Many retailers in Latin America like Mercado Libre, Rappi, and even Walmart function not only as commerce players, but as financial institutions as well. As a result, commerce media in Latin America is charting a different course than it has in the US, one that could result in unique opportunities for companies with access not only to shopper habits, but to financial data as well.

Multi-industry players have the power to redefine the future of commerce media advertising. Unlike in the US, where retailers and FIs typically operate independently, many Latin American retailers act as financial services providers—offering credit lines, digital wallets, and other banking products to unbanked and underbanked consumers.

Latin America’s commerce media ecosystem is rapidly evolving. Financial, travel, and other nonretail players are now looking to monetize their own first-party data—following the path retailers have already paved.

Skai launches Celeste AI to streamline commerce media: Celeste combines cross-channel analysis and optimization, cutting task time from hours to seconds.

Bridging the retail media measurement gap: Night Market’s AI-powered platform draws interest as brands seek clearer metrics.

Retail media’s rapid growth has spurred nonretail verticals to harness their first-party data to fuel their own commerce media networks. Retail media spending still dominates the commerce media landscape, but distinct challenger cohorts are finding their footing.

Nearly every major retailer (and many smaller ones) has already launched media networks, but it’s not just for retailers anymore. While networks beyond retail have already begun to launch, 2025 will see more financial institutions, payment networks, travel companies, fitness centers, and more launch or revamp their own media networks. And as commerce media expands, so do the places ads are being served.

Non-retail commerce media channels typically mean payments, travel, and intermediaries that overlap with retail. But more nontraditional commerce media networks have been popping up from places like Mohegan’s casinos, RE/MAX’s real estate websites, and Planet Fitness’ gyms.

Pinterest’s AI-driven ad strategy and shopping expansion drive Q4 growth: Revenue surges 18% YoY as Gen Z engagement and ad performance improve.

Getting your commerce media tech stack right takes time. Building partnerships and integrating workflows likely won’t happen all at once, so businesses should shop the market for the right partnerships, implement with care, and make sure to evaluate and reevaluate your operations as you scale. Here are steps businesses should keep in mind.

LiveRamp CEO's growth strategy: Neutral positioning and network effects fuel commerce media and CTV expansion as ad budgets rebound.

The year started with a flurry of commerce media news, from Meijer Media expanding into off-site channels to Microsoft’s new ad capabilities.

Financial institutions (FIs) will burst through the financial media network (FMN) door first cracked open in 2024. Chase made headlines in April by announcing its new ad business, followed by PayPal in May. They’re the most high-profile FIs to do so yet, signaling that FMNs could be a meaningful new revenue stream for the financial services industry.

Halfway through the current decade, retail media has bled into the wider concept of commerce media, which will be a $68.69 billion industry in the US this year, per our December 2024 forecast.

Latin America’s digital economy will undergo significant changes in 2025 as retail innovation and regulatory changes redefine business dynamics for global and local players alike.

Traveling for the holidays? Here are four episodes of our "Reimagining Retail" podcast for your listening pleasure.

Half (49%) of people in the US are traveling between Thanksgiving and mid-January, according to Deloitte. With so many people getting on planes, trains, and automobiles, advertisers have increased opportunities to reach consumers across travel media networks, especially those who are younger and higher-income.

To keep pace in a complex landscape and meet increasing demands from advertisers, commerce media players need to invest in fresh channels, tools, and innovation.

Commerce media networks are expanding beyond retail into new verticals like travel and financial services, creating opportunities for targeted advertising using first-party purchase data. The key to growth will be achieving a delicate balance, and engaging—rather than alienating—consumers.

Companies large and small will net hundreds of billions in US incremental ecommerce and digital ad dollars in the next two years. Who will be the big winners?