Amazon vs. MercadoLibre: A Comparison of E-Commerce Giants
Amazon (NASDAQ: AMZN) continues to lead the North American e-commerce market, while MercadoLibre (NASDAQ: MELI), a rapidly growing competitor in South America, is drawing increasing comparisons to Amazon. As of Q3 2025, Mercado Pago, MercadoLibre’s fintech arm, boasts 72 million monthly active users, a 29% year-over-year increase, alongside an 83% growth in its credit portfolio.
Latin America is identified as the fastest-growing e-commerce market globally, with MercadoLibre achieving 27 consecutive quarters of growth exceeding 30% year-over-year. In contrast, Amazon’s stock has underperformed the S&P 500 over the past five years, signaling a maturation phase of its business model.
