eCommerce - A Latin America eBay - MercadoLibre
Online shopping could not be easier and effective for the the Latin America online population since MercadoLibre.com is online. Today’s Post I’ll talk about this huge eCommerce Latin American company.
Mercadolibre.com is an eCommerce site created about ten years ago by a young man named Marcos Galperin. Marcos Galperin is a business student from the University of Stanford that saw an opportunity on the fast growing online population of Latin America, population that has hundreds of remote villages, lacking of mayor stores. Galperin could sell good directly to this prospects charging for the service. He saw an opportunity, he saw Mercadolibre.com
The Market and Sales. Elizabethtown full
MercadoLibre has become one of the most successful eCommerce sites n Latin America. The sales that come from the online transactions exceed 656 million in the first months of 2007, giving a revenue of 1.6 million. MercadoLibre has a large part of the Latin America online market. MercadoLibre has 20% of the online shoppers on their side. Only about 21% of the region’s population is online, compared with more than 70% in North America.
The Big Influence
Galperin has been influenced by . ecommerce pioneers, like eBay, which has now involved in its development for six years. Galperin took ebay as a main role model since day one. But he did the proper changes in order for it to work in Latin America. EBay’s influence is clear in MercadoLibre’s design, colors and the way it works at the moment to purchase a product. The merchants deal directly with their customers via message boards and are responsible for promoting, selling, and arranging delivery.
MercadoLibre ’s set price for products
Although MercadoLibre started doing almost everything like eBay’s, like an example: the “auction model”, it quickly followed Amazon’s lead on pricing. More than 90% of the items on MercadoLibre’s sites are sold at set prices. “MercadoLibre is actually just as much the Amazon of Latin America as it is the eBay of Latin America,” says American Technology Research’s Boyd. “It’s both.”
Mercado Libre is a fast growing company with lots of plan for the future. The Latin American online population is growing fast and MercadoLibre is taking full advantage of it.
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