Latin American e-commerce giant Mercado Libre removed about 42,200 speculative ads from its website in the past two weeks, which contained irregularly priced products or misleading advertising. According to Valor Econômico, offers involved goods in high demand amid the coronavirus pandemic, such as protective masks and alcohol.
“There are people who take advantage at this time, we have received complaints and checked these ads”.Stelleo Tolda, co-founder and director of operations for Mercado Libre
After isolation measures were taken in markets where it operates, Argentina-based Mercado Libre saw an average increase of 34% in the sale of hygiene items, food and beverages between March 17 and 26, over the daily average observed in January and February. In beauty and personal care, the growth was 47%.
The company also took some measures to make its financial products more flexible due to the COVID-19 pandemic. For consumer loans, the maturity on March installments was postponed. Customers now can pay it at the end of the contract. Partner sellers who delay payment of their financing through the platform will not be charged.
The company also eliminated, temporarily, the commissions it charges on sales of 690 thousand products from 39 thousand salespeople in Brazil. This involves goods in greater demand such as cleaning and hygiene articles.
And although Mercado Libre is 100% digital, the pandemic will affect Mercado Pago, Mercado Libre’s payment division, noted Stelleo Tolda, co-founder and director of operations in Mercado Libre