在巴西，美客多被中国电商平台围剿

Core Insights - Temu has become the highest traffic e-commerce platform in Brazil, surpassing Mercado Livre and Shopee with 409.7 million visits in July, a 70% increase from June [1] - The Brazilian e-commerce market is experiencing intense competition, with Temu and Shopee applying pressure through pricing and logistics, while short video platforms like Kwai Shop and TikTok are also challenging Mercado Livre's market position [1][5] - Mercado Livre announced a significant investment of 34 billion reais (approximately 6.4 billion USD) in its Brazilian operations by 2025, marking a 48% increase year-on-year [1] Group 1: Competition Dynamics - Shopee has emerged as Mercado Livre's strongest competitor, capturing 40% of Mercado Livre's GMV in just five years since entering the Brazilian market in 2020, with an estimated GMV of 60 billion reais by 2024 [2] - Shopee's competitive edge lies in its free shipping and frequent promotions, with average product prices about one-third of Mercado Livre's [2] - In response, Mercado Livre has reduced fees for products priced between 79 and 200 reais by approximately 40% and lowered the minimum purchase for free shipping from 79 to 19 reais, although this has negatively impacted its profit margins [2] Group 2: Logistics and Infrastructure - Brazil's logistics infrastructure is inadequate, ranking 65th globally according to the World Bank, which affects transportation efficiency [3] - Approximately 72% of Brazilian consumers consider free shipping a decisive factor in their shopping decisions [3] - Mercado Livre has expanded its warehouse space to 2.3 million square meters, a 50% increase in one year, while Shopee has also increased its warehouse space by 54% to 897,000 square meters [3] Group 3: Market Trends and New Entrants - The entry of TikTok Shop and Kwai Shop into the Brazilian market adds further competition, with TikTok having over 111 million users in Brazil [6][7] - TikTok Shop's potential to attract small and medium-sized enterprises could pose a threat to Mercado Livre, which primarily serves this segment [7] - The competition from short video platforms is expected to reshape the Brazilian e-commerce landscape, similar to trends observed in Southeast Asia [6][7]