said many factors may have played out role in GittiGidiyor closed, noting that one of Its competitors have raised nearly $2 billion in investment in The last Two years, while another peer got a startup turned into a decimal.
“Since Jetgédeur didn’t make a profit for For many years, she needed to finance every yearthe only one place Where to get it from eBay. I think eBay had a few options Before of He. She. First, you could have funded it (GittiGidiyor) for few more years and trying to make it profitable, but taking into account the exchange ratewould not have been able to get money invested for many more Years. else option “The company was supposed to sell,” Unsal said.
Considering that the company still has over This is said by 25 million visitors option It could have been good option.
“The last option It was stopping more funding and closing the company. I think the effect of The last option on The sector will not be so passive.” added.
“Or not of All well educated people Other companies will enter or start their own project. I think a lot of Whom will succeed, since entrepreneurs of This type is good equipped. So they should be positive and see this as an opportunity,” Unsal said.
“Finally, given that the brand is so powerful, I think someone can. buy Even the brand itself in the coming weeks.”
