Latin America Retail Media Advertising Trends 2023

Digital’s Third Wave Brings a $1 Billion Opportunity to the Region

Report by Matteo Ceurvels  | UPDATED: Nov 17, 2023
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Table of Contents
Report Snapshot
Setting the scene
Retail media is a massive marketing and advertising opportunity in Latin America.
Top retail media networks emerge, bringing major scale and innovation.
What should marketers and advertisers in Latin America do to capitalize on retail media?
Sources
Media Gallery
About This Report
Retail media is on track to fundamentally revolutionize Latin America’s digital advertising industry. As economic uncertainty pushes marketers to deliver tangible business results, retail media will play a larger role in their media buys. Here are the latest trends to know.
Topics
Retail Media
Digital Advertising
Latin America
Table of Contents
Report Snapshot
Setting the scene
Retail media is a massive marketing and advertising opportunity in Latin America.
Top retail media networks emerge, bringing major scale and innovation.
What should marketers and advertisers in Latin America do to capitalize on retail media?
Sources
Media Gallery

Report Snapshot

Latin America’s $1 billion retail media market boasts some of the highest return on ad spending in the world. Amid worsening economic conditions, marketers are turning to retailers to deliver performance advertising and results at scale. Flush with data and innovative ad formats, several retail media frontrunners are already emerging—and revolutionizing the ad industry as we know it.

Key Question: How are retail media networks changing the paid media mix in Latin America?

KEY STAT: Retailers were among the fastest-growing digital advertising players in 2022, according to our estimates. Three of Latin America’s most prominent retail and ecommerce players—Mercado Libre, Falabella, and Walmart Mexico—were among the leaders.

Here’s what’s in the full report

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Table of Contents

  1. Report Snapshot
  2. Setting the scene
  3. Retail media is a massive marketing and advertising opportunity in Latin America.
  1. Top retail media networks emerge, bringing major scale and innovation.
  2. What should marketers and advertisers in Latin America do to capitalize on retail media?
  3. Sources
  1. Media Gallery

Charts in This Report

Ecommerce Marketing Spending in Latin America, by Type, 2022 & 2025 (billions)Digital Ad Spending Share on Amazon Ads* Among Companies in Mexico, by Format, Q4 2021-Q4 2022 (% of total)
Digital Ad Spending Share in Latin America, by Country and Format, 2023 (% of total digital ad spending)Return on Ad Spending (ROAS) for Amazon Ads in Brazil, Mexico, and the US, Q1 2022-Q1 2023
Return on Ad Spending (ROAS) in Mexico, by Retail Media Network, Q1 2022-Q1 2023Actions Taken to Prepare for Privacy Changes According to Marketers in Latin America*, Aug 2022 (% of respondents)
Types of Data Used by Their Companies in Planning and Implementing Campaigns According to Advertising Professionals in Mexico, 2020-2023 (% of total)Sources Used by Smartphone Users in Latin America* to Research a Product They Would Like to Purchase Digitally, Jan 2022 & May 2023 (% of respondents )
Digital Buyers in Brazil Who Have Been Influenced by Advertising While Shopping, by Age, Aug 2022 (% of respondents in each group)Top 15 Websites in Mexico, Ranked by Monthly Unique Visitors and Reach Among Internet Users, 2022 (millions and % reach)
Top 15 Websites in Brazil, Ranked by Monthly Unique Visitors and Reach Among Internet Users, 2022 (millions and % reach)Digital Ad Formats Retail Media Buyers* in Latin America Will Buy via Retail Media Networks, June 2023 (% of respondents)
Marketers in Latin America Who Say They Can Analyze Marketing Performance in Real Time, by Country, Aug 2022 (% of respondents)

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First Published on Jun 20, 2023

authors

Matteo Ceurvels

Contributors

Suzy Davidkhanian
Principal Analyst, Retail & Ecommerce
Andrew Lipsman
Principal Analyst, Retail & Ecommerce
Paola Flores-Marquez
Researcher, Latin America & Spain