Wednesday, March 22, 2023

Mercado Libre: Your Entry Point To Latin American Markets

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Retail sales exploded last year, forcing experts to forecast an astounding $6.5 trillion global online sales projection for 2023. Merchants experienced this boom first hand when they saw that their reach grew exponentially, giving them the ability to not only expand their business turf statewide and nationwide, but also explore markets overseas. Millions saw this as an opportunity to get one foot into foreign markets.

Needless to say, specialized eCommerce agencies that offered Shopify and BigCommerce SEO services had to start offering international digital marketing packages, with Europe and China becoming incredibly attractive targets for merchants in the US.

However, many saw that there was a huge market waiting to be tapped right south of the border. Latin America is home to more than 635 million shoppers and is one of the fastest-growing eCommerce markets in the world. It is also the most accessible for US businesses as both regions are joined by land, and share coasts in both the Atlantic and the Pacific.

These factors resulted in a very attractive proposition for BigCommerce who just announced a partnership with Mercado Libre, the largest eCommerce marketplace in the region.

To put things in perspective, Mercado Libre registered a massive 71% user growth rate and a gross merchandise volume of $6.6 billion just last year.

BigCommerce´s recent association with Mercado Libre cleared the way for US-based merchants who want to capitalize on this successful platform.

To make the process more streamlined, BigCommerce launched a Global Selling Program that allows US-based merchants to easily showcase their products in 33 countries including Brazil, Colombia, Chile and Mexico.

If you have a BigCommerce store, you can go to your Channel Manager and connect it to Mercado Libre right away. Once your application is approved, you become a marketplace seller and can start doing business with millions of customers interested in your products.

The platform handles your shipping and fulfillment process surprisingly well. You can send your products to one of Mercado Libre´s fulfillment warehouses and they will take care of everything else. They also let you ship directly to consumers through their ready-to-print shipping labels.

For those concerned about financial or cultural barriers, BigCommerce and Mercado Libre have made it possible for sellers to list items and collect payments in US currency without having to worry about currency fluctuation. They also let you handle all of your processes in English while the platform automatically translates product descriptions and sales questions.

The platform works on a reputation system to make sure a buyer or seller is trustworthy. For sellers, reputation is calculated based on the number of complaints, canceled orders, and average handling time. This honor-based system has served as a powerful incentive for sellers to always offer the best shopping experience for their customers.

Of course, those worried about language nuances or having more direct communication with customers in Spanish-speaking countries might want to hire the services of a trusted BigCommerce SEO agency with a diverse content creation team. Like many other eCommerce platforms, Mercado Libre also offers merchants the opportunity to increase exposure with product ads. It goes without saying that having a team of expert content creators with a native mastery of Spanish and its regional variations will get you a long way when building your campaigns, and offering appropriate responses to your customer´s inquiries.

If you want to learn more about expanding your market to different regions, or need the help of a professional BigCommerce store to set up your Mercado Libre account and start selling your products right away, contact Genius eCommerce today.

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