Mercado Libre is one of the most popular sites in Mexico and generates thousands of transactions per day. However, there are still many entrepreneurs who wonder: How does Free Market work?since they are interested in taking advantage of this marketplace to sell in it and use it as a sales channel.
Mercado Libre is a retail site, that is, it works for the purchase and sale of products and services. Although it was initially focused on sellers who used the platform to get rid of something they no longer needed, it is now a great virtual showcase made up of professionals of all kinds and big brands.
In this article we are going to review the main characteristics of this famous marketplace and we will tell you What is MercadoLibre and how does it work?for both buyers and sellers.
Let us begin!
What is Free Market
Mercado Libre is a , that is, a buying and selling site that works like a virtual shopping mall.
At the beginning of its activities, Mercado Libre catered to one-off or occasional vendors who wanted to offer something they no longer needed.
Currently, it is a platform for specialized professionals, small shops and big brands to show their products to millions of buyers in Latin America.
In short, complementary that you can use to increase the turnover of your business.
Combining sales through marketplaces and social networks with your own online store is a strategy that will undoubtedly allow you to achieve .
How Mercado Libre works to buy
Now, how does Mercado Libre work to buy? Just follow these 6 steps to purchase your products:
- Go to www.mercadolibre.com, choose the country you are in, write the product or service you are interested in in the search engine or find it through the categories.
- Click on the listing and make sure the description, images, and price match what you’re looking for. Also, check if the payment methods are convenient for you.
- Choose the number of items you want and click the blue button that says “Buy Now”.
- If you are new, the platform will ask you to create a user. If you already have an account, log in with your e-mail and password. Next, select the payment method of your choice.
- Check your order details and confirm your purchase.
- Check the notification that will arrive in your Mercado Libre account with the status of your order, the delivery date and that’s it!
How it works to sell in Mercado Libre
To sell on Mercado Libre you need to have an account and configure the products or services you want to offer, as well as the payment and shipping options.
To upload the products you are going to sell you can choose between free or paid publications. The latter offer better positioning and greater visibility in the search results of the platform.
Type: You can consult complete to know how it works to sell in Mercado Libre.
🎯 If what you are looking for is to build a solid brand, we invite you to: with our platform you will be able to create an exclusive online store for your brand and use the marketplace as a complement to your business.
How to create an account in MercadoLibre
Being a Mercado Libre user is very simple, you just have to:
- Enter the Free Market website.
- Click on the “Create your account” option.
- Complete your personal data: name, surname and email.
- Create a password.
Now, if you have a brand, perhaps you should consider registering as a company by following these steps:
- Enter in .
- Complete the tax data, company name and email.
- Create a key.
- Provide all the business information that the platform will ask you for after generating the account.
Consider that if you already have an account in MercadoLibre and want to register as a company, you can request a change of ownership from: My data > Personal data > I need help > Change the ownership of my account.
How to publish a product
- Sign in with your e-mail and password to your Mercado Libre account.
- Choose the type of product you are going to publish.
- Select the category to which what you are going to publish corresponds.
- Complete the description of your product (title, photos, general characteristics, etc.).
- Define a price, publication type, shipping and payment method.
- Confirm your post.
What is the Mercado Libre rating system?
The qualification system is the method by which the platform measures your reputation, that is, the place you occupy within the ranking of sellers. And it is represented through the following colors:
The red color is equivalent to the lowest reputation, while the green represents the highest and allows you to be Market Leader, the highest level of reputation you can have.
To check your reputation go to My account > .
What does Mercado Libre take into account to calculate reputation
Mercado Libre calculates your reputation according to the experience you provide to your buyers. Therefore, when you reach your first 10 sales, the variables that will be taken into account to calculate it are:
- Sales with buyer’s claims: To qualify as green, your claimed sales cannot exceed 2% of total sales.
- Time to deliver your products to the mail: to keep you in the green, your dispatch time with delay cannot be greater than 15% of the total sales. When you use Mercado Envios, MercadoLibre will compare your time with that of sellers in each category. If you send it within 24 business hours, it will not affect your reputation.
- Cancellations made by the seller: to calculate this variable, the platform will take as a reference all the sales that you cancel and that have not received a claim. To be a green rated seller, you cannot cancel more than 4% of your sales.
What reference times does Mercado Libre use to calculate reputation?
To calculate your reputation, the platform will take into account the total sales you have made in the last 3 months, plus the days of the current month. If that amount is less than 50, it will be based on the total sales of the last 5 years.
Some exceptions to measure reputation
claims
Claims initiated when:
- The buyer regrets the purchase.
- The buyer wants to exchange his product from the Auto parts or Clothing, bags and footwear categories for another size or model.
Time to deliver products
To calculate this variable, Mercado Libre will not take into account the sales you make in the art and crafts categories, nor the sales of wedding rings or personalized toy kits.
Total sales
MercadoLibre will not count sales that were canceled because the buyer changed his mind.
How much does it cost to publish and sell on Mercado Libre?
that you can pay to publish and sell your product on the platform.
Although you have the possibility of doing it for free, with the premium option the visibility of your publication will increase and it will stand out among the large number of Mercado Libre products.
Therefore, we advise you to choose the type of publication that best suits your budget (free, classic or premium) and the characteristics of the item you are selling.
For example, if it is something highly required such as cell phones or cameras, you will probably have to invest less money than if they were more exotic products or those that are not in high demand.
How does the Mercado Libre app work?
The Mercado Libre mobile application replicates most of the functionalities of the desktop version for both buying and selling.
With the app you can, among other things:
- Search for products, apply filters and browse through the same categories.
- Review comments and reviews from other buyers.
- Buy and receive various notifications: responses from the seller, follow-up of your product or when you made a sale.
- Save products in the cart, mark favorites and keep your search history.
- Sell ​​and send what you offer to your buyer, thanks to the integration with Mercado Envios.
Pages like Mercado Libre
In addition to Mercado Libre, there are other marketplaces in Mexico that are very popular.
- amazon
- eBay
- Facebook Marketplace
conclusion
Now that you know what it is and how free market works, analyze if you want to add this platform to your . Remember that the more successful transactions you make, the more positive ratings you will get and improve your reputation within the site.
Did you know that if you have an online store created in Tiendanube you can sell in Mercado Libre through the applications or ? In this way, you will centralize and synchronize all the operations of your online store on a single platform, facilitating the management of your business.
Good sales!
Facebook Comments
Disqus