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All major regions are projected to see negative user growth in 2025, led by Latin America (-3.4%), Central & Eastern Europe (-2.6%), and the Middle East & Africa (-2.2%). Asia-Pacific remains X鈥檚 largest market at 136.9 million monthly users, followed by North America (61.1 million) and Latin America (77.9 million). The question is whether advertisers are willing to buy into Musk鈥檚 vision.

While demand for Temu鈥檚 ultra-cheap goods is strong in Latin America, efforts across the region to introduce duties on low-cost imports could impede its growth prospects.

WU also gains a desirable footprint in high-growth Latin America. What鈥檚 at stake: Western Union said this acquisition will strengthen its US retail offerings, expand its market reach in desirable geographies, and accelerate new customer acquisitions.

China, the US, and a few other markets will do worse than expected, but Western Europe, Latin America, and most other regions will muddle through. Ecommerce sales growth worldwide will decelerate to 6.8% this year but rebound in 2026. Almost all of the impressive ecommerce growth will come from small or emerging markets in Southeast Asia and Latin America.

Trump鈥檚 tariff reprieve exacerbates uncertainty: The stop-and-start nature to the administration鈥檚 economic policy keeps retailers鈥攁nd consumers鈥攐n edge.

The US does $2.18 trillion in cross-border trade (both imports and exports) with its top three biggest partners鈥擬exico, Canada, and China鈥攁ccording to the US Census Bureau.

In much of Southeast Asia and Latin America, its penetration is at or above 70%. Over half of the world is now using a social network. 82% of internet users will use social networks this year, and most of them will be in Asia-Pacific. Social network user growth will be low from now on, but the cumulative increases remain enormous.

As emerging channels like social commerce and retail media position Latin America as a global force, the runway for growth remains long.鈥嬧�� This deck will:鈥�. Highlight the latest trends in digital media, advertising, and ecommerce as major markets mature and smaller ones fuel new growth.鈥� Explore who stands to gain from evolving consumer habits and the shift toward digital-first business strategies.鈥�

Methodology: Data is from the May 2025 Deloitte "2025 Gen Z and Millennial Survey." 23,482 consumers worldwide were surveyed online between October 25-December 24, 2024 that include 14,751 Gen Z and 8,731 millennials鈥攁cross 44 countries in North America, Latin America, Western Europe, Eastern Europe, the Middle East, Africa, and Asia-Pacific.

"Nobody knows what's going to happen and when," said our analyst Rachel Wolff on a recent 鈥淏ehind the Numbers鈥� podcast, about the potential impact of tariffs. "Everybody's just waiting until the last possible minute to figure out, will these actually go into effect?" Retailers are bracing for disruptions as President Donald Trump鈥檚 on-again, off-again tariffs on imports from Mexico, Canada, China, and the EU loom.

Latin America is the next retail media hotbed. We only break out Brazil and Mexico individually, but our calculations for the entire Latin America region show 37.4% growth this year and $2.54 billion in spending. By 2029, Latin America鈥檚 retail media ad spending will surge past $6 billion. Mercado Libre will be the primary beneficiary of this regional largesse.

Latin America leads in microdrama app downloads, covering 27% of the market. Is vertical the future of viewing? TikTok popularized the format, and numerous platforms adopted the style, including YouTube Shorts, Instagram and Facebook Reels, and Snapchat. It鈥檚 a great time for MicroCo to capitalize on a growing market. Key vertical stats:.

Retail platforms in regions like Latin America and Southeast Asia may offer less competition and more growth potential, especially for brands looking to establish an early footprint. Related 蘑菇AV reports:. Worldwide Retail Media Ad Spending 2025 (蘑菇AV subscription required). Impact of Tariffs on US Retail Media Ad Spending(蘑菇AV subscription required).

(Visa said it is instead focusing on more promising markets like Latin America and Europe.). The open banking rule isn鈥檛 gone. But given that up until a few weeks ago the CFPB had sided with the banks trying to scrap the rule, the version of Section 1033 that results from the new rulemaking will likely be some combination of watered down, toothless, or otherwise 鈥渙pen鈥� banking in name only.

In Q1 2025, Latin America and Southeast Asia accounted for the biggest share of short-form drama app downloads globally, at 27% and 24%, respectively, according to Sensor Tower data. These regions also represented the fastest-growing market for downloads, increasing by 69% and 61% YoY, respectively, per Sensor Tower.

Amazon plots Haul expansion in spite of de minimis crackdown: The retailer plans to launch its low-cost marketplace in Europe and Mexico.