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And 80% of these users are considered active. 92 million are located in Brazil, and currently there aren’t any users outside of Latin America—which raises questions about Nubank’s ability to expand beyond the region. And given the challenges of buying or becoming a bank in the US, it likely won’t enter that market soon.

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We do see in terms of the digital space, that the region continues to remain the fastest growing e-commerce market worldwide. This was a trend that happened for the first time in 2020 where Latin America first held that title as fastest growing e-commerce market, and now we've seen it for 2022, 23, 24, and 2025, it's still going to lead the world in commerce growth.

The context: Shein has a dominant (40%) share of the US fast-fashion market thanks to its vast assortment of low-priced apparel that appeals to Gen Z and millennial shoppers, per Bloomberg. Despite its success, the company has significant challenges.

Netflix gets a boost from Latin America in Q1: The region is a vital market for new users and incremental revenue growth, despite the controversial clampdown on password sharing.

Walmart in April launched a digital presence redesign that aims to push shoppers to discover (and buy) items that they may not have been seeking. Our US Walmart Retail Ecommerce Sales Forecast expects the retailer’s online sales will grow 10.9% this year.

How we got here: Kroger, Walmart, and Save A Lot are each trying to broaden their appeal to shoppers, particularly in markets like Texas that have diverse audiences and are experiencing a significant population boom. The two locations Kroger chose for its Asian Experience stores—Denton County and Collins County—have seen a significant uptick in their Asian populations over the last several years.

The news: Disney Advertising and Magnite built out their US offerings and expanded their global ad-supported automated inventory across Canada, Latin America, and select regions in the Middle East, Africa, and Europe. US advertisers will now have access to more than 35 demand-side services for Disney platforms.

The other option is to rely more heavily on air freight—an increasingly expensive proposition given that Chinese ecommerce companies like Shein, Temu, and AliExpress are gobbling up the majority of capacity.

Asia-Pacific remained a global hotspot in 2023, with six of the top 10 fastest-growing retail ecommerce markets worldwide. In particular, China's online shopping market showed signs of resiliency, with growth rates in the double digits.