The advantages of selling through official stores in Mercado Libre
What is Mercado Libre?
Founded in 1999, Mercado Libre is the leading eCommerce platform in Latin America. With a presence in 18 countries including Brazil, Mexico, Colombia, Argentina, and Perú, it hosts the largest online commerce ecosystem in the region. The platform has more than 85 million active buyers and receives over 550 million visitors per month. The majority of users are from Brazil, which represents over 55% of total sales. Argentina and Mexico also represent a significant portion of Mercado Libre’s sales, with 25% and 15% respectively.
Despite the reopening of traditional retail across Latin America after the pandemic downturn, Mercado Libre’s growth remained resilient. The number of unique buyers continues to increase by 10% year-on-year. This impressive growth is driven by the outstanding user experience offered to consumers, which is measured by several factors such as selection, price competitiveness, logistic services, customer service, free shipping, and technology. Mercado Libre has invested heavily in all these aspects, to provide a great experience for consumers. All of this led to higher shopping conversion rates.
Mercado Libre Success Factors
Mercado Libre provides users with a robust online marketplace to sell and buy a wide range of products. Additionally, it enables users to pay easily and securely with their own payment system, Mercado Pago, addressing Latin America’s cultural and geographical payment issues.
This marketplace is designed to help sellers earn the trust of consumers. It allows them to build a strong reputation online, as it assigns a score to sellers based on factors such as successful sales, customer satisfaction, and cancellation rates, which helps to ensure that buyers have a positive experience.
Mercado Libre also offers sellers the opportunity to benefit from their own marketing efforts. For example, Mercado Libre hosted different online events such as Double 11, Black Friday, Meli Trends, Beauty Festival, Big Brands Festival, and Hot Sale, all of which were helpful in boosting GMV for specific product categories.
Mercado Libre GMV in 2022
After another successful year, Mercado Libre reported great results measured by a high GMV. Here is a short summary of the 2022 results.
As is reported in First Quarter Letter to Stakeholders, Mercado Libre drove sustained growth during the first quarter of 2022. Gross Merchandise Volume (GMV) was almost 7.7 billion USD, growing approximately 27% compared to 2021. Items sold in Q1 reached almost 267 million units. With nearly 330 million live listings in the first quarter.
The second quarter of 2022 marked another quarter of records for Mercado Libre. Total GMV reached 8.5 billion USD, growing almost 22%. It reached 40.8 million unique buyers, breaking the record it achieved during the peak shopping season of 2021’s fourth quarter. Overall, Mercado Libre sold over 275 million items this quarter.
The third quarter of 2022 was yet another successful period for Mercado Libre. reaching an all-time high of $8.6 billion in Gross Merchandise Volume.
Official stores in Mercado Libre
Mercado Libre’s official stores give certain sellers exclusivity in selling one or more brands throughout the marketplace. To achieve this, sellers must have the brand’s permission to sell their products on this platform, as well as communicate with a commercial advisor.
Official stores must assume total responsibility for consumer complaints, and therefore, providing a great pre-purchase and post-purchase service is essential.
The importance of selling through an official store in Mercado Libre: what are the benefits?
Sellers can start enjoying multiple benefits as soon as they start offering their products under an official store.
First and foremost, selling your products through an official store gives you a higher volume of sales. Official stores attract more consumers. Products are better positioned and prioritized over products from unofficial stores. Besides, Mercado Libre has a list of all the official stores on its page, which gives them greater relevance and makes them easy to find.
Second, it brings more exposure. For sellers who are new to Latin America, selling products through official stores brings more visibility. Sellers achieve a fairly good positioning almost immediately. On the contrary, for those who register on Mercado Libre on their own and do not have an official store, it can take up to 6 months to 1 year to position themselves on the first pages.
Third, official stores give consumers more confidence to purchase. Most consumers prefer to buy from official stores since they do not trust new sellers who have only a few sales. Having an official store is the best way to establish a trustworthy online presence and increase sales.
Start selling in nocnoc’s official store in Mercado Libre!
Attention sellers! By enrolling in nocnoc’s Seller Center you can start selling in Mercado Libre and other top marketplaces in Latin America within 48 hours, with zero upfront costs.
nocnoc official store has a solid reputation and concreted many sales in the past months. As soon as you sign up, and we approve your account, your products will have the highest exposure possible from day one.
nocnoc takes care of all the legal, marketing, customs, delivery, and cancellation issues for you, so you can focus on growing your business. You’ll have access to 15 different marketplaces and the ability to sell to over 485 million consumers without any initial investment.
Sign up today and one of our specialists will be in touch to get you started.