Brazil set to lead global retail media growth for a third straight year: +38.4% in 2026

eMarketer projections reported by E-Commerce Brasil place Brazil as the fastest-growing retail media market in the world for the third consecutive year: a forecast 38.4% rise in 2026 to US$ 1.67 billion, on a path to US$ 3.14 billion in 2029. Across Latin America, the segment is expected to more than double between 2024 and 2028.

What this means for advertisers in Brazil: the digital shelf has become a media vehicle — Mercado Livre, Amazon and the large retailers are selling audience backed by first-party purchase data. Consumer brands should test retail media while the auction is still young, and measure incrementality from the first real spent.