Last year, China was the only market to see overall ad spending growth, although digital ad spending performed well almost everywhere. This year, every country will see growth in almost every category.

In 2022, 40.7% of China’s digital ad spending will go toward the ecommerce channel, for ads offered by retailers like Alibaba and JD.com. This eclipses the share in the US, where 14.5% of digital ad spending will flow to ecommerce channel ads sold by the likes of Amazon, Walmart, and eBay.

China’s total media ad spending and digital ad spending will both grow at their lowest rates since we began tracking them in 2012, but the ad industry is nonetheless set for an eventful year in the world’s second-largest market.

Nearly every country in the world will see slower growth in total ad spending and digital ad spending than it did last year, but the comparison is an unfair one because 2021 was abnormal. The outlook is mostly bright.

While still small in share—compared with Amazon’s 11.4% share of total US digital ad spending or Alibaba’s 27.6% share in China—Mercado Libre is well positioned to grow its share of Latin America’s digital advertising pie in the coming years. 2 Factors that Will Drive Growth in Retail Media in 2022.