Latin America Retail Media Advertising 2022

Double-Digit Gains in Digital Advertising and Retail Ecommerce Sales Spark New Opportunities for Brand Marketers

Executive Summary

Retail media, while still nascent, has become a boon for marketers in Latin America in an increasingly competitive digital landscape. Ecommerce is reaching new heights, and brands vying to reach intent-driven shoppers with the right message at the right time will turn to retail media networks for their marketing strategies in 2022.


  1. How big is the retail media opportunity in Latin America?
  2. Who are the leading retail media players in the region?
  3. What are the opportunities for brands looking to grow their presence on retailers’ media networks in Latin America?

WHAT’S IN THIS REPORT? Our first-ever overview of retail media advertising in Latin America, as well as an exploration of key trends driving market growth and opportunities for marketers this year.

KEY STAT: Mercado Libre’s and Amazon’s country-specific domains in Mexico boasted audiences greater than that of the country’s leading publishers in 2021, per Admetricks, making them attractive destinations for ad investments.

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    Table of Contents

    1. Executive Summary
    2. Key Points
    3. Understanding the Retail Media Opportunity in Latin America
    4. Key Players in Latin America’s Retail Media Ecosystem
    1. 2 Factors that Will Drive Growth in Retail Media in 2022
    2. Strategies for Reaching Digital Shoppers on Retail Media Networks
    3. Insider Intelligence Interviews
    4. Read Next
    1. Listen Next
    2. Sources
    3. Media Gallery

    Charts in This Report

    Interviewed for This Report

    Fernanda Álvarez Munguía
    Levi Strauss & Co.
    Senior Brand Marketing Manager, Latin America
    Interviewed February 4, 2022
    Carlos Corona Betancourt
    Director General, Latin America
    Interviewed February 1, 2022
    Leonardo Corrêa
    Magazine Luiza
    Advertising Manager (Magalu Ads)
    Interviewed February 4, 2022
    Cristian Figoli
    Havas Media Group (Argentina)
    Head of Digital Product
    Interviewed January 25, 2022
    Grégoire Flatin
    Head of Retail Media Solutions
    Interviewed February 1, 2022
    Helory Fontes
    Senior Marketing Analyst
    Interviewed January 31, 2022
    Everardo Matus Gayosso
    Walmart Connect México
    Digital Products Manager
    Interviewed February 22, 2022
    Alexandra Bello Mendonça
    Americanas S.A.
    Head of Americanas Advertising
    Interviewed January 31, 2022
    Blandine Multrier
    Managing Director, Latin America
    Interviewed February 1, 2022
    Stephen Reagan
    Co-Founder and Vice President, Strategy and Client Services
    Interviewed February 1, 2022
    Fernando Rubio
    Mercado Libre
    Vice President, Mercado Ads
    Interviewed February 15, 2022
    Catalina Salazar
    Global Head of Agencies and Media
    Interviewed January 31, 2022
    Pablo San Martín
    Marketing and Business Intelligence Manager
    Interviewed February 28, 2022

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    Matteo Ceurvels


    Paola Flores-Marquez
    Researcher, Latin America & Spain
    Andrew Lipsman
    Principal Analyst, Retail & Ecommerce
    Debra Aho Williamson
    Principal Analyst

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