MercadoLibre Inc has long dominated the online-shopping market in Latin America, but this holiday season, it finds itself in a fight to fend off rivals from both ends of the Pacific Ocean.
On one side, there’s Amazon.com Inc, a global behemoth with seemingly endless resources. On the other, Asian players like Shein Group Ltd and Sea Ltd’s Shopee are aiming to lure budget-conscious consumers with low-cost offerings. Brazil is the main prize: It’s Latin America’s biggest economy and offers lots of growth potential, with only around 15 percent of people there currently shopping online, according to research from Itau BBA.
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