GMV Growth ConcernsGross Merchandise Volume (GMV) remains stuck in neutral, hinting at sluggish market activity.
Increasing CompetitionFlattish GMV growth (+/-2%) would likely reflect ongoing success with focus-category enhancements offset by GMV declines in non-focus categories and increasing marketplace competition.
International Market ChallengesInternational GMV declined 1% excluding foreign exchange effects, indicating possible challenges in global markets.