Atiqur Rahman

How to Sell on Mercado Libre INC: Step-by-Step Guide for Online Sellers Author: Aleksejs Leal 1 Copyright © 2012 Aleksejs Leal All rights reserved. 2 Table of Contents Introduction to the Marketplace ................................................................ 4 What is Mercado Libre INC marketplace? ............................................... 4 What is Mercado Libre INC cross trade, and which sellers need it? ..... 5 What Can You Sell on Mercado Libre INC? ............................................ 6 Automatons: ........................................................................................... 6 How to Sell Mercado Libre INC Marketplace .......................................... 8 Setting up a selling account on Mercado Libre INC............................... 10 Ten stocks we like better than Amazon.com, Inc. ............................... 10 The elephant in the room ...................................................................... 10 The silver lining.................................................................................... 11 Listing First Products ........................................................................... 11 How to sell on MercadoLibre: Pro Tips.................................................. 12 Automatic Transformation ...................................................................... 13 Reputation................................................................................................ 13 How do you want to pay for that? ........................................................... 15 Pulling it all together ............................................................................ 15 A final word .......................................................................................... 15 3 Introduction to the Marketplace Mercado Libre INC is a world-renowned marketplace and is one of the largest e-commerce platforms in Latin America. The platform operates in 19 countries in the LATAM region, including Mexico, Argentina, Brazil, Colombia, and Chile. Mercado Libre INC is more than just marketing as it also offers consumers a variety of payment, advertising, and re-building solutions. If you are in doubt as to whether Mercado Libre INC is worth your time and effort, look for these statistics: • • • • • • • • Mercado Libre INC is the seventh most visited website in the world. Mercado Libre INC operates in countries that are particularly interested in online retailers. The full list includes Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Mexico, Ecuador, Guatemala, Honduras, Peru, Panama, Uruguay, and Venezuela. In the first quarter of 2019, there were more than 200.60 million active product listings on Mercado Libre INC. In the same quarter of this year, 4.20 million retailers made at least one sale The first quarter of 2019 was sold by 18.80 million buyers who once bought at least one market share, rising 11 percent a year. At the same time, the market helped its retailers to sell 82.80 million items. Mercado Libre INC is famous in many Latin American countries for its mass sales from its simplicity. Earlier this year, 56% of sales were made in Brazil, 30% in Argentina, 5% in Mexico, 3% in Venezuela, and 4% in other supported countries. Mercado Libre INC is the most popular store in Latin America with names like Amazon, B2W Digital, Alibaba and eBay lagging in the background. The numbers speak for themselves. If you are looking for an effective way to sell products in the LATAM region, there is no better tool for that than Mercado Libre INC. The marketplace is an excellent choice for local and foreign retailers who want to grow their commerce business in new markets. What is Mercado Libre INC marketplace? Mercado Libre Inc, (literally “free market” in Spanish, also known as Mercado Livre in Portuguese) is an American-based Argentine company that operates online markets offered at ecommerce and online auctions, including Mercado Libre INC.com. As of 2016, Mercado Libre INC had 174.2 million users in Latin America, making it one of the most popular e-commerce sites in terms of the number of visitors. The company operates in Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Mexico, Spain, Ecuador, Guatemala, Honduras, Peru, Panama, Uruguay, and Venezuela. Mercado Libre INC operates under five core business units. Mark Place is its platform for users to sell products, Mercado Pago is its payment platform for online sales, Mercado Public ado is part 4 of Mercado Libre INC advertising, Mercado stores are a tool designed to improve the status of the platform, and Mercado Crédito is a credit line company. Mercado Libre INC’s Market Place is a platform designed to match buyers and sellers. Customers demand items or pay a limited number of products offered. Items are delivered after payment, and users can provide feedback—3000 official stores or bands are working with Mercado Libre INC. Mercado Libre INC also operates a real estate market under the name Mercado Libre INC Classificados. Realtors pay a monthly fee to record buildings and vehicles on the base of the Mercado Libre INC. Mercado Libre INC has introduced the Mercado Pago, a secure payment system, to diversify payment options. Mercado Pago used 138.7 million sales in 2016, which was a 73% improvement from 2015. Started in 2012, Mercado stores are designed to allow small and medium-sized companies to open existing stores on their existing websites. Stores show integration with social