Around the world, 2020 recalls widespread lockdowns and mobility restrictions. In Latin America, Mercado Libre is likely to be remembered for seizing this opportunity. The e-commerce giant headquartered in Buenos Aires, Argentina, boosted its operations in the region – one of the most affected by the COVID-19 outbreak. That year, MercadoLibre, Inc. saw its net revenue increase by 78 percent, exceeding seven billion U.S. dollars, more than its revenues in 2019 and 2020 combined. The company's unique active users also grew significantly during the pandemic, nearing 140 million in 2021, practically half of all e-commerce users in Latin America.
A little less Brazil, a little more Mexico
As more Latin Americans turned to online shopping due to the pandemic, Mercado Libre’s dynamics in the 18 markets in which it operates changed accordingly. Brazil still accounts for most of the revenue generated by the company, but its share has declined compared to 2019. Meanwhile, Mexico and its home country, Argentina, have increased their contribution to Mercado Libre's revenue. Still, it is in Mexico where competition tends to be stiffest. That is due, in part, to the high amount of Mexican consumers who buy online from U.S. websites and their proximity to one of Mercado Libre's main competitors, Amazon.
The race to deliver is on
The growing demand for online shopping triggered by the pandemic brought urgency to a persistent problem in Latin America, logistics. Realizing the online shopping game is also a race to deliver, e-commerce companies have been investing more in logistics and transportation across the region, seeking to reduce costs and delivery times within and beyond its borders.
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In the following 5 chapters, you will quickly find the 33 most important statistics relating to "Mercado Libre".