Mexico Business News | Online Article
04, July 2022
Q: What future e-commerce trends does Elevva forecast for the Latin American market?
A: There are numerous opportunities for e-commerce in Latin America as this channel grew exponentially during the pandemic. However, there are also challenges ahead. The fintech startup ecosystem will play a key role in facing these challenges because existing payment limitations restrict growth. But we expect to overcome these challenges in the next few years. Our team has an e-commerce background and we all see the same opportunities ahead and believe we have what it takes to make the most of them.
Q: How does Elevva help clients boost their business and how do these partnerships benefit Elevva?
A: Elevva’s founding mission is to accelerate our partners’ business. Using our resources, we leverage their knowledge to boost their sales and grow their business. We create an innovative community of partners to continuously build the best possible team. The seller’s knowledge plays a key role in the strategic set-up, follow-up and implementation of the new business model, which is later improved through technology. We are developing tools to digitize processes, which most small and medium-sized businesses lack. We also have access to capital, which is one of the main limitations to the growth of e-commerce. We are investing to be able to predict future demand and be prepared from the standpoint of inventory to maximize business growth.
We operate in three markets and have two more in sight to finalize our expansion throughout Latin America by 1H23. We will capitalize on synergies to make the most of our operations, marketing and costs to scale up our business.
Q: How does Elevva’s five-week acquisition plan work?
A: Before starting the five-week acquisition process, we scout the market for partners because we are very selective of our allies. Our scouting process identifies and targets appealing businesses following a transparent and fair quality assessment. Some partners may not be familiar with our business model so we communicate with them to move forward together. We then put together a tailor-made business offering adapted to the seller, followed by a due diligence process, which we try to make as fast as possible.
During the first few months, we perform a business diagnosis and develop an action plan and a timeline. Then it is only a matter of working together to start capitalizing on opportunities. Our experience shows that the onboarding process can be done in five weeks but we can extend that to eight if necessary. The goal is to move as quickly as possible.
Q: What advantages does Mexico offer to Elevva?
A: The opportunity in Mexico is larger than in other Latin American countries because the market is bigger, at least in comparison with Chile and Colombia. One of Mexico’s largest advantages is marketplace diversity. There are also opportunities to improve sales and bring the best results for both companies and consumers. In Mexico, transitioning to e-commerce will give customers access to better costs, products, prices and buying experiences as a whole.
Q: Do you plan on extending services to also work with traditional retailers?
A: Our business model initially only contemplated working with e-commerce and we have the tools to continue growing that segment. But we are flexible; if we come across a good opportunity with traditional retail, we might consider it. It is a matter of timing.
Q: What are Elevva’s plans for Mexico in 2022?
A: We will ally with at least 10 brands this year. We are also developing our own brands to complement our strategy. One of our main goals is to continue building the best team because that is our main differentiator. We will continue to build our technological tools to scale businesses as fast as possible. In our sales department, we will build a tech team. We have significantly progressed during the past few months. We have identified numerous opportunities in unexpected areas which means we have a great year ahead.
Elevva is a company that aims to revolutionize e-commerce, empowering brands and products through know-how, technology and investments based on a disruptive and innovative business model. Elevva seeks to partner with Latam’s leading retailers to scale and expand their businesses.