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What podcasters are saying about Consumer & retail
Summary
In the past 30 days, 14 speakers on 13 finance podcasts discussed Consumer & retail in 19 views. Chorus has followed Consumer & retail since September 25, 2026: 21 views from 16 speakers on 15 shows.
Who talks about it most
- Paul Donovan · 2
- Jeetu Patel · 2
- Lindsay Owens · 2
- Dana Telsey · 2
- Jeff Snider · 2
- Craig Fuller · 1
- Richard Walker · 1
- David Busch · 1
- Chris Whalen · 1
- Owen Zidar · 1
The latest views
Newest first. Every quote is checked against the episode's transcript.
Paul Donovan · UBS Global Wealth Management
Unaffordable housing for young people will shift their spending toward consumption rather than gambling.
In several developed economies younger people can no longer afford to buy a house, which is a significant issue for savings and consumption behavior. When home ownership is out of reach, people tend to save less and either indulge in conspicuous consumption, such as restaurant meals and foreign trips, or gamble. Recent tech breaches change the risks around gambling, but that probably does not change behavior. There might conceivably be a tilt toward spending and away from gambling if younger people feel the odds are stacked against them, but even that reaction is not certain.
“Younger people in several developed economies are no longer in a position to be able to afford to buy a house. That single fact is a significant issue for savings and consumption behavior... there might conceivably be a tilt towards the spending aspect and away from the gambling”at 3:44
UBS On-Air: UBS On-Air: Paul Donovan Daily Audio 'Dealing with the decidedly dull' ·
Jeetu Patel · Cisco
AI agents will shift retail business models, since they intermediate between retailers and consumers.
Patel contrasts today's retail model, where retailers reach consumers directly through advertising and upselling, with an agent-mediated model. In the new model a consumer's agent aggregates information across many retailers and returns an algorithmically chosen answer. He concludes this changes the business model, which the industry needs to think through. The argument is a mechanism-based view of how agents disintermediate retailers, with no timeline given.
“Now you might have an agent that you have to talk to. That agent aggregates the information across multitude of retailers and then provides an algorithm to give it back to the consumer. That changes the business model”at 9:15
Bloomberg Talks: Cisco Systems President & Chief Product Officer Jeetu Patel Talks AI Industry ·
Jeetu Patel · Cisco
AI agents will shift retail business models by aggregating consumers between retailers and shoppers.
Retailers now sell direct to consumers through advertising, upselling and cross-selling. With agents, consumers will have to go through an agent that aggregates offers across many retailers and recommends products. He says that changes the business model, and firms need to plan for it.
“Absolutely. Think about a retailer. In the past, a retailer would typically go direct to a consumer... Now you might have an agent that you have to talk to. That agent aggregates the information across multitude of retailers”at 35:03
Bloomberg Surveillance: Outlook for Inflation, Oil, and Tech ·
Craig Fuller · FreightWaves
Food and beverage volumes are seeing a sharp slowdown, a major laggard in freight.
Craig says food and beverage is a big laggard, with volumes slowing sharply. He cites several causes: population growth slowing as immigration into the US has cut off, SNAP no longer covering unhealthy products, shrinkflation reducing package weight, and GLP-1 drugs reducing appetite. Volume rather than dollars is the measure, since a $40 steak and a $5 steak both count as one unit.
“Food and beverage is actually a pretty big laggard right now. ... the food and beverage sector is seeing a pretty sharp slowdown in consumption.”at 7:22
Thoughtful Money: "No Signs Of The A.I. Party Slowing Down" | Craig Fuller ·
Richard Walker · Iceland Foods
Government must wholesale reform business rates to revive the high street.
Walker says the high street is the backbone of UK society and that reviving it is possible and should be done. Retail employment, culture and a sense of place all depend on it. He argues that business rates, a Victorian system that falls heavily on bricks-and-mortar retailers, need wholesale reform rather than tinkering at the edges. He questions whether the government has the guts to do it.
