This Argentine-born tech unicorn seeks to transform the way entrepreneurs and small businesses in the region access the digital market. With its recent expansion to Chile, the company aims to consolidate its position as a key player in the regional e-commerce landscape.
Born in 2011, in Buenos Aires, Tiendanube began with the premise of providing websites to small businesses that do not have the resources or the knowledge to do so independently and thus democratize access to electronic commerce for entrepreneurs and small businesses.
You could say they are succeeding, as in just over a decade, the company has grown to become a regional giant, serving more than 130,000 businesses in Argentina, Brazil, Mexico, Colombia and now Chile.
The platform offers a comprehensive solution for anyone to create and manage an online store without the need for advanced technical knowledge. From product integration and payment management to shipping coordination and connection to multiple sales channels, Tiendanube provides the tools necessary for entrepreneurs to compete in the digital market.
In April 2024, Tiendanube officially entered Chile, marking an important milestone in its regional expansion strategy. The decision to enter the Chilean market was not a coincidence: Chile has one of the highest levels of e-commerce penetration in Latin America, with 63% of consumers making purchases online, according to data from the Santiago Chamber of Commerce (CCS).
"We chose Chile as part of our big bets this year because it has an entrepreneurial ecosystem with enormous development potential," explains Augusto Otero, responsible for Tiendanube's Latin American expansion.
The company has invested more than US$ 10 million in its regional expansion, with the ambitious goal of impacting more than 15 thousand Chilean micro and medium-sized companies during its first year of operation.
Initial results are promising. In almost six months since its launch in Chile, Tienda Nube has experienced accelerated growth, with more than 600 stores created on the platform. "We have had a very good reception from local entrepreneurs and SMEs," says Otero.
"We want to continue growing to reach more and more brands so that they can boost their sales by creating an online store in a simple, agile and accessible way through our platform," he adds.
SERVICES FOR SMALL CLIENTS
Tiendanube's success lies in its ability to simplify a process that has traditionally been complex and costly. The premise is that creating an online store, which previously required significant technical knowledge and a considerable investment, is now within reach of any entrepreneur with an idea and a product to sell.
"Our aim is to reduce the barriers to entrepreneurship and to make business management easier," explains Otero.
This philosophy is reflected in the platform's pricing structure, which starts at US$6 per month, a rate that is more than affordable for most startups.
But Tiendanube goes beyond simply providing a technology platform. The company also offers a range of educational and training resources to help entrepreneurs navigate the complex world of e-commerce. From video tutorials to informative blogs and webinars, the firm wants to be a sort of one-stop shop for the merchant.
Today, the company has built a robust ecosystem of over 300 technology partners in the region, offering complementary solutions in areas such as digital marketing, logistics and data analytics. This holistic approach allows entrepreneurs to access a complete set of tools to grow their businesses online.
The company is investing heavily in research and development, exploring new technologies such as artificial intelligence to improve the user experience and provide valuable insights to marketers.
Regional expansion also presents its own challenges. Each Latin American market has its own peculiarities in terms of regulations, consumer preferences and competitive dynamics.
Tiendanube has adopted a localized approach, with dedicated teams in each country to ensure that the platform adapts to the specific needs of each market.
Data indicating double-digit e-commerce growth in the coming years gives the firm reason to be optimistic about the future. According to data from Statista Digital Market Insights, in 2023 this market in Latin America and the Caribbean was worth US$ 117 billion, and by 2028 this figure is expected to almost double, with an estimated amount of US$ 205 billion.
"We envision massive disruption in the industry over the next 15 years, and we are very confident that around 90% of retail sales will be enhanced by technology," says Otero.
The company is also exploring new frontiers in e-commerce.
For example, it is developing solutions for conversational commerce through messaging platforms and exploring the possibilities of social commerce through social networks.
For example, in Mexico, where Tienda Nube has been operating since 2020, the company has achieved significant growth. Mylena Gama, Senior Brand Strategy Manager, highlighted in Mexican media a month ago that, by 2024, the company projects an 87% growth in the number of startups on the platform.
