Bogotá became the focal point of the most important retail debate in Colombia with the celebration of CENCOMARCAS 2026, the National Convention of Shopping Centers, Stores, and Brands organized by FENALCO. The event brought together nearly 350 industry leaders, including developers, brands, operators, technology experts, and decision-makers.
“The event leaves us with one major conclusion: physical retail is undergoing a profound reinvention. Shopping centers are evolving into experience ecosystems, where shopping is only one component of a much broader proposal that integrates entertainment, gastronomy, services, culture, and social life,” stated Jaime Alberto Cabal, President of FENALCO.
According to experts participating in the convention, today’s consumer is no longer linear. Instead, the modern consumer is hybrid, combining channels, crossing platforms, and building their own decision-making journey. Consumers no longer respond to a single sales format, but rather to integrated experiences that organically connect the physical and digital worlds.
Industry discussions made it clear that true competition is no longer based solely on price or location, but on relevance. Brands that fail to establish emotional connections with consumers lose ground in purchasing decisions, while those capable of creating memorable experiences gain preference and long-term loyalty.
One of the most recurring themes throughout the discussions was the shift in consumption patterns. Households are allocating a greater share of their spending toward experiences, entertainment, and gastronomy, redefining the role of shopping centers as spaces for engagement and permanence rather than merely transactional environments.
At the same time, technology has become the central enabler of the new retail landscape. Digitalization, omnichannel integration, data analytics, and artificial intelligence are reshaping how brands interpret, anticipate, and respond to consumer behavior. However, the challenge is no longer purely technological, but strategic: understanding consumers more effectively and transforming those insights into agile business decisions.
Another key conclusion from the event was that speed has become a new competitive advantage. In an environment where consumer preferences constantly evolve, the retail sector’s ability to adapt determines which companies grow and which lose relevance.
The convention also highlighted a profound transformation in the structure of the sector itself. Relationships between suppliers and distributors are becoming increasingly interdependent, more demanding, and more focused on the joint creation of value, leaving behind traditional isolated negotiation models.
Shopping centers are now entering a stage of consolidation as urban platforms. Food & beverage has emerged as one of the primary traffic generators, while mixed-use developments integrating residential, commercial, office, and entertainment components are establishing themselves as the future model for urban development.
Beyond formats and infrastructure, the deepest transformation lies in the nature of the relationship with consumers. Today, attracting customers is no longer enough; the real challenge is bringing them back. Loyalty is no longer built through transactions, but through experiences.
In this sense, retail is moving toward a more sophisticated cycle of consumer engagement: retention, loyalty, and ultimately emotional connection. In this new cycle, proximity is no longer geographic, but emotional, based on a deep understanding of customers’ lifestyles and expectations.
The event also generated a broader reflection shared across the industry: consumers no longer return to places themselves, but to how those places made them feel. This premise is completely redefining the logic behind the design, operation, and strategy of commercial spaces.
The sector recognizes that the future of retail will not depend on a single factor, but on the integration of three major forces: experience, technology, and investment. It is within this convergence that the new competitiveness of commerce in Colombia will be defined.
“CENCOMARCAS 2026 not only revealed a shift in cycles, but a structural transition: the evolution from transaction-centered retail to experience-centered retail, where shopping centers cease to be shopping destinations and become living platforms for relationships, consumption, and community,” concluded Cabal Sanclemente.
