Mercado Libre to expand into 32 states in Mexico!

According to the latest news from foreign media , Latin American e-commerce giant Mercado Libre recently stated that it will continue to expand its business in Mexico in 2022 , and its service scope will extend from the current 23 states to 32 states , with huge room for market expansion.

Currently, Mercado Libre has become the highest valued company in Latin America, with sales exceeding US$90 billion. It has a great advantage in competing with local e-commerce platforms and is one of the most popular online shopping platforms among local consumers.

According to the person in charge of Mercado Libre's marketing department , his company's platform sales in Mexico City in 2021 have reached 3.5 million US dollars .

In fact, Mercado Libre 's competitors in the Mexican market are very strong, including e-commerce giants Amazon and Walmart, as well as local competitor Coppel (Mexico's second largest department store), with an average monthly traffic of 17 million visits. But even so, Mercado Libre still maintains its dominant position in the Latin American market, with high consumer stickiness and monthly visits of about 110 million times.

As the third largest online retail market in Latin America, Mexico's consumer spending has maintained steady growth. In 2020, the e-commerce market size reached approximately US$16.9 billion, and the number of e-commerce users exceeded 55 million. According to the forecast of relevant institutions , Mexico's online sales may reach US$50 billion in 2022 .

  According to consumption trends during previous holidays, clothing and electronic products are still the main categories with the highest consumer spending in Latin America, including the Mexican market. In addition, with the recurrence of the epidemic, the sales of disinfection and hygiene products have also increased significantly.

In terms of consumer groups, the main force in the Mexican market is young people, who mostly shop online, and there is huge consumption potential in the e-commerce market.

According to Mercado Libre's 2021 financial report, Mercado Libre 's net income in Mexico increased by 76% in the third quarter . In addition, Mercado Libre also expanded its distribution warehouse last year to facilitate faster and on-time delivery, and continuously improved the service level and quality of its platform.

Mercado Libre

Mexico