Our industry model illustrates Meli's leading share across LatAm eCommerce; the backdrop in Brazil is competitive, while other countries are more fragmented. As a result, we see Meli leading with ~30% eCommerce market share in Brazil.

Our industry model illustrates Meli's leading share across LatAm eCommerce; the backdrop in Brazil is competitive, while other countries are more fragmented. As a result, we see Meli leading with ~30% eCommerce market share in Brazil.