Alejandro Vazquez joins us now.
He is the co-founder and president of Nuvemshop.
You power online storefronts for merchants specifically across Latin America.
Really grateful for your time today.
Thanks for being here.
Thank you, JD.
Pleasure to be here.
Talk to me about the opportunities, but maybe also the big challenges of doing work specifically in Brazil and operating and excelling in the e-commerce marketplace.
Well, Brazil, it's a really huge market, but it's a very demanding and very competing market.
When you look at Brazil.
Still more than 200 million people and when you look at e-commerce in particular or retail in general, the brands that really win in the market are the ones that create unique experiences and experiences is not only about the product, right?
It's about the experience for the merchant.
It's more than just price and that's what we are looking and what we are working on, uh, at New Shop when you look at the scenario, the competitive scenario in Brazil.
It's very complex.
I mean, it's a continental country, so in terms of logistics, it's very complex for the merchant to deliver to the whole country payments it's also very complex.
You have different kinds of payments, not just credit cards.
The tax regulation is also very complex in different states.
So when you look at the whole package, what merchants ask for, they ask for a way to sell direct to the consumer but in a really easy manner.
They want to have their the look and feel of the storefront.
They want to have their online their DNA of the brand represented on it.
They want a frictionless experience for the consumers, and they also want to deliver faster, cheaper, and also provide good payment conditions for the consumers.
So when you look at that, that's what they asked for.
They want us to help them build that kind of uh business D2C business in the online world, which is really complex again in, in Brazil.
And that's what we are doing right now helping more than 200,000 merchants, most of them in Brazil, from well established brands like uh Mam like King Sneakers and Shortsco and also international brands who decides to work with us in Latin America because.
We solve all that complexity e-commerce requires.
Alejandro, I do a lot of these interviews every day, every week.
I'm always asking about the ways that people like yourself are leveraging artificial intelligence.
Are there ways that AI is being used in the e-commerce space in Latin America that might come as a surprise to someone looking in from the outside?
100% actually.
What we've been working on is like the phase one of uh of AI.
It's something that was already existed before AI which is conversational commerce and a number most people don't know when you look at Brazil, 70% of the online transactions has an interaction through WhatsApp or Instagram or any uh messaging channel during the the journey of the purchase 70%.
So what we are trying to do what.
We are doing actually it's improving dramatically that experience it's not changing the behavior of the consumers it's improving that experience and our answer to that was Nuve chat which is uh an agent AI agent which allows every merchant to interact with their consumers through WhatsApp and negotiate and recommend products and track the order and also make the purchase through WhatsApp with our payment solution behind it so.
This is something that is very unique from Brazil and also for Latin America because WhatsApp has more than 95% penetration in the Internet population so that's that's the phase one I would say the the phase two, it's about all the LLMs which is becoming it's still very small but it's growing faster, which is becoming the like the new uh pro discovery layer we have OK and that's.
The consumer side, when you look at the merchant side, we are working to help our merchants become more productive because they need to improve their bottom line.
So we launched more than 30 AI agents.
We help our merchants make better decisions and faster decisions with more insights.
For instance, it's a very exciting time, especially for investors here stateside looking for emerging markets.
I have to leave it there.
I'm out of time unfortunately.
Alejandro, please come back and see us again.
It's nice to see you.
Thank you, JD.
