Latin America has almost twice the population of the U.S., and 25% more internet users, but it's way behind in e-commerce adoption. In 2019, the region's online spending was only 4.4% of total retail sales versus 10.9% for the U.S., even though both geographies have around 200 million online shoppers today. In case you were wondering, you'd have to go back a decade to 2010 for the U.S.'s e-commerce spending to match the penetration Latin America has today.
As the coronavirus pandemic introduced the world to social distancing practices, Latin Americans, like others, have flocked to online retailers to purchase everyday goods. The region's e-commerce leader, MercadoLibre (NASDAQ: MELI), has stepped up to meet this incredible surge in demand, and its most recent quarterly results are jawdroppingly amazing as a result.
Even though the stock has doubled year to date, this quality operator is the one stock I'd buy right now. Let's take a deeper look at why.
Source Fool.com