Influencer Advertising - Peru | Statista Market Forecast

Ad spending in the Influencer Advertising market in Peru is forecasted to reach US$25.55m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 8.13%, leading to a projected market volume of US$40.84m by 2030.
The average ad spending per internet user in the Influencer Advertising market in Peru is estimated to be US$0.89 in 2024.
When compared globally, China is expected to generate the highest ad spending, reaching US$19.16bn in 2024.
In Peru, Influencer Advertising is rapidly gaining traction as a key strategy for brands to reach their target audiences effectively.

Definition:
Influencer Advertising refers to advertising that allows marketers to promote products or services by collaborating with influencers on social media. Influencer Advertising allows marketers to reach targeted audiences based on the influencer’s performance and their follower profiles; they also have the ability to measure the performance of campaigns. Influencer Advertising refers to all advertising fees paid directly to influencers (or to their person of trust or representative) for posting or streaming sponsored content (e.g., posts, videos, and/or stories) on social media to promote products or services to their followers. This sponsored content typically includes images, videos, live streams, and/or text.

Additional information:
Influencer Advertising comprises advertising spending, users, and average revenue per user. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. For more information on the data displayed, use the info button right next to the boxes.

Advertising spending paid directly to influencers to post sponsored content

The values of giveaway products as well as services that influencers receive in exchange for reviews, mentions, or giveaways for their followers
Advertising spending allocated to paid social media campaigns to boost content
Affiliate commissions, i.e., the commissions that are paid to influencers when someone makes a purchase based on their content or links
Gross merchandise volume (GMV) of transactions from sponsored posts or live streams

Influencer advertising has become a prominent marketing strategy in Peru, with brands increasingly turning to influencers to promote their products and services. This trend can be attributed to several factors, including changing customer preferences, the rise of social media platforms, and the unique characteristics of the Peruvian market. Customer preferences in Peru have shifted towards more personalized and authentic forms of advertising. Traditional forms of advertising, such as TV commercials and print ads, are often seen as impersonal and less trustworthy. In contrast, influencer advertising allows brands to connect with consumers on a more personal level, as influencers are seen as relatable and trustworthy figures. This has led to a growing demand for influencer collaborations among Peruvian consumers. The rise of social media platforms, such as Instagram and YouTube, has also played a significant role in the development of the influencer advertising market in Peru. These platforms provide a space for influencers to showcase their content and engage with their audience. With a large number of Peruvians actively using social media, brands have recognized the potential reach and impact of influencer advertising in this digital landscape. In terms of trends in the market, there has been a notable increase in the number of micro-influencers in Peru. Micro-influencers are individuals with a smaller but highly engaged following on social media. Brands are increasingly partnering with micro-influencers as they offer a more targeted and niche audience. This trend is driven by the desire to reach specific consumer segments and maximize the effectiveness of influencer campaigns. Another trend in the market is the diversification of influencer content. While fashion and beauty influencers have traditionally dominated the market, there is now a growing demand for influencers in other sectors, such as food, travel, and fitness. This reflects the evolving interests and preferences of Peruvian consumers, who are seeking a wider range of content and recommendations from influencers. In addition to customer preferences and market trends, there are also local special circumstances that contribute to the development of the influencer advertising market in Peru. One such circumstance is the high level of mobile phone penetration in the country. Peru has a large population of smartphone users, which provides a fertile ground for influencer marketing campaigns that are primarily consumed on mobile devices. Underlying macroeconomic factors also play a role in the growth of the influencer advertising market in Peru. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has created a favorable environment for brands to invest in influencer advertising as a means to capture the attention and purchasing power of Peruvian consumers. Overall, the influencer advertising market in Peru is developing rapidly due to changing customer preferences, the rise of social media platforms, local special circumstances, and underlying macroeconomic factors. As brands continue to recognize the value of influencer collaborations, it is expected that this market will continue to thrive in the coming years.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on influencer advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising fees paid directly to influencers to post sponsored content.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from independent databases, influencer marketing platforms, and third-party reports to analyze and estimate global influencer advertising spending. We start by researching on the average cost per content post on each social media platform, the number of influencers available on advertising platforms (breakdown by tier: nano, micro, macro, and mega), and the average number of posts per year. Then we estimate the market size for each country individually. We use relevant key market indicators and data from country-specific industry associations, such as GDP, social media users, and digital consumer spending. Lastly, we benchmark key countries or regions (global, United States, China, etc.) with external sources.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Influencer marketing has become one of the most popular and effective forms of online marketing. With millions of internet users browsing social media platforms for entertainment, inspiration, and product recommendations daily, it is no surprise that marketers are harnessing the power of social media’s most recognizable faces for promotion. The global influencer marketing market value stood at 21.1 billion U.S. dollars as of 2023, having more than tripled since 2019. As influencer endorsement continues to mature as an industry, the size and value of influencer marketing platforms also continue to expand every year, making collaborations between brands and creators more profitable than ever.