Posted 10/25/2023, 10:00:13 AM
As Excess Savings Dwindle, Stocks Like Lululemon Could Benefit from High-Income Consumers' Spending Power
- Low-to-middle income consumers have spent excess pandemic savings, high-income consumers have savings left
- Recommending stocks that cater to high-income consumers like Lululemon
- Factors driving consumer pullback excess purchases in last few years, slowing growth in retail/apparel/footwear
- Expect continued slow decline in consumer spending, not Armageddon
- Early on, consumers may favor experiences over goods
- Wage growth and low unemployment are positives but see slow grind over next 12 months