Latin America Retail Media Trends 2024

Unpacking the Region’s $2 Billion Opportunity

Report by Matteo Ceurvels  | Jun 18, 2024
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Executive Summary
Latin America’s multibillion-dollar retail media revolution marches on
Viable alternatives to the duopoly emerge
Factors fueling retail media’s fire in Latin America
New formats and solutions keep advertisers coming back for more
What should advertisers in Latin America do to capitalize on retail media?
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About This Report
Retail media is taking Latin America’s digital ad industry by storm, with advertisers spending nearly $2 billion this year, per our inaugural forecast. Here are the latest trends you need to know.
Topics
Retail Media
Ecommerce Tactics
Latin America
Table of Contents
Executive Summary
Latin America’s multibillion-dollar retail media revolution marches on
Viable alternatives to the duopoly emerge
Factors fueling retail media’s fire in Latin America
New formats and solutions keep advertisers coming back for more
What should advertisers in Latin America do to capitalize on retail media?
Listen Next
Sources
Media Gallery

Retail media is taking Latin America by storm as advertisers anticipate the cookieless future. With more robust ad formats and solutions emerging, retail media spending will rise to nearly $2 billion in 2024, according to our inaugural forecast.

Key Question: How is retail media advertising changing the paid media mix in Latin America?

Retail Media Ad Spending in Latin America, 2021-2028 (billions, % change, and % of total digital ad spending)
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Key Stat: Retail media ad spending in Latin America will triple in size between 2024 and 2028, rising from $1.84 billion to $5.45 billion. At which time, it will represent 15.6% of the region’s digital ad market.

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Table of Contents

  1. Executive Summary
  2. Latin America’s multibillion-dollar retail media revolution marches on
  3. Viable alternatives to the duopoly emerge
  1. Factors fueling retail media’s fire in Latin America
  2. New formats and solutions keep advertisers coming back for more
  3. What should advertisers in Latin America do to capitalize on retail media?
  1. Listen Next
  2. Sources
  3. Media Gallery

Charts in This Report

Retail Media Ad Spending in Latin America, 2021-2028 (billions, % change, and % of total digital ad spending)Digital Ad Spending in Latin America, by Format, 2013-2033 (bilions)
Retail Media Ad Spending in Latin America, by Country, 2022-2028 (billions)Retail Media Ad Spending Growth in Select Countries Worldwide, 2024 (% change)
How Has Our Forecast for Retail Media Ad Spending in Mexico Changed? (millions, 2019-2025)Retail Media Ad Spending Share in Select Countries Worldwide, 2024 & 2028 (% of total digital ad spending)
Retail Media vs. TV Ad Spending in Mexico, 2019-2028 (billions)The Retail Media Landscape in Latin America, 2024
Top 15 Websites in Brazil, Ranked by Unique Visitors and Reach Among Internet Users, 2023 (millions and % reach)Top 15 Websites in Mexico, Ranked by Unique Visitors and Reach Among Internet Users, 2023 (millions and % reach)
Digital Ad Revenue Growth Among Select Companies Worldwide, 2024 (%change)Digital Ad Revenue Growth Among Select Companies Worldwide, 2024 (% change)
Retail Media Ad Spending Share in Latin America, by Company, 2021-2026 (% of total retail media ad spending)Mercado Libre Ad Revenues in Latin America, by Country, 2022-2026 (millions)
Retail Media Ad Spending in Mexico, by Company, 2019-2026 (millions)Retail Media Ad Spending Share in Mexico, by Company, 2021-2026 (% of total retail media ad spending)
Retail Media Ad Spending Share in Brazil, by Company, 2019-2026 (% of total retail media ad spending)Retail Media: Why Now? 5 Factors Driving Its Meteoric Rise—and Importance—in Latin America, 2024
Return on Ad Spending (ROAS) for Amazon Ads in Select Countries, 2023The Evolution of Retail Media Advertising in Latin America, 2009-2026

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authors

Matteo Ceurvels

Contributors

Suzy Davidkhanian
VP, Content
Sarah Marzano
Principal Analyst, Retail Media
Oscar Orozco
Director, Forecasting
Jennifer Pearson