“Government can do something, to be honest, it's whether they've got the guts to do that. And it's... it has to be wholesale reform, not just tinkering around the edges, of our business rate taxation in The UK.”at 7:46
Bloomberg Talks: Iceland Chairman Richard Walker Talks 'Bold' UK Budget ·
Paul Donovan · UBS Global Wealth Management
UK retail prices are rising despite falling retail labour costs, which had been absorbing cost increases.
The British Retail Consortium shop price index came in higher than five economists had forecast. This is despite retail labour costs moderating, with retail employment falling and average earnings growth slowing very sharply this year. Retailers' labour costs are the largest single component of retail prices, and their moderation has absorbed at least some of the cost increases tied to the Gulf War.
“This is despite the fact that the labor costs in the retail sector have been moderating with falling retail employment and average earnings growth slowing very sharply in the retail sector this year.”at 2:48
UBS On-Air: UBS On-Air: Paul Donovan Daily Audio 'Policy, promises, and affordability' ·
David Busch · Trajan Wealth
Consumer staples should beat discretionary as middle-income shoppers trade down to lower-cost retailers and food.
In a K-shaped or two-speed economy, middle and upper-middle-class consumers are switching from higher-priced goods to lower-cost goods. Lower-cost retailers and food providers are catching a tailwind. The ultra-rich will keep buying luxury goods, but staples should win out as interest rates rise, the economy slows and unemployment increases.
“consumer staples should win out if especially as we head towards potential higher interest rates, potential slowdown in the economy, higher unemployment rates.”at 25:58
The David Lin Report: ‘Marching Towards Default’: Market’s Weakest Link Revealed | David Busch ·
Lindsay Owens · Groundwork Collaborative
Companies will use surveillance pricing to squeeze the rich and everyone else, not subsidise others.
Owens says personalized pricing is coming and will be used to take a lot from wealthy shoppers. She doubts it will cross-subsidise everyone else, because willingness to pay is not the same as ability to pay. People who are urgently in need, like a parent buying children's Tylenol for a sick child or someone who must get home to a funeral, will pay more even when they lack money. So companies will also seize on those moments, taking as much as they can from everyone else. Her evidence includes Expedia charging more for the same Manhattan room to users logging in from the affluent Bay Area and the Instacart and Uber experiments.
“I think what is most likely is companies will use these technologies to take a lot from the rich. They'll use it to take as much as they can from everyone else. But they'll also be spotting opportunities where our willingness to pay is high even if our ability to pay is not.”at 31:08
Odd Lots: AI Agents Are Already Changing the Price of Goods ·
Chris Whalen · Whalen Global Advisors LLC
Consumer products companies face margin pressure because higher diesel prices raise the cost of trucking goods to stores.
Diesel prices are not coming down, and Whalen says trucks are the way goods reach stores, whether durable, nondurable or food. Higher diesel costs squeeze margins for consumer products companies, and he expects that pain point to continue. He tells investors to be careful with these companies. Natural gas prices are down, which helps, but diesel and other refined products stay elevated.
“I think you've gotta be careful with consumer products companies here because they are suffering a lot of margin pressure due to higher diesel prices. Trucks are the way we get stuff into stores.”at 25:11
The Julia La Roche Show: #424 Chris Whalen: Fannie & Freddie Stuck, Foreclosures Rising, Credit Problems Coming ·
Owen Zidar · Princeton University
Restaurants remain open to upstarts like Dave's Hot Chicken and Raising Cane's, unlike protected beverage distribution.
Zidar argues that barriers to entry are industry-specific. In food, the examples are Dave's Hot Chicken, which succeeded on the quality of its chicken sandwiches, and Raising Cane's, which started from a single chicken-finger idea funded through risky work. Food is intensely competitive, with healthier options and wealthy franchise owners. Beverage distribution is different: it was once easy to enter with a truck and ice, but by the 1970s thousands of applicants competed for one slot, and many states block access. Liquor licenses in some towns are scarce for the same reason. Entry is easy in some sectors and tightly restricted in others.
“So I don't think that it's dead. ... So Dave's Hot Chicken, for example, has been enormously successful because they can make fantastic chicken sandwiches.”at 23:34
Prof G Markets: Meet The Millionaire Class That Really Runs America ·
Chris Harvey · CIBC Capital Markets
Consumer staples fundamentals are not impressive, so he avoids them despite Procter & Gamble's strong numbers.
