'Choiceful' Is the New C-Suite Buzzword as Consumer Spending Behavior Shifts in 2023
"Choiceful" has become the favorite new word used by CEOs in quarterly earnings calls to describe consumer spending behavior. According to a CNBC analysis, "choiceful" appeared in 15 S&P 500 company earnings calls so far in 2023, up from just 2 mentions in 2021. "Choiceful" describes today's consumer who is cutting back on spending but still willing to splurge on worthwhile items. Inflation has led consumers to be more choosy with their purchases, negatively impacting some businesses but benefiting high-end retailers like Ralph Lauren that offer investment pieces. Companies are using "choiceful" to emphasize their disciplined, non-overly aggressive strategies for areas like price increases and expansion into new categories during uncertain economic times.
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00:00 Benzinga and here's what's on the block. Choiceful has become the new favorite word
00:04 used by CEOs in quarterly earnings calls to describe consumer spending behavior.
00:09 According to a CNBC analysis, Choiceful appeared in 15 S&P 500 company earnings calls so far in
00:16 2023, up from just two mentions in 2021. Choiceful describes today's consumers cutting back on
00:23 spending but still willing to splurge on worthwhile items. Inflation has led consumers to be more
00:29 choosy with their purchases, negatively impacting some businesses but benefiting high-end retailers
00:34 like Ralph Lauren that offer investment pieces. Companies are using Choiceful to emphasize their
00:39 disciplined, non-overly aggressive strategies for areas like price increases and expansion
00:44 into new categories during uncertain economic times. For all things money visit Benzinga.com
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