MONEY AND LIFE

Weight-Loss Drugs Are Slimming Waistlines and Wardrobes

By: Anneken Tappe · June 18, 2024 · Reading Time: 2 minutes

Weight-Loss Wave

The rise of weight-loss drugs hasn’t just changed the pharmaceutical industry. The popularity of medications like Novo Nordisk’s (NVO) Ozempic and Eli Lilly’s (LLY) Zepbound has rippled across sectors, from grocery stores to Greek yogurt makers. Last year, Walmart (WMT) CEO John Furner prominently said that weight-loss drugs changed people’s shopping behavior.

Now, clothing retailers may be affected, too.

Sizing Down

Some 6% of U.S. adults, or 15.5 million Americans have used these weight-loss drugs, according to a Gallup survey. And with millions of waistlines slimming down, it’s only logical that wardrobes could follow.

Several retailers have noted a shift in shopping habits. For example, fashion rental platform Rent the Runway (RENT) has noticed more customers sizing down, as reported in the Wall Street Journal .

This shift to smaller sizes is good news for clothing companies as it could mean higher revenues in the near term as shoppers update their wardrobes.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Check it out


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.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. 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.
SOSS24061803

TLS 1.2 Encrypted
Equal Housing Lender