In today's video I look at how and why Sea Limited (SE -6.38%) is expanding into Latin America and what it means to MercadoLibre (MELI -5.30%), the current e-commerce giant in that region. Below I share a few highlights from the video.
- The fastest e-commerce sales growth for 2020 came from Latin America. So it makes perfect sense that this southeast Asian company is expanding to Latin America since there is so much growth potential.
- App Annie reported that Shopee, Sea Limited's e-commerce application, was in the top five daily downloads under the shopping category for the Google (GOOG -1.79%) (GOOGL -1.77%) Play store on June 26, 2021, in Brazil, Mexico, Chile, and Colombia.
- For 2020 Statista reports that MercadoLibre made up nearly a quarter of the total retail e-commerce sales in Latin America. MercadoLibre also has a significant lead on its international competitors because it manages most of its delivery logistics network.
Click the video below for my full thoughts and analysis.
*Stock Prices used were the closed prices of June 25, 2021. The video was published on June 27, 2021.