MercadoLibre to invest over $700 million in Brazil as coronavirus boosts e-commerce
SAO PAULO (Reuters) – Latin American e-commerce company MercadoLibre is one of the few firms not scaling back spending amid the coronavirus pandemic and plans to move forward with a planned 4 billion reais ($717 million) investment in Brazil this year, an executive told Reuters on Tuesday.
After seeing a sharp drop in demand in the second half of March, the Argentina-based company reported strong sales in April with an increasing number of consumers shopping online while social distancing measures were in place.
By Aluisio Alves via WKZO