Ä¢¹½AV

Mercado Libre has an edge on Amazon in Latin America’s largest countries. In 2024, Mercado Libre will claim more than two-thirds of retail media ad spending in Brazil and overtake Amazon’s share in Mexico for the first time. But Mercado Libre’s advertising business will still draw only 0.8% of the worldwide total.

Amazon and TikTok also feature on the list for fastest growth, but Mercado Libre will steal the show this year. Our debut forecast for Mercado Libre projects the Argentine company will lead the world in ad revenue growth in 2024.

Mercado Libre. MIT Technology Review. Morning Consult. NTT Data. Opinion Box. Wunderman Thompson. Zuban Córdoba y Asociados.

Brazil is Latin America’s largest retail ecommerce market by total sales volume and will be this year’s third-fastest-growing digital economy worldwide. Understanding the nuances of how and where Brazil’s diverse consumer base spends its money online is key for brands and retailers to thrive in this highly competitive ecommerce market.

Mercado Libre. Opinion Box. Pluto TV. Portada. Salesforce. Shutterstock. Teads.

Mercado Libre will dominate retail ecommerce in Latin America. The company’s multibillion-dollar investments have delivered significant returns. Mercado Libre now has an edge over the competition in strategic growth markets like Brazil and Mexico—and has solidified itself as Latin America’s No. 1 retail ecommerce player. What’s Inside.

While marketplaces like Amazon or Mercado Libre remain the most popular search channels for shoppers worldwide, their share is decreasing, per Wunderman Thompson. Meanwhile, the number of people worldwide who browse in-store is rising. In the US, Amazon is also losing search share as consumers increasingly turn to social media platforms like YouTube, Facebook, Instagram, and TikTok, per Jungle Scout.

Amazon, Mercado Libre) is their primary source for beauty inspiration, per VML’s The Future Shopper report. 35% say marketplaces are the leading search destination for beauty products, and 25% say it’s their preferred spot to purchase beauty products. Marketplaces are also a go-to for clothing and fashion shoppers, with 42% using them for inspiration, 37% for search, and 24% for purchases.

The exceptions are countries with a strong local competitor, like Mercado Libre in Mexico and Brazil. Domestic retailers in smaller markets, like Canada, have been slow to develop ecommerce channels, resulting in Amazon's dominance. Canada’s lag was acute in the past decade, especially versus the US.

Mercado Libre and Amazon are fueling retail media’s fire. In our survey, Amazon had the greatest brand recognition, but Mercado Libre was favored most by ad buyers. Local players like Magazine Luiza and Americanas S.A. are gaining ground in Brazil, while Rappi competes with Mercado Libre and Amazon in Colombia.

Mercado Libre. Similarweb. Walmart de México y Centroamérica (Walmex).