Why it matters: Amazon appears to be turning to the same low-cost shipping playbook it used to gain share in Brazil and Mexico鈥攎arkets dominated by Mercado Libre. Mercado Libre dominates the ecommerce market in Argentina; we expect it will account for 66.5% of the country鈥檚 online sales this year.
The news: Mercado Libre, the Argentinian ecommerce empire, says it will invest billions of dollars into its Brazilian business in 2023. Much of that investment will go to Mercado Pago, its fintech business, which has been increasing its reach in financial services.
Source: Insider Intelligence | eMarketer; Interactive Advertising Bureau of Canada (IAB Canada); Interactive Advertising Bureau (IAB); Interactive Advertising Bureau M茅xico (IAB M茅xico); Interactive Advertising Bureau Argentina (IAB Argentina); Interactive Advertising Bureau Brasil (IAB Brasil); Interactive Advertising Bureau Chile (IAB Chile); Interactive Advertising Bureau Colombia (IAB Colombia); Interactive Advertising Bureau Per煤 (IAB Per煤); Interactive Advertising Bureau Uruguay (IAB Uruguay)