networking sites. In October 2014, the Mercado Pago mobile app was released using a credit card to allow cases to be processed using a tablet or smartphone using a QR code. The company expanded Mercado Pago to Colombia in July 2016. The Mercado Libre INC e-commerce situation is proliferating as the world is shrinking at this level of digital integration. No one wants to be arrested within the area and reduced. How could ecommerce marketers sell at the time? Sales in your country are not the only practice that sellers want to pursue. Spending in neighboring countries is one thing that retailers are considering. That is what Cross-Border Trade is all about - trading in a neighboring state. As I mentioned in the cross-border trade, it would remind me to say nothing about Mercado Libre INC (and the Mercado Libre INC Cross-Border Trade), an Argentine tyrant. It is an e-commerce company, and selling on Mercado Libre INC means you can sell in many countries and offer your way of expressing what online marketers want. So, let us get started and go through all about this Argentine e-commerce company and how ‘you can sell on Mercado Libre INC. What is Mercado Libre INC cross trade, and which sellers need it? The Mercado Libre INC Cross-Border trading system is a system that allows traders to trade on Mercado Libre INC and oversees Latin American regions. It will enable foreign merchants to place their products on Mercado Libre INC, and expose them to Latin American customers. Known as the 7th most visited website in the world, Mercado Libre INC cross-border trading is available in countries such as Brazil, Mexico, Argentina, and Colombia. Mercado Libre INC generates revenues from the Mercado Libre INC marketplace final value fees, as well as through non-marketplace revenue streams by delivering value-added services in payments processing, shipping, classifieds, online advertising, and storefront solutions. In the future, Mercado Libre INC plans to empower other countries (19 countries in which Mercado Libre INC operates) and its CBT (Cross-Border Trade) program. It is known as the leading shopping company in the market of more than 550 million people in the region with one of the fastest-growing prices in the world. Mercado Libre INC provides buyers and sellers alike with a powerful trading platform to create a more extensive and growing trading 5 community. Mercado Libre INC’s Cross Border Trade (CBT) system allows traders to register in all these countries from one location. We sat down with MercanoLibre INC’s Mariano Migues, Cross Border Trade Supervisor, and Teo Zavala Gahan, Cross Border Trade Senior Analyst, to discuss why we should sell products at MoneyadoLibre INC and they convinced us with all the pros of Mercado Libre INC INC. What Can You Sell on Mercado Libre INC? Mercado Libre INC is a large marketplace that allows retailers to sell almost all types of products. There are 20 main categories and 123 subcategories on Mercado Libre INC. When it comes to foreign suppliers, the situation is slightly different. All countries that support the Cross-Border Trade Program have different rules regarding imported products. Mercado Libre INC offers a complete list of products that are banned from being imported into Brazil, Mexico, Argentina, Chile, and Colombia. For those who are interested in these specific markets, it is best to read them before making decisions. The accompanying items can be imported however they are dependent upon certain limitations: - Automatons: drones’ weight under 2 kgs, with esteem under 300 USD. Any purchaser will be permitted to purchase close to 2 comparative items inside a year and should give a NONCOMMERCIALIZATION letter. Fragrances and scents: the purchaser will be required to give the accompanying documentation: CURP, confirmation of address, IFE, and CARTA encomienda. Cremes and saturating creams: the contractor must give a Technical letter. Watches, Glasses, and Sunglasses: they can be imported if the pronounced worth is the genuine one. Save Parts and Accessories: new tires for engine vehicles and new tires with a measurement of 14”, 15 “and 16” of a sort utilized in the travel industry vehicles, including the family (“break” or “station cart”) and hustling vehicles, trucks, vans and comparative for shipping individuals. For own utilization for the representative, ONLY 5 PIECES. There are 20 major categories and 123 small categories on Mercado Libre INC. ● Vehicle Accessories Car Audio, Covers and Tires, Spare Parts for Cars, Spare Parts and Acc. For Motorcycles, Tuning, and Accessories ● Art and Antiques 6 Antiques, Art, Crafts ● Cars, Motorcycles, and Others Collection Cars, Cars and Trucks, Trucks, Collectives, Heavy Machinery, Motorcycles, Nautical ● Digital cameras and photo Accessories for Digital Camera, Conventional Cameras, Video Cameras, Digital, Cameras, Reflex / Pro cameras, Telescopes and Binoculars ● Cell Phones and Telephones Accessories for Cell phones, Cellphones, and Smartphones, Telephones ● Collectibles and Hobbies Banknotes and Coins, Various Collections, Cans, Bottles, and Allied, Modeling ● Computing Accessories for Notebook, Apple, Computers and Servers, Hard Drives and Laptops, Printers and Cartridges, Memories, Monitors, Multimedia, Notebooks and Laptops, Peripherals and Accessories, Video Plates and Publishers, Motherboards, Processors, Projectors, Burners, Virgin CDs and DVDs, Networks and Wireless Networks, Software, Tablets ● Consoles and Video Games Nintendo 3DS, Nintendo