MercadoLibre invests US$50M in free shipping rewards program

MercadoLibre, one of Argentina’s four unicorns, has recently announced the launch of their rewards program in Argentina, which will provide discounts and free shipping to loyal customers. The initiative, called MercadoPuntos, has already been made available in Chile, Brazil, Mexico, and Colombia.

The investment will be used to develop a program that provides free shipping for purchases above US$50 (ARS$1000) for loyal customers. MercadoLibre then plans to add a free returns program, as well as a discount system.

In 2017, MercadoLibre had over 34 million users in Latin America, generating over US$1.3B in revenue – 66% higher than 2016. Sean Summers, vice president of MercadoLibre, explains that up to 30 million users already have access to the program. In areas where the initiative was launched previously, new users have grown by 30%.

In the 25 days since the program was launched in Argentina, 40% of shipments have been sent through the free shipping program.

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