The e-commerce market size of some Latin American countries in 2023 and 2027

The young population structure and high purchasing power in the Latin American market provide a solid foundation for the development of e-commerce. According to a report by Guolian Securities, approximately 67.46% of the population in Latin America will be between the ages of 15 and 64 in 2022, forming a "golden population structure". At the same time, Latin American consumers are less inclined to save and prefer instant consumption, with the popularity of installment payments further promoting e-commerce consumption. The penetration rate of e-commerce in Latin America has enormous potential for growth. During the pandemic, numerous online users were cultivated, and the market continued to expand.

The success of Chinese sellers in the Latin American market is not only due to market potential, but also lies in accurately grasping consumer demand. Thunder God Technology targets the esports laptop and accessory market, meeting the needs of Latin American esports enthusiasts; CUBOT has launched a three proof mobile phone to meet the high durability requirements of Latin American consumers; MyWinni, on the other hand, capitalized on Latin Americans' love for parties and focused on formal and party attire, winning market favor. Sellers conduct in-depth research to identify unmet market demands and achieve differentiated competition.

Faced with challenges such as logistics, sellers actively seek solutions. Meikeduo and other platforms provide intelligent warehouse management and delivery services, reducing the risk of lost goods and improving logistics efficiency. For example, since June this year, Meikeduo's Mexico and Chile sites have implemented an overseas warehouse capacity quota system, which intelligently allocates storage capacity based on inventory performance index and historical sales volume, and rewards high-performance merchants to avoid capital occupation and inventory stagnation.

Meikeduo Logistics Line

Meikeduo's investment in the Latin American market continues to increase. In March of this year, it announced that it will invest $2.45 billion in Mexico and $380 million in Colombia by 2024 for technological upgrades and logistics business strengthening. Its first quarter financial report showed a year-on-year increase of 36% in revenue, 21% in GMV, and a surge of 71% in net profit, demonstrating impressive performance. These data undoubtedly provide sellers with more confidence, and the Latin American e-commerce market is ushering in unprecedented development opportunities.