Today on the program we welcome Fidelity Equity Research Analysts Brendan Cochrane and Andrew Hall. They provide insights into consumer behaviour, economic trends, and the potential impact on various sectors in the coming months. With inflation cooling, Black Friday shopping proved to be better than feared this year, but many consumers were disappointed with the magnitude of the discounts. So what does this mean for the consumer discretionary and staples sectors as we head into the new year, and how might it affect your portfolio positioning? Brendan highlights that e-commerce was a clear Black Friday winner, showing significant growth. He explains the impact of over-inventory through the year that might have led to the weaker than expected Black Friday discounts. Andrew moves the discussion to the grocers' sector, noting that food prices remain high, and there are still concerns around inflation in 2024. The conversation also touches on trade-down trends, potential government interventions, and the economic outlook for 2024. They also delve into specific industries, such as the telecom and auto sector, discussing potential challenges and opportunities.

Recorded on December 5, 2023.

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