Known as the "Amazon of Latin America", it is booming in the market worth hundreds of billions!

Continuing to dominate the Latin American market, its quarterly revenue reached US$5.3 billion.

The Latin American e-commerce market is growing year by year and is known as the last blue ocean market. Last year, the Latin American retail e-commerce market reached $272 billion, and it is expected to double by 2026, a very impressive growth rate. The proportion of cross-border e-commerce in Latin America will also continue to grow, and is expected to reach 15% by 2025.

Meikeduo has grown well in this soil. It has 320 million buyers, accounting for nearly half of the population in Latin America . The platform covers many categories , such as electronic products, household goods, clothing, shoes and hats, etc.

Mercado is by far the largest e-commerce retailer in Latin America. As the leader in Latin America's e-commerce market , Mercado's influence in the Latin American market is growing. In the third quarter of this year , its revenue reached US$5.3 billion, a year-on-year increase of 35% , continuing to dominate the Latin American market .

The transaction volume on its platform has grown rapidly , with the total merchandise volume ( GMV) reaching US$12.9 billion, a year-on-year increase of 14% , and net profit reaching US$390 million, with a net profit margin of 7.5%. In addition , the platform has added nearly 7 million buyers , injecting vitality into the platform .

After more than 20 years of development in Latin America , Meikeduo has maintained a high level of development. Not only did it perform outstandingly in the third quarter, but in the second quarter of this year , Meikeduo's revenue also reached US$5.1 billion, up 42% from the same period last year , an enviable increase .

In recent years, Meikeduo's GMV has also been growing. From 2016 to 2023, GMV increased from US$800 million to US$4.5 billion, with an annual growth rate of 29.9% and a compound annual growth rate of 28%. The number of buyers on the platform increased by 16.4% to 85 million.

Similarly, Meikeduo has also driven the development of a number of Latin American countries. Take Brazil as an example. Meikeduo ranks first in the Brazilian e-commerce market share and is known as the "Latin American Amazon" and the "South American eBay". Brazil's e-commerce revenue is expected to reach US$44.5 billion in 2024, a year-on-year increase of 10% , of which Meikeduo has made a lot of contributions.

In addition, Meikeduo also has plans to expand its logistics network in Brazil . It is expected that the number of distribution centers in Brazil will double by 2025. The improvement in logistics will greatly benefit Brazil's future development .

At the same time, the competition in the Brazilian e-commerce market is also very fierce. Meikeduo is also facing pressure from many e-commerce platforms such as Amazon and Shopee. And with the entry of the "volume king" Temu, the market competition will become more severe. Temu entered the Brazilian market in June and has been quickly accepted by consumers. It is now one of the three most commonly used shopping applications in Brazil.

Opportunities and challenges coexist. The e-commerce market in Latin America will continue to grow rapidly in the next few years and may become a new hotspot in the global cross-border e-commerce field . Meikeduo is also expected to continue to dominate the Latin American e-commerce market.

Meikeduo

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