CUTTING-EDGE COMMERCE

The performance of electronic commerce companies is discussed. MercadoLibre was already on a tear--with sales up nearly 60% last year--as the biggest player in Latin America's nascent but fast-growing e-commerce market capitalized on the region's expanding middle class and its increased ac...

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Bibliographic Details
Published in:Fortune 2020-12, Vol.182 (4), p.130
Main Authors: Abril, Danielle, Aspan, Maria, Barrett, Eamon, Bellstrom, Kristen, Clifford, Lee, DeCarlo, Scott, Dunn, Katherine, Elegant, Naomi Xu, Fry, Erika, Hackett, Robert, Heimer, Matt, Kahn, Jeremy, Kowitt, Beth, Lev-Ram, Michal, McGregor, Grady, Nusca, Andrew, O'Keefe, Brian, Pressman, Aaron, Rapp, Nicolas, Shen, Lucinda, Wahba, Phil, Wieczner, Jen, Zillman, Claire
Format: Magazinearticle
Language:English
Subjects:
Electronic commerce
Financial performance
Sales
Online Access:Get full text
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Summary:The performance of electronic commerce companies is discussed. MercadoLibre was already on a tear--with sales up nearly 60% last year--as the biggest player in Latin America's nascent but fast-growing e-commerce market capitalized on the region's expanding middle class and its increased access to the Internet. But the pandemic has only turbocharged the company's growth. Revenue in the third quarter was up 85% year over year to $1.1 billion. Canadian tech company Shopify, which helps provide merchants with a digital sales platform, has emerged as a key resource for local retailers looking to counter Amazon's e-commerce dominance. Lululemon Athletica bought home fitness system Mirror, telegraphing a longer-term move beyond apparel as it looks to continue the fast growth that has seen sales double to $4 billion in the past four years.
ISSN:0015-8259