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Peru is Latin America鈥檚 fifth-largest retail ecommerce market by total sales volume. Although social unrest has stymied online sales growth over the past two years, the country has the potential to become a formidable multibillion-dollar ecommerce player in the region.

Instead of prioritizing Mexico as a primary entry point for US brands expanding into the region, it could redirect sellers to markets like Argentina and Peru, where leaders are actively pursuing trade liberalization policies to attract foreign businesses and investment.

Reforms to cross-border trade policies could prompt the Singapore-based ecommerce player to return to more international business-friendly markets, like Argentina and Peru, after retreating from much of the region in September 2022. Amazon will remain in Mercado Libre鈥檚 shadow in Argentina.

The Latin America coverage in the Global Media Intelligence Report includes poll results from Argentina, Brazil, Colombia, Mexico, and Peru.

Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP): This agreement includes Canada and 10 other countries: Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. For Canada, a key benefit is access to the Japanese automotive market for parts and its consumer market for beef and pork exports.

Social unrest stymies retail ecommerce growth in Peru. Ongoing political instability will hamper retail activity. Peru has endured periods of supply chain constraints, rampant corruption, and government failures, sparking widespread protests across the nation.

It will claim the largest share of total media ad spending in the region鈥檚 most traditional ad market, Peru. Peru will also be the only country where TV will command more than a third of paid media outlays by the end of our forecast period, in contrast to other markets where it will fall below 25%. OOH advertising is finding its second wind in Latin America.

Double-digit inflation and stagnant economic growth have hit Latin America鈥檚 retail industry. Retail ecommerce sales growth in the region decelerated to its slowest rate on record last year, but we expect it to reaccelerate in several key markets. Here are our latest forecasts, along with new breakouts for Chile, Colombia, and Peru.