Harvey says he was not thrilled with the fundamentals of staples, even though Procter & Gamble's numbers were great. He prefers utilities over health care or staples as defensive exposure.
“I wasn't particularly thrilled with the fundamentals of staples, though P and G's numbers were great.”at 18:47
CNBC Fast Money: Tech Tumbles In Market Sell-Off… And Moderna’s Meltdown After Data Leak 10/22/26 ·
Kevin Gordon · Charles Schwab (Schwab Center for Financial Research)
Consumers are not pulling back yet, but treating high energy prices as permanent would be a bigger economic risk.
The latest retail sales report may show early effects of high energy prices, but spending is not decisively falling. Labor market strength is still supporting spending. The risk grows as holiday season approaches and households start to view energy prices as permanent.
“Not decisively pulling back, in terms of not spending, but I think the strength of the labor market, is still a support there... people start to treat some of these energy prices, you know, as permanent. That to me, I think, is a much bigger story for the economy.”at 2:54
CNBC Power Lunch: Tech Earnings Season, SpaceX Targeting Telecoms, CME Group CEO Interview 10/21/26 ·
Dana Telsey · Telsey Advisory Group
Lab-grown diamonds are far cheaper, but natural stones keep demand for authenticity.
The cost gap between lab-grown and natural diamonds is very large, and lab-grown stones come in bigger sizes. Even so, buyers still want authenticity and natural stones. She points to bridal demand picking up as evidence of a return to natural, and to Japanese buyers favoring smaller, higher-quality pieces.
“The cost differential is definitely vast with lab grown, and you can get larger stone sizes for lab grown. However, there's still a demand for authenticity and natural stones.”at 5:09
Bloomberg Talks: Telsey Advisory Group Founder Dana Telsey Talks GLP-1s ·
Dana Telsey · Telsey Advisory Group
Activewear is slowing while fashion and occasion wear grows as people dress up again.
The COVID-era athleisure trend, when people worked on Zoom, has faded. Activewear has slowed while fashion and occasion wear has grown. She cites people dressing up for events, suits returning without ties, dresses, skirts and brown suede boots as examples of the shift.
“activewear has slowed, fashion and occasion wear has grown. People are dressing up.”at 6:32
Bloomberg Talks: Telsey Advisory Group Founder Dana Telsey Talks GLP-1s ·
Holly Wade · NFIB (National Federation of Independent Business)
Small retailers struggle to match big-box prices because they cannot spread costs across many products.
Small businesses fear competing with larger rivals and being unable to match their prices while absorbing higher costs. Many depend on long-standing vendor relationships and find it hard to switch to cheaper suppliers, which removes an escape route. Small firms also sell narrower product ranges, so they cannot spread higher costs across a wide inventory as larger retailers can. This makes it difficult for them to absorb costs and keep customers from moving to bigger competitors.
“this is one of their biggest fears is competing with their larger competitors and not being able to be price competitive with them”at 22:55
The David Lin Report: Your Paycheck In 2027: Will You Get A Raise Or Get Laid Off? | Holly Wade ·
Jeff Snider · Atlas Financial
AI-driven memory chip costs are cutting smartphone volumes; higher prices with lower volume is demand destruction, not inflation.
Snider cites global smartphone shipments falling about 22% year over year in Q3 to roughly 251 million units, after declines of 3% in Q1 and 7% in Q2. He attributes this to AI infrastructure consuming large amounts of memory chips and other components, which raises component costs for handset makers. Rather than pass every increase on while selling the same number of phones, manufacturers cut lower-priced models and focused on premium products. Lower-income buyers responded by buying fewer phones, holding older devices longer, buying used handsets, or leaving the market. He uses this to argue that a supply shock can raise measured prices while weakening the economy underneath, because households can't generate more income to absorb it.
