Consumer companies are facing a challenging time due to concerns over the Federal Reserve's possible decision to continue increasing interest rates, driven by strong economic data.
Increased Demand in New-Home Sales
In September, new-home sales saw a significant increase of 12%, reaching an annual rate of 759,000. This surge was largely driven by a shortage of inventory in the used-home sales market, leading more buyers to turn their attention towards homebuilders.
Unilever's New Marketing Chief
Unilever, renowned as one of the world's largest advertisers, is preparing to appoint Esi Eggleston Bracey, currently the head of its U.S. division, as its new marketing chief. In this role, she will be responsible for overseeing an impressive ad budget of approximately $8.6 billion as per the latest reports from The Wall Street Journal.
Heineken's Full-Year Earnings Projection
Despite third-quarter revenue slightly falling short of market expectations, Dutch brewer Heineken has reaffirmed its full-year earnings projection.
Impact on Apparel Retailers and the Millennial Generation
According to analysts at Bank of America Global Research, apparel retailers may face challenges ahead due to rising mortgage rates and economic slowdown. The Millennial generation is expected to be particularly affected by these factors. Boomers tend to allocate more of their budget towards health care, entertainment, and home improvement, while Millennials prioritize spending on housing and apparel. As post-Covid trends normalize, there is potential for greater growth in the sale of goods over services. However, travel remains the top priority for discretionary spending among the 50+ age group, accounting for around 85% of their expenditures.
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