Retail media ad spending is booming in Latin America. Brazil and Mexico are leading the charge, with MercadoLibre outpacing in-market rivals. Here are the latest trends you need to know.
Despite the current duopoly between MercadoLibre and Amazon in Mexico鈥檚 ecommerce market, roughly 60% of online sales remain up for grabs for local, regional, and global retailers.
From revolutionizing logistics and digital payments to capturing a major share of ecommerce and retail media ad revenues, MercadoLibre has profoundly reshaped Latin America鈥檚 digital economy.
Many retailers in Latin America like MercadoLibre, Rappi, and even Walmart function not only as commerce players, but as financial institutions as well. As a result, commerce media in Latin America is charting a different course than it has in the US, one that could result in unique opportunities for companies with access not only to shopper habits, but to financial data as well.
MercadoLibre will grow its headcount by 33% this year to solidify Latin America ecommerce dominance: The company looks to strengthen its business in Brazil, Mexico, and Argentina鈥攊ts three largest markets.