Consumer IPO Prospects in 2024 at Risk From Spending Pullback
- Shoppers in focus after 4Q slowdown: ICR conference attendees
- Shein, Panera Bread among potential debutants this year
US shoppers had largely brushed off rising interest rates thanks to pandemic-era savings buffers and strong jobs growth.
Photographer: Eilon Paz/BloombergThis article is for subscribers only.
Consumer and retail companies weighing initial public offerings in 2024 will be closely watching the spending outlook for their customers, after the surprisingly bright picture began to darken at the end of last year.
US shoppers had largely brushed off rising interest rates thanks to pandemic-era savings buffers and strong jobs growth. That was before monthly data on personal spending showed discretionary categories like cars, furniture and gym memberships began to slow in the fourth quarter.