Regarding these metrics, do you think Mercado Libre performs significantly better than its competitors?

For example, from a customer experience perspective, Chinese companies cannot replicate the experience that Mercado Libre delivers due to lacking logistics capabilities in these regional countries. As a Shopee, Temu, or SHEIN customer, it is challenging to track orders, process cancellations, or have 95% of items delivered within 24 hours. These are areas where Mercado Libre excels, with a regional network extending to many rural areas. This proximity benefits both customers and local sellers.

Regarding these metrics, do you think Mercado Libre performs significantly better than its competitors?

Mercado Libre has numerous competitors, and it is not always directly competing with Amazon. For Amazon, Mexico is an ancillary market, with 50% to 60% of items sold there delivered through the U.S. fulfillment network, primarily from Texas. These are 1P items that Amazon buys and sells, focusing on the top end of the market and avoiding low-margin products.

As I saw on your LinkedIn profile, you led an EBITDA-focused strategy in Mexico that resulted in quick profitability. Could you discuss the specific levers you used to achieve this immediate profitability impact?

In 2022, I was involved in shutting down a building that wasn't fully utilized. We had to cease operations in that facility. Another strategic move I made was to specialize the network. Previously, our fulfillment centers handled everything from small mobile phones to large TVs and furniture pieces in the same location. This mix affected our unit economics negatively.