US Consumer: Eat the Rich or Eat the Risk?
Date:聽December 4, 2023
Moderator: James Goldstein, CFA – Head of Retail, 草莓流氓视频
Panelists: David Bussey – Senior Leisure Analyst, 草莓流氓视频
James Dunn – Head of Consumer Goods & Leisure, 草莓流氓视频
Todd Duvick, CFA – Head of Autos, 草莓流氓视频
Summary:
- Looking For the Cracks: A relatively robust landscape for consumer spending is not without pockets of weakness. What鈥檚 in store for 2024?
- Does the Music Ever Stop?聽2023 has seen extremely robust leisure and entertainment demand. Is Taylor Swift a secret stimulative fiscal policy tool? Are we structurally in a 鈥渓eisure-for-life鈥� world? Where does the goods vs. services mix ultimately shake out?
- Inflation/Affordability: Rising cost pressure on non-discretionary goods is altering consumer behavior towards more value seeking behavior. On more discretionary/big ticket items, rapidly rising consumer financing costs bring additional pressure鈥� EVs are an interesting case study.
- That鈥檒l Cost You: Some relief on commodity costs, but labor cost growth persists, and it increasingly feels like 鈥淵ear of the Union鈥� with successes at UAW, Longshore, Rails, Culinary Union, etc. along with big wins for minimum wage advocates (CA fast food, etc.). How do corporates navigate rising labor costs?
- How to Play It?聽Picking the winners/losers in credits.
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