Wii U ● Sports and Fitness Aerobics and Fitness, Basketball, Bicycles and Cycling, Camping and Fishing, Water Sports, Soccer, Sports Watches, Skates and Rollers, Tennis, Paddle, and Squash ● Electronics, Audio, and Video Home Audio, Car Audio, Portable Audio, Calculators, GPS, iPod, MP3 Players, Projectors, DVD players, Televisions, Video Cameras ● Home & Appliances Bazaar, Decoration, Appliances, Household Tools, Garden, and Outdoors, Furniture ● Clothing and Accessories Fashion Accessories, Blouses, Bags and Wallets, Footwear, T-shirts, Jeans, Lenses, Pants, Intimate Clothing, Clothing for Babies, Dresses ● Properties Apartment, Wineries, House, Farms, Rooms, Lots, Office ● Musical Instruments 7 Musical Accessories, Amplifiers, Low, Batteries, Guitars, Keyboards ● Jewelry and watches Jewelry, Watches, ● Games and Toys Action Figures, Modeling, Dolls, and Dolls ● Books, Magazines, and Comics Comics, Books, Magazines ● Music and Movies Vinyl Records, Movies and TV Series ● Services Beauty and Personal Hygiene, Teaching, Festivals and Events, Household, Maintenance, Medicine and Health, Professionals, Repairs and Installations, General Transportation, Travel and Tourism ● Other categories Adults, Animals and Pets, Babies, Industries and Offices, Health and Beauty How to Sell Mercado Libre INC Marketplace Opening a store in a new market can seem like a daunting task. That is why we split the whole process into easy-to-follow steps that will bring you to the Mercado Libre INC market at any time. To empower traders to be able to trade effectively in the Latin American region, we bring to them the Advanced Integrated Development of the Mercado Libre INC market. Using the Mercado Libre INC integration extension, retailers with an online store on platforms like Magento can easily integrate their store with Mercado Libre INC and become Mercado Libre INC CBT vendors. By doing so, retailers can put their products on Mercado Libre INC, sell their products in Latin America, and become Mercado Libre INC CBT vendors. Here is a step-by-step process on how to become a Mercado Libre INC CBT dealer, combine your Magento 2 store with Mercado Libre INC, and sell it on the Mercado Libre INC market. Step 1: Install Mercado Libre INC Extension on your Magento 2 Admin page Installation of Mercado Libre INC Integration Extension is the first step that needs to be taken to start marketing on Mercado Libre INC. Step 2: Configure settings 8 Once the Mercado Libre INC Magento 2 Extension Extension is installed, traders need to adjust the market settings. This will serve as the basis for the integration process, and the vendor can select/enter the relevant product details while performing the configuration. Step 3: Create a Profile After the filling is completed, the seller needs to create a profile and provide the same type of products on that profile. By doing so, it becomes easier for the seller to load products into the market in the future as the same type of products can be added to the profile when uploaded. Map category and attribute With the extension of the merger Mercado Libre INC Magento 2, sellers wishing to sell on Mercado Libre INC have the authority to mark a category and brand of products they will sell on Mercado Libre INC. By finding the group and feature of their products and their classification and attributes of Mercado Libre INC, they place the product in the most closely related category in the Mercado Libre INC market. Step 4: Install products on Mercado Libre INC Once you have established your product profile, you can post your products to Mercado Libre INC from your admin panel. Step 5: Manage product listing on Mercado Libre INC After all, the necessary steps have been taken until this step correction, profile creation, product upload, and distribution of relevant information in the building- a vendor using the Mercado Libre INC Magento 2 Integration can easily manage the products in the Mercado Libre INC market from the management area. The seller may edit, delete, or remove the Mercado Libre INC platform products from the control panel. Step 6: Customers place an order and payment is processed Now that your product appears on the Mercado Libre INC market and has become a Mercado Libre INC CBT retailer, your products are ready for online customer orders in all countries where the Mercado Libre INC Cross-Border Trade system operates. Once an order is placed, payment is received by Mercado Libre INC through the official payment gateway of the market, i.e., i.e., Morando Pago, and the order will be shipped to Mercado Libre INC CBT. The Mercado Libre INC Market creates payments to the Mercado Libre INC CBT dealer every 15 days. Step 7: The order is placed in your admin panel The Mercado Libre INC Magento 2 integration extension acknowledges and accepts orders on behalf of the Mercado Libre INC dealer and gives the seller the freedom to submit a request from the control panel. 