Ecommerce Atlas

Region Deep-Dive

Latin America

Top languages in this region: Español · Português · English · Français · 中文

Related platforms are listed under Platform intelligence. Every figure below can be checked in the expanded source text. Platform intelligence.

Key Research

Source notes and the methodology audit that underpin this region.

Research notes

LATIN AMERICA ECOMMERCE — RESEARCH FINDINGS

Research notes

Top Ecommerce Platforms in Latin America, Middle East & Africa

Methodology · Audit

Global Ecommerce Data Sources & Methodology

QHow large is the Latin America ecommerce market, and how is it growing?

~$150–200B (2024); 2026 expected to exceed $200B; Brazil online retail 2025 R$235B (~$40–43B); Mexico 2025 MX$941B (+19.2%)

High single digits to double digits (eMarketer: one of the world's fastest-growing ecommerce regions); Mexico is expected to lead LatAm growth in 2026

Expand: original global-report section (country/sub-market detail and sources)

6. Latin America

6.1 Regional Overview

6.2 Brazil (largest market)

6.3 Mexico (regional growth engine)

6.4 Argentina · Chile · Colombia

6.5 Platforms

QWhich are the Top 5 ecommerce platforms in Latin America, and how do they rank?

Mercado Libre is the undisputed leader (GMV ~$65B, 120 million+ buyers); Shopee/Amazon rank #2/#3 in Brazil traffic; Magalu and Casas Bahia shrinking/restructuring ecommerce; Temu/Shein are the cross-border wildcard (Temu Mexico traffic #1; Asian cross-border combined ~41.5% in Brazil).

Disclosed/estimated share (0 / 6 platforms)Bar length shows rank order only — no comparable share figures
Expand: original Top-5 report section (GMV / revenue / users / positioning tables)

9. Latin America

Ranking basis: GMV/revenue disclosures (Mercado Libre, Magalu, Casas Bahia) + Brazil traffic share (Shopee, Amazon; Conversion/SimilarWeb: 2025 Brazil ecommerce visits 33.9 billion, MELI #1 at 15.3%, Shopee #2, Amazon #3) + qualitative standing. Latin America is most complete for Brazil data; Mexico is counted separately (Temu #1 in traffic).

Rank Platform Company Key data Positioning & strengths
1 Mercado Libre MercadoLibre (NASDAQ: MELI) FY2025 GMV ~$65B; 120 million+ buyers; Q4'25 revenue $8.76B (+45%), GMV $19.9B (+36.8%) Latin America’s undisputed leader; Mercado Pago fintech synergy; owned logistics; Q4 Brazil GMV +35% (FX-neutral)
2 Shopee Sea Ltd Brazil traffic #2 (recaptured in 2025); Brazil GMV not disclosed ([GAP]); group Q4'25 GMV $36.7B Brazil is Shopee’s fastest-growing market; low price+cross-border+local logistics (SPX Express)
3 Amazon (.com.br) Amazon.com Brazil traffic #3; Brazil GMV not disclosed ([GAP]) Global marketplace+Prime logistics; sales and logistics partnership with Magalu; low-price strategy against Asian cross-border
4 Magazine Luiza (Magalu) Magalu (B3: MGLU3) FY2025 net revenue R$27.2B (about $4.7–4.9B, official earnings-document definition); Q4 gross profit R$3.3B (+3.1%) Brazil’s largest omnichannel retailer; MagaluPay finance; ecommerce deliberately contracted, stores carrying performance
5 Grupo Casas Bahia Casas Bahia (B3: BHIA3) 2025 GMV a record (value not disclosed [GAP]); debt cut 77%; Q4 credit sales a record Credit-driven lower-tier retail; ecommerce was the 2025 core growth engine; turnaround after restructuring
Wildcard Temu / SHEIN PDD / Shein Temu 15.9% of Mexico ecommerce (2025 Q2; full-year ranking unaudited); Temu+Shein Mexico combined about 40% (definition questionable); Brazil Asian cross-border platforms combined about 41.5% Cross-border low-price shock, but under pressure after Brazil tax hikes

⚠️ Definition note: the ranking mixes GMV (MELI/Magalu), traffic (Shopee/Amazon), and qualitative standing (Casas Bahia); Brazil is the primary lens — if Mexico is primary, Temu is #1 in traffic and the order differs. Brazil online retail 2025 R$235B (about $40–43B).

Sources: Mercado Libre official Q4'25 results — https://news.mercadolibre.com/en/financial-results-fourth-quarter-2025 ; Brazil traffic (Conversion/SimilarWeb via Chinese media) — https://www.moomooapp.com/hans/news/post/63166146 ; Magalu earnings — https://www.marketscreener.com/news/magazine-luiza-s-a-earnings-document-ce7e5fd2dc89f121 ; Casas Bahia Q4'25 — https://www.gurufocus.com/news/8723998/grupo-casas-bahia-sa-bspbhia3-q4-2025-earnings-call-highlights-record-gmv-and-strategic-debt-reduction-amidst-challenges ; Temu Mexico — https://mexicobusiness.news/ecommerce/news/temu-captures-159-mexicos-e-commerce-2q25

QWhat is worth watching?

