Business

Mercado Libre reports 13% growth in sales during the third VAT-free day in Colombia

On its behalf, Mercado Pago, Mercado Libre's financial arm, consolidated an increase in transactions carried out during the 3rd day

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  • Mercado Pago, Mercado Libre’s financial arm, consolidated an increase in transactions carried out during the day;
  • The e-commerce giant registered more than 5.5 million active sessions in the 3rd day.

The third VAT-free day in Colombia, which took place on Saturday, ended in a 13% growth in sales compared to the first two days for Mercado Libre, which had reported more than 1000% growth. The marketplace also recorded more than 4 million active sessions throughout the VAT-free days.

READ ALSO: Third VAT-free day in Colombia: Marketplaces surpass 1,000% sales growth

According to La República, the e-commerce giant registered more than 5.5 million active sessions, reporting an increase in platform traffic of more than 20% compared to the second VAT-free day, which is 3 times more than the traffic of a normal day within electronic commerce.

“Once again, we witnessed the power and relevance that e-commerce platforms are having in the country’s economic reactivation process. During this last day of the day without VAT, we had a growth in sales of more than 13% compared to the 2nd day, evidencing how more and more people change their consumption habits and prefer us due to the safety, comfort, and effectiveness that we offer them throughout their shopping experience,” said to La República Juan Camilo Pachón, Head of Mercado Libre Marketplace.

READ ALSO: Transactions in Brazil’s instant payment system have a rejection of 6.5%; similar to that of bank transfers

Mercado Pago, Mercado Libre’s financial arm, consolidated an increase in transactions carried out during the day. By the end of the 3rd day without VAT, the digital wallet showed 63% of transactions through credit cards, 28% through PSE (an e-commerce payment system in Colombia that facilitates the acceptance of electronic payment for online transactions), and 9% through other different payment methods.

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