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In your opinion, is Global-e's competitive advantage compared to alternatives increasing, decreasing, or staying the same?

In the mid-market and below, it's different. Global-e lost exclusivity, and we can discuss the exclusivity with Shopify. Losing exclusivity means more competition, with smaller players offering good solutions for smaller brands. Players like Swap are very competitive in the mid-market on Shopify. Glopal, a more European player, offers partial solutions like Zonos. These are not end-to-end solutions but can satisfy the Shopify market. In the mid-market, Global-e faces more risk, but in strategic partnerships, it's still very strong.

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