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SEGMENT REPORTING | 12 Months Ended
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Dec. 31, 2019
SEGMENT REPORTING |
SEGMENT REPORTING | 19. SEGMENT REPORTING The Group’s chief operating decision maker has been identified as the Chief Executive Officer who reviews consolidated results when making decisions about allocating resources and assessing performance of the Group. The Group uses the management approach to determine the operating segments. The management approach considers the internal organization and reporting used by the Group’s chief operating decision maker for making decisions, allocating resources and assessing the performance. Prior to 2016, the Group’s operations were organized into one operating segment. In 2016, following the further expansion in service business and revenue generated from services beginning to account for a material portion of the total revenue, the Group operated and reviewed its performance in two segments: (i) Product sales which consisted of online retailing of consumer products, and (ii) Services which consisted of provision of services such as technical services and logistic services to other e-commerce retailers. Furthermore, the Group’s chief operating decision maker evaluates performance based on each reporting segment’s revenues, costs and gross profit and is not provided with asset information by segment. There were no separate segment assets and segment liabilities information provided to the Group's Chief Executive Officer, as he does not use this information to allocate resources to or evaluate the performance of the segments. The following table presents selected financial information relating to the Group’s segments:
|  | Year ended December 31, 2019
|  | Product sales |  | Services |  | Consolidated
Revenues |  | $ | 236,705 |  | $ | 6,921 |  | $ | 243,626
Cost of revenues |  |  | 144,061 |  |  | 1,968 |  |  | 146,029
Gross profit |  |  | 92,644 |  |  | 4,953 |  |  | 97,597
Unallocated operating expenses |  |  |  |  |  |  |  |  | 113,649
Loss from operations |  |  |  |  |  |  |  |  | (16,052)
Interest income |  |  |  |  |  |  |  |  | 297
Interest expense |  |  |  |  |  |  |  |  | (66)
Change in fair value of convertible promissory notes |  |  |  |  |  |  |  |  | 14,591
Other income, net |  |  |  |  |  |  |  |  | 283
Loss before income tax expense and gain from equity method investment |  |  |  |  |  |  |  | $ | (947)
|  | Year ended December 31, 2018
|  | Product sales |  | Services |  | Consolidated
Revenues |  | $ | 216,407 |  | $ | 11,132 |  | $ | 227,539
Cost of revenues |  |  | 156,326 |  |  | 10,017 |  |  | 166,343
Gross profit |  |  | 60,081 |  |  | 1,115 |  |  | 61,196
Unallocated operating expenses |  |  |  |  |  |  |  |  | 98,677
Loss from operations |  |  |  |  |  |  |  |  | (37,481)
Interest income |  |  |  |  |  |  |  |  | 487
Interest expense |  |  |  |  |  |  |  |  | (5)
Change in fair value of convertible promissory notes |  |  |  |  |  |  |  |  | (22,791)
Loss before income tax expense |  |  |  |  |  |  |  | $ | (59,790)
|  | Year ended December 31, 2017
|  | Product sales |  | Services |  | Consolidated
Revenues |  | $ | 293,951 |  | $ | 25,930 |  | $ | 319,881
Cost of revenues |  |  | 189,816 |  |  | 24,445 |  |  | 214,261
Gross profit |  |  | 104,135 |  |  | 1,485 |  |  | 105,620
Unallocated operating expenses |  |  |  |  |  |  |  |  | 115,787
Loss from operations |  |  |  |  |  |  |  |  | (10,167)
Exchange loss on offshore bank accounts |  |  |  |  |  |  |  |  | (89)
Interest income |  |  |  |  |  |  |  |  | 581
Loss before income tax expense |  |  |  |  |  |  |  | $ | (9,675)
|  | Year ended December 31,
|  | 2017 |  | 2018 |  | 2019
Apparel |  | $ | 99,160 |  | $ | 72,871 |  | $ | 78,954
Other general merchandise (1) |  |  | 194,791 |  |  | 143,536 |  |  | 157,751
Total product sales revenues |  | $ | 293,951 |  | $ | 216,407 |  | $ | 236,705
(1)Others mainly include products such as small accessories and gadgets, home garden, electronics and communication devices and others. The following table summarizes the Group’s total revenues generated in different geographic locations and as a percentage of total revenues.
|  | Year ended December 31,
|  | 2017 |  | 2018 |  | 2019
|  | Revenues |  | % |  | Revenues |  | % |  | Revenues |  | %
Europe |  | $ | 153,697 |  | 48.1 |  | $ | 109,781 |  | 48.2 |  | $ | 87,586 |  | 36.0
North America |  |  | 73,339 |  | 22.9 |  |  | 51,206 |  | 22.5 |  |  | 37,932 |  | 15.6
Other countries |  |  | 92,845 |  | 29.0 |  |  | 66,552 |  | 29.3 |  |  | 118,108 |  | 48.4
Total revenues |  | $ | 319,881 |  | 100.0 |  | $ | 227,539 |  | 100.0 |  | $ | 243,626 |  | 100.0
Europe’s revenues include revenues from France of $34,693, $22,900 and $18,012 during the years ended December 31, 2017, 2018 and 2019, respectively. North America’s revenues include revenues from the United States of, $60,810, $40,148 and $29,794 during the years ended December 31, 2017, 2018 and 2019, respectively. As of December 31, 2017, 2018 and 2019 substantially all of long-lived assets of the Group are located in the PRC and Singapore.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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