European Consumer Staples and Retail Conference Key Takeaways

This report summarizes key findings from the Goldman Sachs European Consumer Staples and Retail Conference, highlighting a K-shaped consumer recovery and the role of AI in marketing.

Key Takeaways

• 1.Developed markets are experiencing a K-shaped economy where premiumisation persists among high-income consumers while lower-income households shift toward value and frozen foods.
• 2.Emerging markets performance is bifurcated; China is showing signs of stabilization in beer and fragrances, while Latin American performance varies significantly by country.
• 3.Input cost inflation and supply chains remain a focus, with 2026 COGS visibility supported by hedging, though 2027 carries more uncertainty regarding aluminum and energy-related costs.

Table of Contents

• K-shaped economy in developed markets
• Emerging markets trends are mixed across companies and markets
• Input cost pressures remain a key focus but with more uncertainty in 2027
• Companies highlighted AI offers the most opportunity in marketing investments
• Disclosure Appendix
• Reg AC
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Regulatory disclosures
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

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