9 Setting up a selling account on Mercado Libre INC The process of creating a new Mercado Libre INC account is not difficult at all and is no different from the same procedure performed in other markets. • • • First, you need to sign up for Mercado Libre INC. You can do this by filling out the following registration forms in the Mercado Libre INC forum. You will be asked to provide details of your company, so you should have it. After you receive the letter with confirmation of your account registration, you need to follow the link provided and login to your new account. To be safe, check that your company details are correct. You can do this by signing into the Seller Center and going to My Account and selecting the Merchant Profile. From there, you need to re-enter your company logo that will be part of the product image in the marketplace. Ten stocks we like better than Amazon.com, Inc. When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. David and Tom just revealed what they believe are the ten best stocks for investors to buy right now… and Amazon.com, Inc. wasn’t one of them! That is right -- they think these ten stocks are even better buys. The elephant in the room Mercado libre’s stock has whipsawed over the past three years for two big reasons: political and currency concerns and the encroachment of Amazon. Amazon has already been set up in Mexico for years, and recent reports indicated that it could be moving into Brazil, Mercado Libre’s most important market. But Mercado Libre’s results have made it clear it has a significant upper hand on Amazon when it comes to Latin America. The company had 201 million registered users as of last quarter, equivalent to almost one-third of Latin America’s population; total payment volume increased 74% to $3.7 billion in the third quarter alone; and gross merchandise volume -- or the full value of all the “stuff” sold -- jumped 50% to $3.1 billion. More importantly, however, the company’s investments in its delivery network -- and deals on free two-day shipping in some locations -- have caused growth rates to either maintain or reaccelerate from their torrid pace across the company’s geographical footprint. Imagine trying to explain to your 1997 self how a small company selling books online could somehow morph into the largest e-commerce giant in North America, leaving behind a swath of brick-and-mortar wreckage -- an economical version of Sherman’s march to the sea. 10 But if we simply look at Amazon’s mission statement since day one, it all makes sense: “To be the earth’s most customer-centric company.” There is a little more to it than that, but this is the core of what needs to be understood. For this article, we are going to focus on the word “earth.” Jeff Bezos has shown no signs of backing down from this mission over the past 20 years, and to assume he will anytime soon be a grave error. Offering the best customer service experience in Latin America is on his “To Do” list. He can accomplish that a lot quicker by merely acquiring MercadoLibre. The latter already has significant mindshare in the region; the relationships developed with local convenience stores to help the “unbanked” use Mercado Pago is the type of “local” link that would take years to match, and the fulfillment infrastructure has already started to take shape for MercadoLibre. While it would have been much cheaper for Amazon to have made such a move as recently as February 2016 when MercadoLibre had a market cap of less than $4 billion, Amazon could still save money and gain exposure to Latin America by merely joining forces. Currently trading with a market capitalization of $15 billion, MercadoLibre is by no means cheap. Amazon already took on a lot of debt when it acquired Whole Foods last year and did not have much of a net cash position to speak of any longer. An acquisition of MercadoLibre could be paid for in an all-stock deal. At today’s prices, that would mean issuing roughly 12 million new shares of Amazon, diluting current shareholders by approximately 2.5%. That is not ideal, but it seems to be the best possible way for Amazon to swing such a deal. The silver lining There are three scenarios that I can see playing out. In the first -- outlined above -- Amazon acquires MercadoLibre. In the second, Mercado Libre’s head starts, and home-court advantage are enough to allow it to “win” Latin America and continue its dominance in the region. Both scenarios are positive for MercadoLibre shareholders and represent a silver lining should an acquisition not take place. There is a third scenario that is downright ugly: MercadoLibre and Amazon going to war with one another, slashing prices on goods and services while investing heavily in infrastructure. The idea would be to bleed out the competition, with results being mostly negative for both players. As someone whose owns shares of both Amazon and MercadoLibre -- accounting for 27% of my reallife holdings -- I genuinely hope this third scenario does not come to pass. If it does, MercadoLibre could be a shell of its current self in five years. But I am counting on cooler heads prevailing -- and my skin is firmly in the game supporting that belief. Listing First Products The MercadoLibre has brought a cognitive revolution in terms of e-commerce in several countries. The seller needs to be well composed in choosing the brand, the promotional ideas, and listing the first products. Therefore, listing the first products is not an as easy job as it looks. It 11 would help if you had full observed research about the features and attributes of the product. You will need to follow some basic footsteps to create a top-notch and well-defined listing first product. 1. Firstly, you need to choose the product which you want to sell and get promoted. The type and detail of the product should be mentioned as MercadoLibre offers various niches like vehicles, real estate, product services, and many more additional picks. This step is not changeable, so you need to think twice before opting for the desired and reasonable product. Every little information needs to be highlighted and taken into preservation. 