Latin America, a vibrant international expansion destination, has become a hotspot in the global e-commerce market. The region’s e-commerce market is estimated to be worth a staggering $362 billion and is still growing rapidly at 25% per year. More than 80% of sales in this huge market come from e-commerce, demonstrating its huge potential and business opportunities. Unlike the US market dominated by Amazon, the market landscape in Latin America is more diversified, with hundreds of competing markets forming a complex e-commerce ecosystem. In this environment, diversified sales channels have become a key strategy to win market share. Limiting yourself to only one or two markets may mean only gaining a 10-25% share of the e-commerce market.
In exploring the grand picture of Latin American e-commerce platforms, we will highlight the top ten e-commerce platforms in the region, their respective characteristics, market influence and user groups.
MercadoLibre, as an e-commerce giant in Latin America, operates in 18 countries and attracts more than 668 million visits per month. In Brazil, Mexico, Argentina and Colombia, it has become an important force in the market. The platform has more than 100 million active buyers, of which Brazilian users account for more than 55% of total sales. Argentina and Mexico also account for 25% and 15% of its sales, respectively. Since its founding in 1999, MercadoLibre has focused on operating as a pure online marketplace, without its own sales operations, ensuring buyer experience and seller reputation through a rating system.
Next is Americanas, a marketplace launched in 1999 by Lojas Americanas, Brazil’s sixth largest retailer. As part of the B2W Group, Americanas is the second largest online marketplace in Brazil, with more than 130 million visits per month. The platform offers more than 40 million products across different categories, including electronics and media, toys and games, fashion, and furniture and appliances.
Amazon, although not as influential as MercadoLibre in Latin America, has a presence in Mexico and Brazil that makes it an important player in e-commerce in the region. Amazon Brazil is one of the country’s popular e-commerce platforms, offering more than 50 million products. Since 2019, Amazon has added multiple distribution centers in Brazil and launched the Prime service. Amazon Mexico has been active in the Mexican market since 2013, offering a wide range of product categories.
VIA Varejo, the second largest e-commerce group in Brazil, was founded in 2010 as a joint venture between Casas Bahia, Ponto Frio and Extra. Casas Bahia is one of the leading retailers in Brazil, with a marketplace that receives 150 million visitors per month and offers a wide range of goods such as electronics, toys, homewares and furniture. Ponto Frio and Extra are also important parts of the Via Varejo Group, offering a diverse range of products.
Magalu, also known as Magazine Luiza, is an online marketplace that operates only in Brazil and is known for its customer-centric approach and seamless shopping experience. Magalu attracts more than 100 million visitors per month and offers products in a variety of categories such as electronics, home appliances, fashion, beauty and furniture.
Walmart Mexico (Walmex), one of the most popular online marketplaces in Mexico, receives more than 80 million visits per month and offers a wide range of product categories. Carrefour Brazil is one of the leading retailers in Brazil, receiving more than 20 million visitors per month since the launch of the marketplace in 2016.
Coppel is a large department store in Mexico that offers home furnishings, electronics, appliances, and apparel, among other products. The company has been operating in Mexico since 1941, and its e-commerce platform has gained popularity in recent years, with significant sales growth.
Buscapé is a Brazilian comparison shopping site with a powerful search engine and a user-friendly interface. With over 30 million visits per month, the platform offers products in categories such as electronics, appliances, fashion, beauty, and health.
Finally, there is Mobly, a Brazilian online marketplace specializing in furniture, home appliances, and home decor products. Founded in 2011, Mobly has become a major player in the Brazilian furniture market, with over 20 million visitors and 3 million registered customers per month.
Overall, the diversity of the Latin American e-commerce market offers sellers a wide range of opportunities. Understanding and leveraging the unique strengths of these major e-commerce platforms can help sellers effectively scale their businesses and succeed in this dynamic market.