Latin America Retail Media Advertising Trends 2023

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

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


Exportable files for easy reading, analysis and sharing.


Reliable data in simple displays for presentations and quick decision making.

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

Access All Charts and Data

Gain access to reliable data presented in clear and intelligible displays for quick understanding and decision making on the most important topics related to your industry, included at no extra cost.

First Published on Jun 20, 2023


Matteo Ceurvels


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

"Behind the Numbers" Podcast