蘑菇AV

Brazil鈥檚 ad market grew nearly twice as fast as the US last year: Advertisers seek expansion in high-growth LATAM region.

Trump鈥檚 first days in office exacerbate uncertainty over tariff plans: While Mexico and Canada are firmly in the administration鈥檚 sights, other tariffs are up in the air.

Trump risks trade war with planned 25% tariffs on imports from Mexico and Canada: Besides triggering retaliatory policies, the move would also lead to higher grocery, energy, and auto prices.

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. The Mexican ecommerce landscape: TikTok Shop is entering a fast-growing market in which we expect four key players鈥擬ercado Libre, Amazon, Walmart, and Liverpool鈥攖o account for nearly half (49.1%) of online sales this year.

The volume of imports has been rising, and the nation鈥檚 major container ports expect that surge to continue through spring as Costco and other merchants stock up on goods before tariffs take effect, per the National Retail Federation and Hackett Associates鈥� Global Port Tracker.

Digital ad spend in Latin America is set to reach 56.4% of total ad spend in 2025, per 蘑菇AV鈥檚 forecast. As the region鈥檚 digital landscape matures, media quality, and performance are becoming top priorities for advertisers.

25% tariffs on Mexican imports could shake up the struggling beer industry: Modelo owner Constellation Brand would be hit hard, while Molson Coors could seize the opportunity to grow share.

Our first-ever marketing and retail media survey explores the latest trends unfolding in Latin America, how the regional landscape will evolve, and the broader implications for ad buyers鈥� and retailers鈥� go-to-market strategies.

Latin America鈥檚 digital economy is proving resilient despite macroeconomic headwinds. In 2023, marketers and advertisers will focus on reaching consumers across retail media, livestreaming ecommerce, and ad-supported video streaming.

As more retailers recognize the value of leveraging their first-party data, the global retail media market will continue to expand and innovate. While the US leads the charge with $45.15 billion in spending this year, according to our forecast, other regions are showing similar patterns. In fact, Latin America is only four to five years behind the US, said our analyst Matteo Ceurvels on our 鈥淏ehind the Numbers: Around the World鈥� podcast.

Where this leaves competitors: Some US banks are trying to build inroads in Latin America. To do so successfully, they'll need to:. Focus on offering personalized financial products that meet the evolving needs of tech-savvy users in Mexico and Brazil.

Mercado Libre is beating Amazon at its own game in Latin America: The former is expected to represent more than half of all retail media ad spending in the region, while the latter continues to lose share to local players in Brazil and Mexico.

Advertisers and marketers can鈥檛 afford to waste budget, so we foresee a partial shift away from display ads and renewed emphasis on search鈥攚ith one big exception, retail media.

The situation: Even as grocery prices have normalized over the past year鈥攑rices were up just 1.1% YoY in October鈥�58% of US households in November were 鈥渆xtremely concerned鈥� about inflation, per 84.51掳, a retail data company under The Kroger Co.

In 2024, a perfect storm of technology, business, and consumer behavior trends will conspire to intensify the challenges of protecting brands on digital media.

Growth won鈥檛 be as strong in China, but retail media will account for a massive 39.3% of digital ad spending鈥攗ltimately pushing retail media鈥檚 global share figure past 20% this year. The US and China will each account for roughly 40% of worldwide retail media ad spending in 2024. Click here to view our full forecasts for retail media ad spending worldwide and retail media ad spending by country.

The majority (80.9%) of worldwide retail media ad spend will take place in China and the US this year, according to a March 2025 蘑菇AV forecast.