Corporate America’s New Favorite Word
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‘Choiceful’ has swiftly become the new buzzword in corporate boardrooms to describe consumers who are pickier about how they spend their money.
In 2023, this word was present in more than a dozen S&P 500 earnings calls, signaling its growing importance in the corporate vernacular.
The word is catching on in a nation that has been challenged by high inflation. Leaders like Doug McMillon of Walmart (WMT) have used ‘choiceful’ to characterize the selective spending nature of consumers, who are becoming more discerning about where they allocate their funds.
McDonald’s (MCD) Chris Kempczinski has described the company’s price increases as ‘choiceful’, seeking to balance business needs with consumer affordability. The term was also heard in Starbucks’ (SBUX) strategy discussions, emphasizing thoughtful management of expenses.
A ‘Choiceful’ Economy
The emergence of ‘choiceful’ as a key term in corporate dialogue represents a fundamental shift in economic perspectives.
CEOs are leveraging this term to reassure investors of their deliberate management choices during times of uncertainty. And it describes consumers, who, exhausted by the high prices on everything, have become more careful in spending their hard-earned cash.
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