‘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.
Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.