The Colombian capital became the epicenter of the most relevant conversations about consumption and retail during the Latin Consumer Summit - Chapter Bogotá, an exclusive event organized by Grupo Ohla that took place on February 21st. This meeting served as a prelude to the much-anticipated 3rd Latin Consumer Summit, which will be held on May 8th and 9th at FIU in Miami.

Latin Consumer Summit - Chapter Bogotá brought together 120 executives and top experts in retail and consumption, who analyzed emerging trends, the most relevant challenges of the Latin American market, and key strategies to connect with consumers.

One of the highlights was the participation of Mauricio Reina, a renowned Colombian economist and associate researcher at Fedesarrollo, who offered an in-depth analysis of the political and economic context of the region. His presentation led to the panel discussion "How to Win Over the Latin Consumer?", where Alberto Mario Rincón, General Director of Central America and the Andean Region of L'Oréal; Alberto Recio, Managing Director of the Andean Cluster and President of Coltabaco (Philip Morris International); Antonio Hernández, General Manager of Colombia and Peru at Haleon; and Martha Arbeláez, Marketing and Communication Director at Nestlé Colombia, shared effective strategies to strengthen the bond between brands and consumers in an increasingly competitive environment.

Mauricio Reina began with a political and economic analysis of Colombia and stated that "We have two warning lights: inflation and fiscal imbalance. Although inflation has been decreasing, its decline has stagnated. One issue is Donald Trump, who has issued executive orders challenging the limits of the other two branches of government. His threat to increase tariffs could lead to an inflationary spike in the U.S. of between 1.5% and 2%. Tariffs will remain a threat, which hinders the reduction of interest rates and generates pressures that elevate our rates in Colombia due to capital outflows. This, in turn, slows down economic activity."

Future of Artificial Intelligence

Juan Manuel Saravia, CEO of Ohla Analytics, presented his vision for the future of artificial intelligence in 2025, highlighting the evolution towards autonomous agents. He explained that these computational models, upon receiving a specific objective, can integrate with various tools and technologies, allowing AI to create new industries and transform businesses that were previously considered unviable into profitable opportunities. According to estimates by McKinsey, the use of generative AI could generate an additional $160 billion to $270 billion in earnings (measured by EBITDA) for consumer packaged goods (CPG) companies globally.

Panel Discussion: How to Win Over the Latin Shopper?

Alberto Mario Rincón, General Director of Central America and the Andean Region of L'Oréal, highlighted that "the goal is to win over the consumer from the brand-building process, ensuring it is relevant to them. We constantly ask ourselves: what does the brand do for society and the environment? Digital influence is key in this process; currently, we work with more than 4,000 paid influencers. The brand's relevance must be maintained at every touchpoint with the consumer, as winning over is holistic. Additionally, building a strong brand does not necessarily mean being the most expensive."

Alberto Recio, Managing Director of the Andean Cluster and President of Coltabaco (Philip Morris International), stated that "approximately 40% of our revenue comes from smoke-free products. We believe it is right to offer smokers a better alternative with reduced risk profiles. We target exclusively adults and nicotine users, approaching them in their consumption spaces. In Colombia, this means reaching neighborhoods and communities, where people enjoy time with friends and watch games. Our strategy is to be present in these spaces and create experiences that attract them to smoke-free alternatives."

Antonio Hernández, General Manager of Colombia and Peru at Haleon, specified that "our focus is on understanding consumer needs, as by doing so, we can generate a positive impact on their future well-being. We seek to make health accessible and part of daily life. In Colombia, health reform is a critical issue, and the best way to contribute is by betting on prevention. We focus on pain management, digestive health, muscle spasms, and dermatological fungal treatments."

Martha Arbelaez, Marketing and Communication Director at Nestlé Colombia, emphasized that "the great challenge is to keep the consumer captivated when the price variable is decisive in their purchasing decision. In a highly competitive market, if the consumer truly understands the benefit of a product, their choice criteria go beyond price. At Nestlé, we do not sacrifice quality for lower costs; we work on providing real benefits through food experiences and transparency. The key lies in segmentation: if we understand the needs of each group and the benefits they seek, we can connect with them and develop relevant products. Investment in marketing is essential for this purpose, and the Colombian market is full of opportunities."

"In a context of accelerated changes, the Latin Consumer Summit - Chapter Bogotá was an invaluable opportunity to align strategies and strengthen networks among key executives in retail and consumption in Latin America. This space for conversation was essential for those seeking to understand how to connect better with today's consumers," said Victoria Salazar, partner at Grupo Ohla.

This event not only allowed for the exchange of ideas and experiences, but also marked the beginning of the conversation that will continue at the 3rd Latin Consumer Summit in Miami. This meeting will gather in May the most influential voices in the sector at the regional level, offering a comprehensive view of the trends and challenges that will shape the future of consumption.

"Consumer trends are constantly evolving, and brands must anticipate these changes. This meeting was a unique opportunity to understand where the market is heading. The 3rd Latin Consumer Summit will be a fundamental meeting point for industry executives in the region. In Bogotá, we offered a first look at the most relevant topics that will impact businesses in the medium term," highlighted Antonio Monckeberg, CEO of Grupo Ohla.