MercadoLibre has more than doubled its Brazilian fulfillment centers from 10 to 21 as part of a R$23 billion logistics investment plan, increasing same-day delivery coverage by 40% across additional cities. In March 2026, the company also announced a $3.4 billion Argentina infrastructure and fintech expansion plan, marking a 30% increase over its 2025 commitment.

During Q4 2025, Gross Merchandise Volume climbed 36.8% year over year, while the logistics network handled a 41% rise in shipment volumes and maintained delivery performance with nearly 75% of fast shipments delivered within 48 hours. Unit shipping costs in Brazil declined by 500 basis points, indicating emerging scale efficiencies.

Aggressive shipping subsidies, fulfillment expansion and first-party retail initiatives compressed operating margins by 500–600 basis points in Q4 2025. The Zacks consensus for Q1 2026 commerce revenues stands at $4.5 billion, up 36.6% year over year, highlighting that sustained margin improvement will hinge on converting the expanded logistics footprint into durable cost advantages.