“AI infrastructure is consuming enormous quantities of memory chips and other components. That has pushed component costs in particular higher for handset manufacturers.”at 16:33
Eurodollar University: You Won't Believe What Just Happened in the Bond Market ·
Lindsay Owens · Groundwork Collaborative
Surveillance pricing squeezes all consumers, and better willingness-to-pay estimates will capture most surplus regardless of income.
Owens rejects the idea that surveillance pricing is a corporate Robin Hood, where the rich subsidise lower prices for the poor. She argues the aim is to squeeze everyone as much as possible, so lower-income shoppers may be squeezed less but everyone still pays more. Willingness to pay and income are not the same. Desperate buyers, such as someone who must fly to a funeral or buy children's medicine for a sick child, will pay more. As firms get better at estimating willingness to pay, she expects them to capture most of the consumer surplus whatever a shopper's income. Her examples include Expedia charging people from higher-income areas more for the same Manhattan hotel room, and the data firms collect, from car type to a child's age, that feeds this pricing.
“the goal of surveillance pricing is to squeeze everyone as much as they can.”at 24:19
Masters in Business: At The Money: Is Technology Price Gouging Consumers? ·
Barry Ritholtz · Ritholtz Wealth Management
Dynamic pricing will trigger a consumer backlash and state legislation; retailers are in an arms race with shoppers.
Ritholtz describes an arms race between consumers and retailers, citing Walmart's shelf-pricing technology that prices items by shopper context and his own experience of Uber and Lyft fares for the same ride differing. He believes this will provoke a backlash, that state legislation is inevitable, and that early lawsuits against such pricing already exist. He links the backlash to rising populism, and argues that politicians will soon blame companies' shrinkflation and dynamic pricing, not just the war, tariffs and deficits, for inflation, which he says accounts for a third to a quarter of price increases.
“I think there is a backlash against some of this dynamic pricing, and I can't imagine this isn't gonna show up in some state legislation... but it's only starting.”at 41:07
Excess Returns: AI Productivity Is Real. 83% of Stocks Are 10% Off Highs. Why Does Barry Ritholtz Like Bonds Again? ·
Jeff Snider · Atlas Financial
Retailers such as Walmart, Dick's and Kroger reflect an affordability squeeze reaching the middle class.
He cites Georgetown Law Center research finding that 70% of Americans struggle with multiple affordability issues, 41% face a health care burden, a third face a housing burden, and nearly a third face a food burden. He says this struggle reaches well into the middle class and points to Walmart, Dick's, Kroger and a wide range of retailers as evidence. He implies consumer-facing retail is among the weakest parts of the S&P 500, which he links to the weak labor market and income data. The argument is that retail stress comes from income failing to keep pace with living costs.
“And that struggle, as we know, reaches well into the middle class. Just ask Walmart, Dick's, Kroger, and a wide range of retailers.”at 3:55
Eurodollar University: This Is What Consumers 'Always' Do Before a Recession ·
Ben Carlson · Ritholtz Wealth Management
AI agents helping consumers cancel unused subscriptions is hurting businesses like Planet Fitness and NYT.
Carlson says he plans to use AI to review and cancel subscriptions unused in the past 12 months, and that this is why Planet Fitness, the New York Times and similar businesses sold off. He is unsure what the consequences will be, such as businesses blocking agents or raising prices to offset cancellations.
“I don't know what the unintended consequences are gonna be of these businesses just blocking all these agents.”at 34:29
Animal Spirits: Will Higher Rates Kill the Stock Market? (EP. 484) ·
DCP
Beaten-down consumer and food-service stocks trade at multiyear lows despite being relatively good companies.
DCP points to a list of stocks down sharply from their highs, including Nike, McDonald's, Pepsi, Disney, Wendy's, Campbell's, Kraft and Lululemon. He notes that none of them are AI names, as most relate to food service or consumer themes, and suggests they may be recipients of a K-shaped economy. He calls these multiyear lows for relatively good companies and says this is where some money will be made. He does not want to short these laggards, and prefers to avoid taking a position on them.
“Those are multiyear lows, and they're relatively good companies.”at 45:30
Forward Guidance: The Bond Market Pain Isn't Over | Weekly Roundup ·
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