You might be wondering, what is MadeiraMadeira?
MadeiraMadeira is a Brazil online marketplace that specializes in home products. Founders, Daniel Scandian, Marcelo Scandian, and Robson Privado started MadeiraMadeira in 2009.
The startup began with a specialty in flooring. They then proceeded to raise over 100 million from investors in 2012!
With investor backing, they were able to expand services to windows, doors, furniture, and home decor.
Online marketplaces, like MadeiraMadeira have increased in popularity since the start of COVID-19. With the pandemic, more and more people are shopping online since stores have been closed and frankly, they don’t have many alternatives.
Despite the pandemic shutting down other sectors, they have seized the opportunity to help their customers furnish and personalize their homes, without ever having to leave the comfort of their homes!
You might still be curious as to how MadeiraMadeira boomed in Brazil, so keep reading to find out how e-commerce has helped this company!
E-Commerce in Brazil
E-commerce was influential in their growth considering that they were able to attract other merchants to their platform. Therefore, customers can find all their home goods in one area.
MadeiraMadeira also seems to be leading Brazil in digital transformation. Many Brazilian companies are currently not taking advantage of online operations.
For context, there are still about 57% of Brazil companies that have no intention of using technology to progress their business.
Not to mention, it has become increasingly obvious that COVID-19 has pushed for an increase in online shopping. In Latin America, there was a 60% increase in goods sold online just this past year.
Between the need for safety and convenience during this time, Brazil’s e-commerce increased from 7% to 17% and then stabilized at 10% amidst the pandemic!
MadeiraMadeira has even implemented a few physical stores or showrooms so that customers may assess their products before final purchases online. Their company is using multiple aspects of the market to their advantage.
Appeal to Brazil’s Market
For companies looking to follow MadeiraMadeira’s example of e-commerce, it would be beneficial if they knew how to appeal to the customers of this market.
Learning what the customers of your market value most in transactions increases the relevancy of your business. Every market is different so get to know your audience!
When it comes to e-commerce, the people of Brazil value free and express shipping, among other things. MadeiraMadeira caters to what Brazil wants in e-commerce because they know what to pay attention to.
In 2017 MadeiraMadeira had their target revenue at $150 million! Not to mention the company has raised $190 million after gaining attention from investors like:
- Japan’s SoftBank Group Corp
- Velt Partners
- Brasil Capital
- Lakewood Capital
With all these new investments the company is now valued at more than a billion dollars! It pays to know and cater to the customers of your market.
Delve into Brazil’s E-Commerce
As you now know after reading this article, e-commerce is incredibly helpful in reaching a broader market. If you want to get the best out of e-Commerce for the Brazil market, contact us at email@example.com today!