Most of the growth is tied to ever-rising retail ecommerce. Retail media鈥檚 valuable first-party data is now being used for ads targeted in-store and in nonendemic channels like CTV. Google, Meta, and Amazon still dominate the ad spending landscape. The triopoly鈥檚 share in Canada is among the highest in the world.
Why it matters: Amazon appears to be turning to the same low-cost shipping playbook it used to gain share in Brazil and Mexico鈥攎arkets dominated by Mercado Libre. Mercado Libre dominates the ecommerce market in Argentina; we expect it will account for 66.5% of the country鈥檚 online sales this year.