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Mercado Coin can be used for Mercado Libre purchases. Combining its ecommerce platform and financial products takes the company a step closer to super app status.

Mercado Libre is Latin America鈥檚 biggest ecommerce player by far, but competition from local players is heating up.

Mercado Libre closed 2022 with record gains in sales: Strong performances in Brazil and Mexico drove the Latin American ecommerce giant鈥檚 gains.

The Amazon of Latin America has a $3.6 billion plan: Mercado Libre will invest 19 billion reais in Brazil, in part to fund its fintech arm鈥攚hich poses an enormous threat to the region鈥檚 banks.

Mexico is Latin America's second-largest ad market by total spending but has the highest digital ad penetration in the region. Here, we explore the country's consumer behaviors and opportunities for advertisers.鈥�

Amazon and TikTok also feature on the list for fastest growth, but Mercado Libre will steal the show this year. Our debut forecast for Mercado Libre projects the Argentine company will lead the world in ad revenue growth in 2024.

Mercado Libre. MIT Technology Review. Morning Consult. NTT Data. Opinion Box. Wunderman Thompson. Zuban C贸rdoba y Asociados.

The exceptions are countries with a strong local competitor, like Mercado Libre in Mexico and Brazil. Domestic retailers in smaller markets, like Canada, have been slow to develop ecommerce channels, resulting in Amazon's dominance. Canada鈥檚 lag was acute in the past decade, especially versus the US.

Brazil is Latin America鈥檚 largest retail ecommerce market by total sales volume and will be this year鈥檚 third-fastest-growing digital economy worldwide. Understanding the nuances of how and where Brazil鈥檚 diverse consumer base spends its money online is key for brands and retailers to thrive in this highly competitive ecommerce market.