RIO DE JANEIRO, BRAZIL - Latin American e-commerce giant Mercado Libre has benefitted immensely from the pandemic, as stay-at-home orders forced consumers to buy online. According to our inaugural forecast on Mercado Libre, the online marketplace’s sales will surge 46.5% in Latin America by the end of 2020, to US$20.51 (R$104) billion. And it still has room to grow in several key markets—even where it already dominates.
The majority of Mercado Libre’s sales come from Brazil. In 2020, its e-commerce business there will grow 39.0% to reach US$10 . . .