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Latin America鈥檚 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鈥檚 digital economy to new heights, the runway for growth remains long.鈥�

Mercado Libre closed 2022 with record gains in sales: Strong performances in Brazil and Mexico drove the Latin American ecommerce giant鈥檚 gains.

The Amazon of Latin America has a $3.6 billion plan: Mercado Libre will invest 19 billion reais in Brazil, in part to fund its fintech arm鈥攚hich poses an enormous threat to the region鈥檚 banks.

However, we currently forecast retail media ad revenues only at the company level for Mercado Libre, Amazon, and Walmart Mexico in Latin America. Mercado Libre was an early market mover and will command half of the region鈥檚 retail media market. Mercado Libre will beat Amazon at its own game in Latin America.

Mexico鈥檚 ecommerce market is dominated by players like Mercado Libre, Amazon, Walmart, and Liverpool, offering TikTok Shop plenty of competition in a high-growth growth market. Sources. Associated Press. CNBC. The Economist. The Information. MediaPost. NPR. Politico. South China Morning Post. Wall Street Journal.

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

Mercado Libre. Raia Drogasil. Sodimac. Walmart Chile. Walmart de M茅xico y Centroam茅rica (Walmex).

Peru is Latin America鈥檚 fifth-largest retail ecommerce market by total sales volume. Although social unrest has stymied online sales growth over the past two years, the country has the potential to become a formidable multibillion-dollar ecommerce player in the region.

Understanding the nuances of how and where Latin America鈥檚 293.2 million digital buyers spend their money online is key for brands and retailers to succeed in the world鈥檚 second-fastest-growing region for ecommerce.

Understanding the nuances of how and where Colombia鈥檚 13.4 million digital buyers spend online is crucial for brands and retailers seeking a competitive edge in this emerging market.

Those likely include retailers that performed well on TikTok Shop's US platform, as well as on Amazon and Mercado Libre. The move, which is expected to be the first stage of a broader rollout across Latin America, comes on the heels of TikTok Shop starting up in Spain and Ireland.

Chile is the fourth-largest retail ecommerce market by total sales and will be the No. 4 fastest-growing digital economy in Latin America. Understanding Chile鈥檚 11.0 million digital buyers is essential for brands and retailers looking to capitalize on this resurging ecommerce market.鈥�

Argentina's ongoing macroeconomic challenges and triple-digit inflation rates have curbed online consumer spending. However, pockets of growth opportunities still exist.

Understanding the nuances of how and where Mexico鈥檚 67.5 million digital buyers spend their money online is key for brands and retailers to succeed in this thriving ecommerce market.鈥�

TikTok and Mercado Libre will set the pace globally, though at vastly different scales. TikTok faces a ban in the lucrative US market, but unless and until that happens, we foresee continued booming growth for the ByteDance subsidiary.