In Latin America, the e-commerce industry is booming and has become one of the opportunities for many companies to seek global expansion. Among the many Latin American e-commerce platforms, MercadoLibre is undoubtedly one of the best. So, for sellers who want to open a store on this platform, how can they enter the Latin American e-commerce platform MercadoLibre? The following will explain in detail.
The entry process for sellers on the MercadoLibre platform is relatively simple and standardized. First of all, sellers need to meet some basic requirements: the company must be registered in mainland China or Hong Kong, China, and apply in the name of a limited company. In addition, sellers are better off having a store with an average monthly turnover of more than US$60,000 on mainstream cross-border platforms (such as Amazon, eBay, Wish, AliExpress, Shopee, etc.) and have FBA operation experience, which will be given priority in the application process.
Regarding the goods, the MercadoLibre platform also has some clear requirements. The seller’s customer unit price should be more than US$15, and the best range is between US$20-50. In addition, a stable and high-quality supply is also an indispensable condition for entry. Those sellers with their own brands or brand authorization will be more favored. In addition, sellers need to provide at least 100 product SKUs to meet the diversity and richness of the platform.
In terms of finance, sellers need to have a Payoneer account, which will serve as a channel for transactions and settlements. It should be noted that at the current stage, Chinese sellers do not need to pay taxes on their sales on the Meikeduo platform. However, this does not mean that there will be no need to pay taxes in the future. As the platform develops, similar to Amazon’s practice, the platform may begin to directly deduct the value-added tax and income tax generated by sellers’ sales on the platform.
However, it is worth mentioning that there are still relatively few Chinese sellers on the Meikeduo platform, accounting for only 5% of the total number of sellers. Most sellers are still mainly local Mexican sellers. Therefore, the Meikeduo platform is eager to attract more Chinese sellers to settle in order to make greater breakthroughs in the Chinese market. To this end, the platform will provide more preferential policies and support measures to encourage Chinese sellers to actively participate.
The e-commerce business of the Meikeduo platform has covered 18 Latin American countries including Brazil, Argentina, Mexico, Chile, and Colombia. This also provides broad market opportunities for sellers who want to expand their business in Latin America. By establishing a stable sales channel on the Meikeduo platform, sellers can reach the rich and diverse consumer groups in these countries and improve their brand awareness and sales performance.
In summary, the entry conditions and procedures of the Latin American e-commerce platform Meikeduo are relatively clear. By meeting the requirements of corporate registration, sales, product quality, supply stability, and financial channels, sellers will have the opportunity to conduct business in this vibrant market. As the Meikeduo platform continues to grow and develop, this is an excellent opportunity for sellers who want to enter the Latin American e-commerce market, and it will also bring new possibilities for the expansion of their business.