MercadoLibre to Boost Investment in Brazil by 48%

Investment Plans - MercadoLibre plans to increase its investment in Brazil by 48%, from 23 billion reais (approximately $3.7 billion) in 2024 to 34 billion reais (approximately$5.8 billion) in 2025, focusing on logistics, technology, marketing, and increasing its staff by 14,000 to a total of 50,000 [1] - The company also announced a $3.4 billion investment in Mexico, its second largest market after Brazil [2] Market Performance - MercadoLibre reported double-digit growth year over year in unique active buyers and items sold, with unique buyers increasing by 24% to 67.3 million and items sold rising by 27% to 525.5 million [3] Strategic Goals - The Chief Financial Officer emphasized the importance of a solid credit card offering to the company's ambition of becoming the largest digital bank in Latin America, indicating continued investment in the platform despite potential short-term margin pressures [4] - MercadoLibre aims to leverage data from its extensive customer base to offer financial products such as loans and insurance, positioning itself as a dominant force in digital banking in the region [4] Digital Engagement in Brazil - Brazil has been identified as a global leader in digital engagement, with the highest number of activity days among consumers in core digital activities such as banking, shopping, and entertainment [5]