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So in Brazil, Mercado Libre leads retail media sales by a significant margin. I think it's about two thirds of retail media, of the retail media industry versus Amazon, it's this year about 12%. But in Mexico this year, so 2024 is the first year that Mercado Libre is going to overtake Amazon in Mexico.

Companies like Mercado Libre in Latin America and Alibaba, JC.com, and Meituan in China will account for a lot of retail media business internationally. Use this chart:. Demonstrate the growth of retail media advertising. Assess retail media’s role in digital advertising. More like this:. 5 recent charts forecasting how ad spend is changing, from retail media to programmatic.

Amazon dominates in the US, but Mercado Libre is a major player in Latin America, and in China, Alibaba, JD.com, and Meituan contribute to ad inventory, our Worldwide Retail Media Ad Spending Forecast 2024 report noted. 5. Retail media will make up more than half of US search ad spend growth. Retail media will drive US search ad spend growth in the US in 2024 and beyond.

As Latin America’s digital revolution marches on, advertisers and retailers must keep pace with how and where consumers are spending their time—and money—if they wish to maintain a competitive edge in today’s rapidly evolving business environment.

So between 2017 to through this year, we expect Mercado Libre will have invested over $5 billion into its e-commerce business in Mexico alone.

Now given the size of the region, we have a mix of regional players, à la Mercado Libre, for instance, the region's largest e-commerce player. We have other regional players like Cinco Sud, Falabella, and Rappi within that space. Now there are other market-specific ones, in Brazil, Magazine Luiza, Americanas, Via Varejo, Carrefour, and then iFood in Brazil, Uber in Mexico as well.

Smaller regional players like Shopee, Mercado Libre, and Flipkart are nowhere close to leading positions. What are the implications? Partnering options are plentiful in China, and retailers need to select platforms and channels carefully.

For example, Mercado Libre’s share of ecommerce in Mexico will be 16.0% this year, greater than Amazon’s 13.7% share. Here again, no such domestic rival exists in Canada. Only Germany’s Amazon ecommerce share (51.1%) is higher than Canada’s. Domestic online retail has been slow to develop in Germany. Amazon’s sales there are more than three times that of second-ranked Otto.