Sketched, the consumer in 2023
In a shortened week, we revisit some of the most well-read sketches from the 230 we published this year on the consumer, technology, and sustainability.
Pop star Taylor Swift may have scored a music industry first, with a mention in the In the US Federal Reserve’s recent Beige Book, their summary of commentary on current economic conditions. According to the report, attendees’ of Swift concerts were also lifting demand for hotel rooms and other services.
Source: PWC, June 2023
The US Consumer Confidence Index rose in November to 102, up from 99.1 in October, according to the Conference Board. Sentiment elsewhere remains subdued, however, with the OECD reporting a continued decline in confidence across other member states.
Source: OECD, December 2023
India’s middle class is on the rise. The proportion of households in India with an annual income of USD 10,000 to USD 35,000 is expected to nearly double from 24% in 2021 to 46% by 2031.
Source: Morgan Stanley, 2023
The growing adoption of weight loss drugs that suppress appetite is likely going to impact consumers’ food and beverage purchasing behavior.
Source: Numerator, Morgan Stanley, 2023