Consumer spending is going through a 'normalization': Analyst

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Amid questions around slowing consumer spending, RBC's Capital Markets Managing Director, Nik Modi, says consumers are not entirely cutting back on spending but instead exhibiting caution. Shoppers still buy desired goods, just in notably smaller quantities or sizes. Modi notes beauty categories and fragrances typically see seasonal demand boosts, however the beauty sector has faced slight declines and lower store foot traffic could impact the category. Rather than elimination, Modi sees ongoing "normalization" in discretionary consumer spend. Consumers remain interested in indulgent purchases, though perhaps at more measured levels aligned with cooling factors like inflation. "They still want that candy bar, but they're buying a smaller size. They still want that beverage/alcohol product or spirits, but they're going to 750 mL instead of one and a half liters," Modi tells Yahoo Finance, adding: "...in some instances we're just seeing consumers make choices." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb #youtube #stockmarket #yahoofinance About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest w

Published 2023-11-17 · Watch on YouTube ↗
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