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Mercado Libre and Reddit, the two projected front-runners, have a much smoother path ahead鈥攁lthough both are growing from a small base. Mercado Libre will lead in growth again in 2026. Click here to view our full forecast for digital ad revenue growth by company worldwide. Retail media and social media ad platforms will dominate the top 10 list for growth.

Mercado Libre will invest a record-breaking $2.45 billion (MXN 43.45 billion) in Mexico this year to grow its logistics network, strengthen Mercado Pago (its payment app), and expand technology capabilities. Between 2017 and 2024, Mercado Libre will have invested $7.72 billion (MXN 136.90 billion) into its operations in Mexico鈥攖he largest amount by far among its peers.

However, we currently forecast retail media ad revenues only at the company level for Mercado Libre, Amazon, and Walmart Mexico in Latin America. Mercado Libre was an early market mover and will command half of the region鈥檚 retail media market. Mercado Libre will beat Amazon at its own game in Latin America.

Mexico鈥檚 ecommerce market is dominated by players like Mercado Libre, Amazon, Walmart, and Liverpool, offering TikTok Shop plenty of competition in a high-growth growth market. Sources. Associated Press. CNBC. The Economist. The Information. MediaPost. NPR. Politico. South China Morning Post. Wall Street Journal.

That鈥檚 not the case in other markets鈥攍ike Latin America, where Mercado Libre is a homegrown juggernaut. Amazon鈥檚 C$51 billion ($37.78 billion) in gross merchandise value makes up more than 5% of total retail. By that measure, it is the largest mass merchandiser in the country, ahead of Walmart and trailing only Loblaw Companies Ltd.

TikTok and Mercado Libre will set the pace globally, though at vastly different scales. TikTok faces a ban in the lucrative US market, but unless and until that happens, we foresee continued booming growth for the ByteDance subsidiary.

Amazon, Mercado Libre) is their primary source for beauty inspiration, per VML鈥檚 The Future Shopper report. 35% say marketplaces are the leading search destination for beauty products, and 25% say it鈥檚 their preferred spot to purchase beauty products. Marketplaces are also a go-to for clothing and fashion shoppers, with 42% using them for inspiration, 37% for search, and 24% for purchases.

Mercado Libre. Raia Drogasil. Sodimac. Walmart Chile. Walmart de M茅xico y Centroam茅rica (Walmex).

Alibaba, Amazon, and Mercado Libre dominate retail ecommerce in different parts of the world. Here鈥檚 a look at how these marketplaces stack up, in seven charts and graphics.

Alibaba鈥檚 retail ecommerce sales in China were nearly twice that of Amazon鈥檚 worldwide in 2022, at $1.229 trillion compared with about $657 billion, per our estimates. Latin American competitor Mercado Libre had significantly less ecommerce sales, at nearly $35 billion.

In Latin America, Mercado Libre is reaping the benefits from consumers鈥� embrace of ecommerce. This year, we expect its regional ecommerce business will grow by 23.0% to nearly $35 billion, representing more than $1 in $5 spent on retail ecommerce in the region.

Despite significant headwinds, big names continue to join the crypto bandwagon, including most recently Mercado Libre in Latin America. Join our analyst Bill Fisher as he hosts researcher Paola Flores-Marquez and analyst Grace Broadbent to discuss the lay of the crypto land in global markets.

Mercado Libre has an edge on Amazon in Latin America鈥檚 largest countries. In 2024, Mercado Libre will claim more than two-thirds of retail media ad spending in Brazil and overtake Amazon鈥檚 share in Mexico for the first time. But Mercado Libre鈥檚 advertising business will still draw only 0.8% of the worldwide total.

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.

Understanding the nuances of how and where Colombia鈥檚 13.4 million digital buyers spend online is crucial for brands and retailers seeking a competitive edge in this emerging market.

Chile is the fourth-largest retail ecommerce market by total sales and will be the No. 4 fastest-growing digital economy in Latin America. Understanding Chile鈥檚 11.0 million digital buyers is essential for brands and retailers looking to capitalize on this resurging ecommerce market.鈥�

Argentina's ongoing macroeconomic challenges and triple-digit inflation rates have curbed online consumer spending. However, pockets of growth opportunities still exist.

Understanding the nuances of how and where Mexico鈥檚 67.5 million digital buyers spend their money online is key for brands and retailers to succeed in this thriving ecommerce market.鈥�

Retailers looking to capitalize on retail media鈥檚 growth opportunities need to understand the market developments, formats, and challenges shaping ad spending in Latin America.

Understanding the nuances of how and where Latin America鈥檚 293.2 million digital buyers spend their money online is key for brands and retailers to succeed in the world鈥檚 second-fastest-growing region for ecommerce.