Macroeconomic challenges drive Shopee to retreat from much of Latin America

The big takeaway: Despite the near-term challenges, there’s still plenty of room for Latin American ecommerce to grow and transform the retail industry, said Matteo Ceurvels, eMarketer senior analyst at Insider Intelligence, Latin America & Spain.

• “While the company does plan to keep its cross-border operations in Chile, Colombia, and Mexico, its plan to cease local operations is short-sighted,” he said. “The way to grow any brand is to build a strong, localized presence amid fierce competition from other local and regional players in these markets such as Mercado Libre, Amazon, and AliExpress.”

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