Digital ad spending is exploding in Latin America. It will grow by 34.8% this year to $20.86 billion—a figure more than double the amount spent in 2020. Mobile will be the main growth driver, propelling the region’s digital ad market to new heights over the course of our forecast period.

Retail media advertising sits at the intersection of two major digital disruptions unfolding in Latin America: the meteoric rise of ecommerce and reallocation of ad dollars toward digital formats. While still nascent, retail media will play a larger part of brands’ marketing strategies in 2022.