Advantage Outlook report<\/a><\/p>\nThe big picture, however, is a bit more complex: Lower- and middle-income shoppers pinched by higher prices continue to seek value as they manage grocery prices that remain significantly above pre-pandemic levels. And on the upper end of the economic spectrum, higher-income consumers\u2019 increasing use of GLP-1 drugs, such as Ozempic and Wegovy, is suppressing demand in some food categories \u2014 a relatively new trend that retailers and CPG companies are monitoring closely.<\/p>\n
A Cautious But Resilient Consumer<\/h2>\n
\u201cWe\u2019re seeing a resilient consumer, but at the same time, (retail sales remain) a little bit sluggish, especially in \u2026 food and personal care,\u201d Advantage Solutions CEO Dave Peacock said in a recent interview on the Bloomberg Intelligence radio segment and podcast. \u201cWhat we see is lower-income consumers are really strained in this economy.\u201d<\/p>\n
Many are still struggling to make ends meet, even as wage growth has largely caught up to inflation, Peacock said.<\/p>\n
In response, more consumers this holiday season are seeking to offset higher prices by turning to private brands for value and buying bulk items to split with family and friends, according to Advantage\u2019s recent research on Thanksgiving shopping.<\/p>\n
Continued (or new) cost pressures on lower- and middle-income shoppers also could affect sales of items such as snacks, sodas and other non-essential treats and indulgences, which tend to expand and contract based on the economy.<\/p>\n
Income Segments Shift Channels and Timing<\/h3>\n
Consumers across income levels also continue to seek value by shifting from traditional grocery stores to value and club stores, Peacock said. Earlier this month, for instance, Walmart specifically cited households making more than $100,000 as the key driver for its quarterly same-store sales and profit growth.<\/p>\n
Nonetheless, higher-income households are expected to spend more this holiday season compared to last year, according to a recent Morgan Stanley report titled \u201cHoliday Shopping: A Little More Holiday Cheer?\u201d<\/p>\n
With inflation abating, Morgan Stanley economists expect that growth in real holiday spending \u201cwill be stronger than growth in nominal spending when compared to last year,\u201d according to the report. \u201cHigher-income consumers will likely still drive the strength.\u201d<\/p>\n
Still, with this year\u2019s compressed holiday shopping season (which spans just 27 days between Thanksgiving and Christmas), how the final tally shakes out will be worth watching. <\/p>\n
\u201cIt will be interesting to see how supply chains hold up relative to a more compressed demand,\u201d Peacock said in the Bloomberg interview.<\/p>\n
Many shoppers have already begun checking off items on their lists with a bevy of early promotions in October from retail giants such as Amazon, Walmart and Target. According to Advantage research, 64% said they would shop earlier than usual to pounce on deals.<\/p>\n
That could translate into another uptick in<\/strong> <\/strong>retail sales<\/strong> <\/strong>for November.<\/p>\nWhatever comes, Advantage stands ready to help brands and retailers navigate, Peacock said.<\/p>\n
\u201cAs inflation continues to abate, you should see growing consumer confidence\u201d in the months ahead, Peacock said. \u201cFrom a broad industry standpoint, I\u2019m optimistic \u2014 especially as we get into the second half of 2025.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
With Black Friday looming, holiday shoppers could deliver a jolt to the U.S. economy, as consumer spending is expected to grow \u2014 the result of higher prices and, for some anyway, growing consumer confidence. Retail sales in the U.S. grew again, about 0.4% from September to October, according to the latest monthly estimates from the […]<\/p>\n","protected":false},"featured_media":2322,"menu_order":0,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"mrktblog-category":[41],"class_list":["post-2323","mrktblog-posts","type-mrktblog-posts","status-publish","format-standard","has-post-thumbnail","hentry","mrktblog-category-advantage-news"],"acf":[],"yoast_head":"\n
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