Mercado Libre's sales exceeded 90 billion, with multiple categories growing 8 times!

Recently, Mercado Libre officials revealed that compared with before the pandemic, the e-commerce platform's product categories have seen a significant increase, with each category growing eight times . Products such as computers, laptops and mobile phones have grown the fastest, increasing by almost 700% compared to the previous year .

Pedro White, the relevant person in charge of the Peruvian market of Mercado Libre , said that due to the repeated outbreaks of the epidemic, there is a huge demand for masks, alcohol gels and various sanitary products used to fight the virus . At the same time, consumers staying at home have also driven an increase in sales of office furniture, computers, cables, various home health products and even sports products .

He also said that the proportion of e-commerce in China and the United States reached 40% and 25% respectively , while in Latin America , the figure was only between 5% and 10%, and in Peru it was only 2% and 3% of the total trade.

It is understood that currency depreciation has had an impact on the local consumer price index . Since most of Peru's products are imported , their costs have increased by 3% to 5%. However, with the stabilization of the exchange rate , prices are also stabilizing.

Pedro White also said that the e-commerce market in Latin America has great development potential , and its sales and user traffic will perform well in the next few years.

As a local brand in Latin America, Mercado Libre has higher brand trust and consumer stickiness than other platforms. Its platform covers multiple categories such as technology, home products, sports, beauty, toys, mass consumer goods, etc., and is deeply loved by local consumers in Latin America.

Pedro White also said that as a public company listed on the Nasdaq Stock Exchange for 14 years, Mercado Libre has more than 15 million registered visits per month . The epidemic has also had varying degrees of impact on the sales of major e-commerce platforms, and Mercado Libre is no exception.

In this regard, Pedro White said that buyers who originally planned to try the e-commerce industry in 2023 or 2024 have already entered Amazon in 2020. Although the number of e - commerce increases has reached a critical mass, the development of the e-commerce industry will continue.

Mercado Libre

Sales