PwC: Next in consumer markets 2023: Poised for growth, despite economic uncertainty
Consumer-facing companies saw their prospects for growth buffeted by geopolitical and macroeconomic crosswinds in 2022. Leaders are still watching those conditions closely as they advance into 2023.
Some of the uncertainty that clouded business operations over the past year is dissipating. Tax policy is coming into clearer focus with more certainty about the political makeup of Congress. Inflation could be easing, although consumer markets (CM) leaders remain concerned about a decline in consumer purchasing power.
Will the next six months bring an economic recession, as the majority of CM leaders expect? That remains to be seen. Despite this and other areas of uncertainty, some trends within the sector are evident.
In 2023, we can likely expect significant disruptive forces — which have been afoot for a while now — to continue to transform the industry, from environmental and technological advances to social and human capital developments. Rather than cede control to external economic forces, CM companies are well-positioned to help steer the future of the industry in the year ahead — and beyond.
