According to Reuters.com, the lockdown increased the number of smaller vendors searching for digital platforms such as MercadoLibre to continue selling their products and preserve cash flow. Therefore, the company has hired 200 direct employees and 2,500 third-party contractors since the second half of March 2020 to strengthen its logistics team and cope with a higher volume of deliveries. As a result, the company announced an increasing number of consumers shopping online in April 2020.
Besides, the company’s net revenue grew by 37.6%, in the first quarter, compared to 2019’s USD 652 million. Only in Brazil, which accounts for 61% of the total, its net revenue climbed by 31.4% in US dollar terms and 55% in Brazilian real terms year-on-year, Reuters stated.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now