2. After completing the first step quite successfully by selecting the select category, then you need to check your subcategory of the specific product. Remember, this step is performed to create ease and more feasibility for the buyer to identify your product. This would make your desired outcome to be more visible and authentic too. This is also an essential part of the whole procedure of selecting the first list product. 3. Afterward, the central part of the procedure is writing the title and sub-headings. You need to write a catchy and flexible title as it captivates the reader and engages it more for buying the product. Then it would be best if you placed a sub-heading, thus ensuring great impeccability for your specific product list. 4. Furthermore, the essential part is to write an engaging, intriguing, and well-mannered description regarding your product. This needs to be more realistic to attract your client. It includes the necessary info, likewise the essential features, unique technicalities, and much more regarding the product. In a nutshell, it would describe and evaluate your product services. 5. When a description is done, then images are being added related to your product or brand. The photos work as an attention seeker and provide aesthetic floe to your product with a catchy description. Images should undoubtedly be related to the product and can include keywords regarding your service too. Moreover, they need to be your own occupied as it can cause copyright claims and other resulting problems for the seller. 6. In conclusion, the final product is the confirmation step. This is an acceptance letter to publish your listing first product or not. It needs to be overlooked before allowing the app or software to publish. Every information related to your product needs to be carefully overlooked and observed under your mind’s senses. Therefore, these were the six steps to make you are listing the first product. All levels need to be done under-provision and might not take more than half an hour. Always remember, this procedure is essential in setting your profile of MercadoLibre as it needs to be completed before jumping to the next one. MercadoLibre offers you a lot more services for both sellers and buyers; thus, this would be a worthwhile and rewarding decision for your life in the e-commerce business and sector. E-commerce has reached every nook and corner, and MercadoLibre has played its integral part in transforming the roots. How to sell on MercadoLibre: Pro Tips To begin with, selling on MercadoLibre is a hell of a task. Ranging from the obstacles in digital marketing, you need to have the precise assistance of a pro or proficient expert. These tips 12 would help you to counter your concerns and get growth in Mercado Libra and e-commerce sector. Mercado Libra utilizes its tactics and working methodologies to get selling to go on a run. Therefore, you need to remember these tips and tactics to get successful and have prosperity on our platform. Bestsellers The bestsellers are made through their success in work and the experience they achieve in the following annum. The Mercado libra allows you to surf more than 150+ categories and thousands of subcategories too. Therefore, you need to have full composed knowledge of choosing the types as some are more rewarding and compatible than the other ones. The categories like lifestyle, electronics, groceries, gadgets, technology, and accounting are much more accessed and sold on our platform. Therefore, as Pro tip, you need to get along these categories more than often if you are a beginner or newcomer here. These would benefit you a lot and bring about a change in your prosperity and business growth. Automatic Transformation Likewise, the selection of a category, the automatic transformation is also impeccable and conducive in the Mercado Libra. As you can choose a supporting language on your product description and info, the electronic option allows the buyer to set the corresponding language. This helps in several ways as more clients are from Latin America, so they include Portuguese, Spanish, and English. As a result, this proves beneficial for the buyer to know the details and description of his desired language. However, it is better to choose your style and get along with it more comfortable, but if you want to get entertained by the amenity and amalgams, then this option is undoubtedly made for you. Language changing is done automatically so you do not need to surf the customer help area or waste your valuable time on this issue and concern. Reputation Reputation plays a significant role in setting up your profile. The rating system is done under the buyer review on your project. It could be neutral, positive, or even harmful. Therefore, maintaining your positive rating is best as it describer your rank on the marketplace and maybe a source of trust and belief for the buyer. If an order gets canceled or is not encouraged by the buyer, then you get a neutral or negative review. Most countries like Argentina can have only 3%, and Chile and Mexico can have 5%. So, as a result, you need to have full focus on not letting negative reviews get higher; the more it would go then the more problems would be designed for your reputation is an essential part of captivating the buyers and showing them your dominance in the field. SKU If you are an expert or have been working for