Sorry Bezos, Brazil Already Has an Amazon. It's MercadoLibre

When Amazon.com Inc. announced it was rolling out its popular Prime delivery subscription service in Brazil last month, shares of local e-commerce competitors tanked. Investors also got jittery in 2017, when the world’s largest online retailer launched a marketplace to sell electronics. In both cases, the shares recovered quickly once investors reminded themselves of a durable truth about Brazilian e-commerce: Local firms have a firm grip on the market and are in little danger of succumbing to the American interloper.

So it goes for Amazon in Latin America’s largest economy. Seven years after entering Brazil, the Seattle-based company is battling to gain traction against a handful of local competitors with extensive delivery networks, strong brands and a deep understanding of Brazilian shoppers.