Consumer Conference Feedback and China Consumption Outlook

The report summarizes feedback from Goldman Sachs' European Consumer conference, noting resilient current trading and manageable 2026 costs, but highlights investor skepticism regarding 2027 pricing power.

Key Takeaways

• 1.European Consumer conference attendance grew by 113% YoY, suggesting high investor interest despite low sector sentiment.
• 2.Current trading across staples and beverages remains resilient with no companies 'sounding the alarm' on Q2 trends.
• 3.Most companies are relaxed about COGS for 2026 due to hedging, but 2027 will likely require material price increases to protect earnings.

Table of Contents

• Macro, Strategy and Big Picture Themes
• Luxury, Brands & Sportswear
• Retail & Digital
• Staples
• GS Upcoming Events

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