  • Asian cross-border platforms combined ~41.5% in Brazil, but after 2024–25 Brazil tax hikes Chinese platforms saw their first traffic decline (Valor)
  • Temu 15.9% of Mexico ecommerce (2025 Q2), traffic #1; Temu+Shein Mexico combined ~40% (definition questionable)
  • Pix installment (Pix 4x BNPL) launched, driving payments; Brazil BNPL 2025 $4.66B (+14%); Pix 79.8 billion transactions in 2025
  • Magalu/Casas Bahia deliberately shrinking ecommerce, stores carrying performance—local giants entering a consolidation phase

QWhat are the key insights?

  • Ranking mixes GMV (MELI/Magalu), traffic (Shopee/Amazon), and qualitative position (Casas Bahia)
  • Brazil is the primary lens; if Mexico is primary, Temu is traffic #1 and the order changes
  • Instant payments such as Pix are the core driver of LatAm ecommerce growth

QAs a merchant, how should I choose and lay out my e-commerce business here?

A practical guide for merchants: which platforms to prioritise in this region, in what order to enter, and what to watch out for.

How to choose a platform

Latin America is the fastest-growing e-commerce region globally (Brazil is the No. 1 primary market). Mercado Libre (GMV of about US$65 billion, Mercado Pago financial services + in-house logistics, covering 18 countries) is the absolute leader, suitable for full-category and brand sellers; Shopee Brazil (No. 2 in traffic, low price + cross-border) suits price-sensitive standard products; Amazon (.com.br) has strong infrastructure but lags in share; and Magalu and Casas Bahia are omnichannel/credit-driven retailers. Decide your country first: the Brazil vs. Mexico landscapes are completely different (Temu is No. 1 in traffic in Mexico).

Entry path & rollout

Suggested path: make Mercado Libre your first choice (dual sites in Brazil + Mexico, Mercado Envios logistics + Mercado Pago collections; Pix instant payments and installment plans are local essentials); add Shopee for low-price standard products; and evaluate Shein for fashion. Brazil's import duties are high (roughly 60% on cross-border small parcels), so local inventory and a local entity are the long-term strategy; we suggest building a working model in Brazil first, then replicating to Mexico and Argentina.

Watch-outs & risks

After Brazil tightened import taxes, Chinese cross-border platforms lost ground across the board; Pix and installment payments (parcelamento) are payment infrastructure — without them it is hard to acquire customers; MELI's commissions and financial fees run high (Argentine sellers protested combined rates exceeding 20%); currencies fluctuate (real/peso); local taxes are complex (state taxes such as ICMS); and the contraction of Magalu/Casas Bahia's e-commerce reflects Brazil's weak consumption and interest-rate environment.

Platform quick-fit table

What type of seller each Top platform in this region fits best (click a platform for the full merchant analysis):

PlatformBest-fit sellers
Mercado LibreBest suited to: brand and factory sellers with Brazil/Mexico as core markets, especially mid-to-high-ticket goods (3C, appliances, fashion, home) that need Mercado Pago installments/BNPL to lift AOV, and sellers with local-warehouse fulfillment (Full) capability. Not suited to: small sellers that only want lightweight cross-border direct mail with no localization investment, or low-margin white-label sellers sensitive to high fees.
ShopeeSuited to: sellers of price-competitive, volume-driven mass-market categories (apparel, FMCG, home, electronics accessories), especially small/mid sellers wanting to spread across multiple Southeast Asian sites; sellers with cross-border supply chains can also set up in Brazil in parallel. Not suited to: sellers that depend on high AOV/brand premium and lack low-price capability — for them Lazada (brand mindshare) or a standalone site is more advisable.
Amazon (.com.br)Best for brand/factory sellers with a stable supply chain who can carry FBA inventory and advertising costs, and for merchants with a trademark who can enroll in Brand Registry. Full-category coverage; standardized categories like 3C, home, and baby products have clear volume advantages. Not suitable for thin-margin, undifferentiated, or cash-strapped newcomers — fees and competition will quickly eat gross margin; cross-region expansion (Europe/Japan/Middle East, etc.) requires simultaneously addressing VAT and local certifications.
Magazine Luiza (Magalu)Best suited to: brands and sellers with a local Brazilian entity/warehouse in electronics, appliances, furniture and home categories, especially mid-to-high-ticket goods that rely on parcelamento installments to lift AOV. Not suited to: cross-border newcomers without local Brazilian operations that depend on platform traffic, or price-sensitive low-margin categories (the platform has abandoned the price war).
Grupo Casas BahiaBest suited to: local Brazilian suppliers and brands of essential categories (appliances/furniture/phones) that can absorb the installment model and long payment terms, i.e., high-risk-appetite sellers fully aware of reorganization risk. Not suited to: cross-border newcomers seeking stable remittance and low risk, non-essential categories (fashion/FMCG), or sellers that cannot handle Brazilian local tax and product certifications.

See all platform analyses →

QWhere does this evidence come from?

Underlying research documents for this region (with full source URLs):

Research notes

LATIN AMERICA ECOMMERCE — RESEARCH FINDINGS

latin_america_ecommerce_research_findings.md

Research notes

Top Ecommerce Platforms in Latin America, Middle East & Africa

research_top5_ecommerce_latam_mea.md