a prolonged period, then you can have an unlimited number of SKU. You can add untold numbers of descriptions and have many more 13 valuable options like unlimited images too. But for the newcomers or beginners, you get certified and maximum amounts of SKU. Therefore, if you need to heal this concern, then you need to get to the customers’ help section and post a request for a legitimate purpose. This needs to be done to get feasibility to unlimited numbers of descriptions and images of your products. The process has easy setup and installment, and you need to go and ask the company to help you sort out the problem. Final Thoughts Amazons and Ali Baba INC has been one of the final beneficiaries of the lockdowns that have blanketed much of the country -- and even the world -- since the COVID-19 pandemic began. Consumers turned to e-commerce in accelerating numbers to avoid leaving home for fear of contracting the virus. It was not just online sales that attracted the growing number of customers, as cloud computing got a boost from the trend toward remote work. Members of Amazon Prime, the company’s customer loyalty program, also enjoyed the benefits of streaming television from Prime Video and streaming songs from Prime Music. The proof was undeniable when Amazon reported its second-quarter results: Net sales soared 40% year over year, and the company generated more than $5.2 billion in net income -- even after spending an incremental $4 billion to combat coronavirus. As impressive as all that is, MercadoLibre will be an even better growth stock in the months and years to come. While e-commerce and digital payments are commonplace in the U.S., it is not so in Latin America, which is nearly a decade behind in terms of adoption. During the first quarter of 2020, online sales accounted for about 12% of total retail in the U.S., up from about 4% ten years ago. In Latin America, however, the number is far lower, representing just 4.2% of total retail in the region. This shows that MercadoLibre is still much earlier along the growth curve in its home market than Amazon. There is more. In the U.S., Amazon is unsurpassed when it comes to e-commerce, as the company dominates the online sales landscape. Estimates vary, but Amazon may have accounted for nearly half of all e-commerce transactions in the U.S. in 2019. That is a double-edged sword, however, giving the company fewer customers to convert. It’s also worth noting that, while the population of the U.S. stands at about 331 million, Latin America represents a much larger market, with a population of nearly 646 million -- or about twice that of the U.S., giving MercadoLibre a much broader base of potential future customers. 14 How do you want to pay for that? It is not just the nascent e-commerce market in Latin America that provides MercadoLibre with such an opportunity. It operates in an area of the world that is unique in terms of how consumers pay for purchases. MercadoLibre launched about 20 years ago in its native Argentina and quickly expanded to many of the other countries in Latin America. Research shows that roughly 70% of the population in the region does not have a bank account, and only between 20% and 55% use a credit card, though usage varies by country. Because of this new stumbling block, the company created Mercado Pago, a payment system modeled after PayPal. This allowed consumers to use a network of convenience stores and other locations to pay cash for their purchases; an advantage other competitors simply do not have. Mercado Pago became so popular that other online merchants were soon clamoring to deploy it on their websites as a payment option, giving MercadoLibre a cut of each transaction. That rapidly spread to brick-and-mortar stores that wanted to cater to the payment preferences of their shoppers. This made Mercado Pago one of the fastest-growing fintech companies in Latin America. Pulling it all together MercadoLibre has been able to parlay its unique knowledge and hometown advantage into an industry-leading position in Latin America. The company is the undisputed e-commerce market leader in each of the major countries in which it operates in terms of unique visitors and the number of page views. Mercado Pago has been growing like gangbusters -- and that was even before the coronavirus pandemic struck, driving a sea change in consumer purchase and payment behavior. In the second quarter, MercadoLibre’s net revenue soared 123% in local currencies, accelerating from 71% growth in the first quarter, due to the accelerating adoption of e-commerce and digital payments. This was driven by gross merchandise volume that soared 102%, up from 34%. To give those numbers context, Amazon’s net sales grew 40%, up from 26% growth in the first quarter. The ascent of Mercado Pago’s payments was even more impressive, with total payment volume up 142%, accelerating from 82% in Q1. A final word Do not get me wrong: I am not disparaging Amazon in any way. I am a shareholder, and Amazon is one of my most significant positions. I even recommended it recently as one of my favorites stay-at-home tech stocks to buy right now. Its lead-in cloud computing has thus far been insurmountable for the competition, and Amazon is slowly making headway in international markets. As the chart above shows, Mercado Libre’s stock has outperformed Amazon’s over the past several years. I believe that the combination of factors outlined above favors MercadoLibre over Amazon as a growth stock. 15