Global Consumer and Retail Conference 2026 — Day 2 Takeaways

Day 2 of Goldman Sachs' 33rd Annual Global Consumer and Retail Conference echoed the common refrain from Day 1 around consumer resilience balanced by heightened discernment. Following two years of mounting cost pressures, companies are addressing building uncertainty head-on, courting revenue through value-add growth initiatives and actively protecting margins. Presenters consistently described demand as stable through the summer and back-to-school season, with several noting no material change in consumer behavior, while others pointed to wallet-share shifts (particularly toward travel). Lower-income consumers are adopting cautious, intentional spending habits, seeking value, staying closer to home, using smaller baskets more frequently, delaying purchases, and trading down to lower-cost alternatives;