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Double-digit inflation and stagnant economic growth have hit Latin America’s retail industry. Retail ecommerce sales growth in the region decelerated to its slowest rate on record last year, but we expect it to reaccelerate in several key markets. Here are our latest forecasts, along with new breakouts for Chile, Colombia, and Peru.

It will claim the largest share of total media ad spending in the region’s most traditional ad market, Peru. Peru will also be the only country where TV will command more than a third of paid media outlays by the end of our forecast period, in contrast to other markets where it will fall below 25%. OOH advertising is finding its second wind in Latin America.

Interactive Advertising Bureau ±Ê±ð°ùú (IAB ±Ê±ð°ùú). Interactive Advertising Bureau Uruguay (IAB Uruguay). Magazine Luiza. RD Saúde. Similarweb. Skift.

Digital ad spend will grow the fastest in Latin America this year, with Peru leading the pack, according to our forecast. While Argentina and Chile will also rank high by this measure, none of the three countries will crack the global top 10 for total digital ad spend.

Although the majority of retail media ad spending is concentrated in the region’s two largest economies, Brazil and Mexico, several players are making their ad offerings available in smaller yet lucrative markets, like Chile, Colombia, and Peru.

Latin America’s digital revolution is marching full steam ahead, with consumers spending more than a third of their day online. As social commerce and retail media propel the region’s digital economy to new heights, the runway for growth remains long.​

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.

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