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In January 2024, Nubank division Nu Mexico partnered with local fintech Félix Pago to launch a WhatsApp-based remittance service for its 5.5 million users in Mexico. This partnership caters to the 80.1% of mobile phone owners in Mexico who use WhatsApp. And Félix Pago's $2.99 flat fee per transaction undercuts the market average, making it an accessible option. High-yield savings accounts.

Six of the region’s leading retail and ecommerce platforms featured prominently in our global analysis—including three from Brazil that posted triple-digit gains. While much of this growth came from a smaller base of ad revenues, it underscored Brazil’s position as the world’s fastest-growing retail media market—a title it’ll reclaim from 2026 onward, per our forecast.

While many struggled to get it right, ecommerce giants like Amazon and Mercado Libre accelerated retail’s digital transformation, setting a precedent that other sectors are now racing to replicate. CMNs should prioritize third-party tech integration to accelerate time to scale efficiently.

Brazil’s digital economy continues to thrive, driven by shifting advertising trends and increased social media usage. This report series explores key media consumption trends in Brazil in 2025.

Brazil’s digital advertising economy continues to thrive, driven by retail media investment, growing video ad spend, and slower social ad spending. This report explores trends shaping Brazil’s digital advertising landscape in 2025.​

Companies that can successfully navigate and adapt to rapidly evolving local market conditions will be best positioned to capitalize on growth opportunities in Latin America’s thriving retail ecommerce market. Sources. ESW. Google. PwC. US Census Bureau.

In our exclusive survey with ESW, data from shoppers in 18 countries reveals new twists in the path to purchase, the rising momentum of marketplaces, and the resilience of age-old fundamentals.

Not only are Canadians less inclined to visit their southern neighbor for vacations, but they’re also no longer using US border towns as click-and-collect points for ecommerce orders or destinations for cheap gas—which is hurting local businesses that rely on their spending to stay afloat.

While Argentina is opening its economy to foreign businesses, Brazil and Mexico are taking steps to curb the growing popularity of Asia-based ecommerce platforms like Shopee, AliExpress, Shein, and Temu. Argentina eliminated tariffs on international ecommerce purchases up to $400 for personal use and raised the tax-exempt purchase limit from $1,000 to $3,000 in December 2024.

The largest US remittance corridor is Mexico, followed by China, per the Federal Reserve. Click here to view our full forecast for US remittance outflow. Widespread availability of digital remittance apps has made them a popular option globally.

The big picture: While Tesla has an advantage over most automakers in that it assembles all cars for the US market domestically, it still relies on other countries—including China and Mexico—for parts, which will be subject to a 25% tariff starting on May 3.

From revolutionizing logistics and digital payments to capturing a major share of ecommerce and retail media ad revenues, Mercado Libre has profoundly reshaped Latin America’s digital economy.

Fewer US consumers shopped on Black Friday this year, despite record spending, per PYMNTS—indicating higher spending per shopper. Big-ticket spending also saw an uptick, likely fueled by some shoppers splurging ahead of potential tariffs. Commercial banking shifts ahead: Corporations in the US and abroad are trying to plan around the uncertainty.

Unsurprisingly, consumers in Canada (down 44 points) and Mexico (down 32 points) are particularly disgruntled—but so too are those in South Korea (down 38 points), France (down 33 points), and Brazil (down 19 points).

If marketplace sellers raise prices as expected, the impact on Amazon shoppers would be significant, since we expect roughly $2 out of every $3 (66.8%) US shoppers spend on the platform this year will go to those third parties.

Retailers looking to capitalize on retail media’s growth opportunities need to understand the market developments, formats, and challenges shaping ad spending in Latin America.