9:59 h / 2021/01/11
Latin American ecommerce giant Mercado Libre has benefitted immensely from the pandemic, as stay-at-home orders forced shoppers to buy online. There is room to grow in several key markets - even where it outperforms.
The majority of Mercado Libre’s sales are in Brazil. In 2020, its ecom business there growed 39.0% to reach $10.97 billion. This is the first time the platform’s sales exceed $10 billion. As a result, Brazil represents 53.5% of Mercado Libre’s regional ecom business.
In 2020, Mercado Libre’s second biggest market is Argentina with $4.41 billion, whereof nearly two-thirds (65.1%) of Mercado Libre’s Argentina business come from mobile devices.
Mexico (3rd biggest market) accounts sales of $4 billion - 19.8% of the company’s revenue.