The e-commerce environment is expanding as swiftly as the world is shrinking in this age of digitization. No one wants to be confined vicinity and get restricted, how could the e-commerce merchants then? Selling in one’s own country is no more the only practice that merchants want to undertake. Expanding to the neighboring countries is one thing that sellers are giving thought to. That is what Cross-Border Trade is all about – selling in the neighboring country. MercadoLibre is an eCommerce company and to sell on the marketplace means that you may sell in many countries and give your brand a kind of exposure that every online merchant wishes for.
Let’s start and go through all about this Argentine e-commerce company and how ‘you’ can sell on MercadoLibre.
A quick glance through MercadoLibre
- MercadoLibre is the most popular e-commerce site in Latin America when it comes to the number of visitors.
- It is the largest e-commerce ecosystem in Latin America.
- MercadoLibre Global Selling allows sellers to sell on MercadoLibre and cover the whole of Latin America and its populations.
- MercadoLibre has its operations in Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Mexico, Ecuador, Guatemala, Honduras, Peru, Panama, Uruguay, and Venezuela.
- In the year 2019, MercadoLibre marketplace had 320.6 million registered users on the company’s marketplace.
- MercadoLibre generated revenue of a whopping 1.4 billion US dollars.
- In 2020, the net revenue of the MercadoLibre marketplace was 1.12 billion U.S. dollars.
Net revenue generated by MercadoLibre, Inc. from 2012 to 2019 (in million U.S. dollars)
- As per the report of Statista, in the year 2019, there were 320.6 million registered users who made one purchase (at least) on the company’s e-commerce platform.
- As recorded in the year 2019, MercadoLibre had 4900 employees.
Why Sell On MercadoLibre Marketplace?
- It has generated 1.2 billion US dollars in the first quarter of 2020, up 603 million dollars from a year earlier.
- Unique active visitors grew 45.2% in the second quarter of 2020.
- Total Payment Volume reached $11.2 billion through Mercadopago.
- MercadoLibre made Paypal available for cross-border transactions in Brazil and Mexico.
- GMV has reached $5.0 billion, with a growth of 48.5% in USD.
- MercadoLibre live listing reached 289.0 million with a 26.2% growth.
MercadoLibre Global Selling
It selling allows the sellers to sell on MercadoLibre and cover the regions of Latin America. It allows the international sellers to feature their products on MercadoLibre, and expose them to customers based in Latin America. The marketplace portal is the 7th most visited retail website in the world.
It is a leading retail company in the market of over 550 million people in the region which has one of the world’s fastest-growing penetration rates. MercadoLibre renders the buyers and sellers alike a robust trading domain for creating a large and growing trading community.
What can you sell on MercadoLibre?
MercadoLibre is a huge e-commerce site and has multiple categories to sell under for those who want to sell on MercadoLibre via its MercadoLibre Global Selling Program. However, the top categories under which a merchant may sell on MercadoLibre are:
- Electronics and Accessories
- Fashion
- Home and Garden
- Car Accessories
- Sporting Goods etc
As per MercadoLibre, the lower Average Selling Price (ASP) items (which are for less than USD$50) and lighter items (less than 2lb) convert faster and can help new sellers build their reputation.
How to sell on MercadoLibre with CedCommerce!
To empower the sellers to master the selling in the Latin American region, CedCommerce brings to them the advanced Integration Extension for MercadoLibre marketplace. Using CedCommerce’s MercadoLibre Integration Extension, sellers who have an online store on frameworks such as Magento, WooCommerce,etc may easily integrate their store with MercadoLibre and become a MercadoLibre merchant.
By doing so, the sellers may feature their products on MercadoLibre, sell their products across Latin America, and become a MercadoLibre seller.
Here is the step-by-step process on how you can become a MercadoLibre merchant, integrate your store with MercadoLibre, and sell on the MercadoLibre marketplace.
Step 1: Install the MercadoLibre Extension to Store Admin Panel
The installation of the MercadoLibre Integration Extension is the first step that needs to be done in order to start selling on MercadoLibre.
Step 2: Configure the Settings
Once the MercadoLibre Integration Extension has been installed, the sellers need to configure the marketplace settings. This will work as the foundation of the integration process and a seller may select/enter necessary details relevant to the product while doing the configuration.
Step 3: Create Profile
After the configuration is completed, a seller needs to create a profile and assign a similar type of product to that profile. By doing so, it becomes easy for a seller to upload the products to the marketplace the next time as the same kind of products can be added to the profile for the upload.
With the MercadoLibre Integration extension, sellers who wish to sell on MercadoLibre have the authority to map the category and attributes of the products that they are going to sell on MercadoLibre. By mapping the category and attributes of their products with that of MercadoLibre’s category and attributes, they feature a product in the category most relevant to it on the marketplace.
Step 4: Upload products on MercadoLibre
Once you have created a profile for your products, you may send your products to MercadoLibre from your admin panel.
Step 5: Manage the product listings on MercadoLibre
After all the necessary actions have been taken till this step- configuration, profile creation, product upload, and assigning important details to the inventory- a seller using the MercadoLibre Integration can easily manage the products on MercadoLibre marketplace from the admin panel.
Step 6: Customers place the order and payment gets processed
Now that your product gets featured on the MercadoLibre marketplace and turned into a MercadoLibre merchant. Your products are ready instantly to be ordered by online customers across the countries where the Global Selling program is applicable. Once the order has been placed, the payment is received by MercadoLibre via the official payment gateway of the marketplace i.e. MercadoPago and the order will be imported to MercadoLibre. The marketplace generates the payments to the MercadoLibre merchant every 15 days.
Step 7: Order gets imported to your admin panel
The MercadoLibre Integration extension acknowledges and accepts the orders on behalf of the MercadoLibre merchant and gives the merchant the liberty to ship the order from the admin panel.
MercadoLibre Seller Fee
As per the MercadoLibre marketplace, under the MercadoLibre Global Selling program, there is no listing fee to list the products on the marketplace. So the MercadoLibre global selling fee is something sellers don’t need to worry about if they want to sell on MercadoLibre. But, the marketplace charges 17.5% and 16% from Mexico and sellers from other countries respectively when the sale is made.
Other Benefits by CedCommerce
Providing the sellers across the globe ease to sell on some biggest marketplaces, the benefits that a seller enjoys while using our MercadoLibre Integration Extension are:
- To help you with more convenience, we have developed a well-researched and tested API Integration to suit your specific business needs.
- We provide assistance 24×7 via Skype, Live Chat, emails, or over a call.
- We provide custom business solutions for you.
- Offer FREE consultancy services.
- We extend Real-Time Support, Quick Installation, and Dedicated After-Sales Services.
- Our extensions are advanced yet cost-effective.
Closing Remarks
Summing it all – the MercadoLibre marketplace is open to all who are ready with the selling tools and strategies. It has already started the global selling operations that are pleasing for online sellers. Now it’s time to grab the flowing opportunities to utilize the largest online platform in Latin America. I hope the above-mentioned information will help you to make your way easier. For more information or direct interaction with our marketplace experts, you can leave comments below.