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Retail media has become one of the most dynamic formats in the media ecosystem globally — and Latin America is no exception.
Produced by Publicis Commerce LatAm, this first Retail Media Report Card for the region takes a close look at the current state of the region and the key dynamics shaping its accelerated — but still maturing — growth. Retail media ad spending in the region is expected to surpass USD $2.6 billion in 2025, growing over 40% vs. the previous year.
While the segment is still emerging, retail media is already recognized as the fastest-growing digital format in the region. The appeal lies in its unique ability to connect media investments with commercial outcomes, leveraging the retailer’s first-party data, high-intent audiences, and performance-focused touch points.
Despite this momentum, however, our experience working with brands and agencies across Latin America reveals a clear reality: there is still significant ground to cover in strategic planning and commercial negotiation. Much of the ecosystem is still evaluating the cost-effectiveness of retail media investments, benchmarking results, and defining common KPIs and efficient cost structures.
Success in retail media isn’t just about technology or new ad formats. It’s about redefining how we approach marketing. Retail media should be deeply integrated into go-to-market strategies. Brands that treat RMNs as a core channel connected to shopper insights, media planning, and commercial teams will be better positioned to win at the digital shelf.
At Publicis Commerce LatAm — now supported by the expertise of Mars United’s Retail Consultancy practice — we are dedicated to building frameworks and partnerships that empower brands to lead the way in this new frontier. That involves empowering teams through training, designing local-to-regional operating models, and creating measurement systems that assess real business impact and drive real business growth.
To help brand advertisers around the world better understand the many opportunities available, and to encourage the development of industry standards that might ultimately improve both the collab-orative process and overall network effectiveness, Mars United began publishing this Retail Media Report Card in the U.S. in 2022. The coverage has since expanded to Europe, Canada, Australia-New Zealand, and now Latin America.
Each Report Card is updated regularly to stay ahead of the rapidly evolving capabilities of existing networks, the ongoing launch of new platforms, and overall maturation of the marketplace. Retail media in LatAm is still in its infancy, and many of the 20 leading networks showcased in this report are still building out their offerings. For that reason, this inaugural report contains in-depth profiles of just six networks, and only the nine regional platforms are evaluated for their Innovation capabilities (see page 24).
Therefore, this first LatAm edition of our Retail Media Report Card is not just a snapshot of the marketplace’s current state — it’s an invitation to join us as we work to help shape the future of our ecosystem.
