Latin America Trends to Watch in 2024

5 Ways Retail Media, Commerce, and AI Will Redefine the Regional Market

Report by Matteo Ceurvels  | UPDATED: Jan 5, 2024
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Table of Contents
First-party data’s value will soar as the cookies crumble
Mercado Libre will dominate Latin America’s retail media industry
China’s growing presence in Latin America will influence shopping habits
Companies will put AI experimentation into practice
A euro-style common currency will remain a pipe dream in Latin America
Sources
Media Gallery
About This Report
The Latin American economy is on the upswing, with digital innovation in the driver’s seat. Our trends report explores how retail media, commerce, and generative AI will be redefined in 2024 and what businesses need to know to get ahead.
Topics
Consumer Behavior
Digital Shoppers & Buyers
Latin America
Table of Contents
First-party data’s value will soar as the cookies crumble
Mercado Libre will dominate Latin America’s retail media industry
China’s growing presence in Latin America will influence shopping habits
Companies will put AI experimentation into practice
A euro-style common currency will remain a pipe dream in Latin America
Sources
Media Gallery

The Latin American economy is on the upswing, with digital innovation in the driver’s seat. This year, expect retail media, social commerce, and generative AI (genAI) to take center stage in a cookieless world. Meanwhile, Argentina’s newly inaugurated president will dampen any hope for a common regional currency, but dollarization is on the table.

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Table of Contents

  1. First-party data’s value will soar as the cookies crumble
  2. Mercado Libre will dominate Latin America’s retail media industry
  3. China’s growing presence in Latin America will influence shopping habits
  1. Companies will put AI experimentation into practice
  2. A euro-style common currency will remain a pipe dream in Latin America
  3. Sources
  1. Media Gallery

Charts in This Report

Importance of Retailers' First-Party Data Among Ad Buyers* in the Americas, by Country, Nov 2023 (% of respondents in each group)Retail Media Digital Ad Spending in Brazil vs. Mexico, 2021-2025 (millions)
Retail Media Digital Ad Spending Share in Mexico, by Company, 2019-2025 (% of total)Retail Media Digital Ad Spending Share in Brazil, by Company, 2019-2025 (% of total)
Attitude Toward China's Growing Influence* Among Internet Users in Select Countries in the Americas, Aug 2023 (% of respondents in each group)Social Buyers Penetration Worldwide, 2024 (% of digital buyers)
Marketers Worldwide Whose Companies Have Rolled Out Formal AI Trainings, by Country, April 2023 (% of respondents in each group)Adults in Latin America Who Believe Products/Services That Use AI Will Profoundly Impact* Their Daily Lives, by Country, June 2023 (% of respondents in each group)
Degree to Which Consumers in Latin America Would Support a Measure to Create a Common Regional Currency* to Increase Trade, by Country, Nov 2023 (% of respondents in each group)Degree to Which Adults in Argentina Agree With Select Political and Economic Measures, June 2023 (% of respondents)

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First Published on Jan 4, 2024

authors

Matteo Ceurvels

Contributors

Suzy Davidkhanian
Principal Analyst, Retail & Ecommerce
Paola Flores-Marquez
Researcher, Latin America & Spain
Oscar Orozco
Director, Forecasting
Jennifer Pearson
VP, Research