Business

Mercado Livre keeps being the leader of marketplaces in Brazil

The total amount of products sold on the website increased by 24% and it isn't the only great news

Mercado Livre Q3 results
  • Mercado Livre registered great results in Q3 not only in e-commerce sales but also on its logistics and payments products
  • Magazine Luiza and B2W are the biggest marketplaces competitors in the country, but Mercado Livre keeps being the leader in its category

Despite all the efforts of Brazilian big retailers, Mercado Livre seems to be far away from losing its leadership in the marketplace landscape in Brazil. The Latin American company released its Q3 results and revealed that the total amount of products sold on e-commerce during the period increased by 24% in the country. 

READ ALSO: Mercado Libre overcomes Twitter in market value

And having to deal with the impact of national logistics problems, such as the strike on the Brazilian post office, made the company put more effort into its own products. Now, 30% of purchase deliveries were already made using Mercado Livre‘s logistics solution against only 10% the previous year. Although, in an interview for InfoMoney, market experts pointed out that other Brazilian retailers already have more developed logistical solutions and despite the great results, Mercado Livre still has a long way ahead improving its product. 

Another huge highlight was the company’s payments product, Mercado Pago. The solution reached the total amount processed of $ 7,6 billion, which represents an increase of 94,8% in volume regarding the previous year’s results, achieving 227 million payments transactions made during Q3. 

The running for the retailer market in Brazil is more alive than ever, especially after the investments of Amazon in the country, but in a matter of marketplace, we might expect that Mercado Livre will keep the crown in the country for at least next months.