As the largest e-commerce platform in Latin America, Mercado Libre has a wide reputation and is known as the “Latin American version of eBay”. Founded in 1999 and headquartered in Buenos Aires, Argentina, Mercado Libre has significant advantages and status in the cross-border e-commerce industry and has become one of the first choices for many consumers to shop in Latin America. Let’s take a look at the advantages and achievements of the Mercado Libre platform.
First of all, Mercado Libre’s business has covered 18 countries and regions in Latin America, including major countries such as Argentina, Brazil, Mexico, Chile, Venezuela, and Colombia. According to ComScore’s report in September 2017, Mercado Libre ranked first in the e-commerce platform traffic rankings in these countries, which shows that its position in the Latin American market is very important. As of 2021, Mercado Libre has more than 12 million sellers and 55 million active buyers, processing 29 purchases and 538 visits per second. These data show that Mercado Libre has a broad user base and strong traffic advantages in Latin America.
Secondly, Mercado is an e-commerce platform that was initially inspired by eBay, but it is more adapted to the market and more successful than eBay. Similar to China’s Taobao, Mercado mainly adopts C2C and B2C models, providing a convenient trading platform for sellers and buyers. For cross-border sellers, through Mercado’s cross-border trade plan, they can sell in Latin America and directly target shoppers in Brazil, Mexico, Argentina and Chile. In addition, Mercado has launched supplementary businesses, including Mercado Pago for online payment, offline payment and loans, Mercado Ads for advertising, Mercado shops for independent e-commerce stores, and Mercado Envíos for transportation and fulfillment, etc., which fully meet the needs of sellers and buyers.
Furthermore, the GMV (gross transaction volume) of the Mercado platform, which has doubled year after year, is also one of its advantages. According to data from market research firm marketplace pulse, about 56% of Mercado’s sales come from Brazil, 30% from Argentina, 5% from Mexico, 3% from Venezuela, and 4% from other countries. Driven by the epidemic in 2020, Meikeduo has achieved tremendous growth, with GMV increasing from US$139.975 billion in 2019 to US$209.267 billion in 2020, an increase of 50%. As of the third quarter of 2021, Meikeduo’s GMV reached US$73.144 billion, a year-on-year increase of 24%. This shows Meikeduo’s rapid development and strong market performance in Latin America.
In summary, as the largest e-commerce platform in Latin America, Meikeduo’s advantages and achievements cannot be ignored in the cross-border e-commerce industry. It covers a wide range of countries, has a strong user base and traffic advantages, and provides a convenient trading platform for sellers and buyers. At the same time, Meikeduo has performed well in business expansion and growth, and its GMV, which has doubled year after year, is also an important proof of its success. As a leader in the Latin American market, Meikeduo has brought huge business opportunities and development space for cross-border sellers, and will continue to play an important leading role in the e-commerce field in Latin America in the future.