The history of retail in Colombia Dynamic changes have been taking place in the retail sector of the Latin American countries Colombia, Argentina, Peru, Uruguay, Brazil and Chile (A. T. Kearney, 2007). These entail store development, mergers and acquisitions, foreign direct investment and the implementation of own label as one of the sources of competitive advantage for foreign and domestic retailers (Nielsen, 2005). The retail sector in Colombia is considered to be one of the most modern in the Latin American region (Gain, 2006), and one of the top ten fastest growing own label markets worldwide (ACNielsen, 2005).