MELI - The Amazon of Latin America Launched Its Own Version of Prime. Can It Boost the Stock?
2024-02-03 07:30:00 ET
MercadoLibre (NASDAQ: MELI) runs one of the largest e-commerce marketplaces in the world. It may not be a company U.S. consumers are familiar with, but its dominance in countries such as Argentina, Brazil, and Mexico has many people referring to it as the " Amazon of Latin America."
The company reported $41 billion in gross merchandise volume on its platform over the last 12 months, and it's achieved this impressive level of adoption, in part, due to its logistics network.
In the third quarter of 2023, MercadoLibre handled well over 200 million shipments, and of these shipments, more than half were delivered on the same day or the next day. Moreover, 80% of shipments were delivered in 48 hours or less. While this speed is somewhat commonplace in the U.S., this is a monumental achievement for Latin America.
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The "Amazon of Latin America" Launched Its Own Version of Prime. Can It Boost the Stock?