Morning Business Report: Consumers shift habits as economic and corporate trends reshape the market
(LILAMAX)- Campbell’s is reporting a major shift in consumer behavior, with more people cooking at home than at any point since early 2020, when the COVID-19 pandemic began. The food giant says economic uncertainty—driven in part by President Donald Trump’s tariffs—is weighing on consumer sentiment and prompting more cost-conscious choices at the dinner table. In addition to the home-cooking trend, Campbell’s notes that snack buyers are becoming more selective, increasingly looking for healthier options.
Meanwhile, some major brands are stepping back from public LGBTQ+ Pride campaigns this June. According to a recent survey of corporate executives, about 39% say they’re scaling down their Pride Month marketing efforts. Many cited fear of customer backlash, referencing Bud Light’s controversial partnership with a transgender influencer in 2023.
Despite trade tension worries, Wall Street showed signs of resilience at the start of June. Stocks ticked higher, brushing off early concerns about tariffs. CNBC reports that President Trump and China’s President Xi are expected to speak this week, potentially easing some market anxiety.
In corporate news, Disney is laying off hundreds of workers across departments including marketing, publicity, casting, development, and corporate finance. The entertainment giant is streamlining operations as studios reduce film output in a bid to boost profitability. Theater attendance remains below pre-pandemic levels, while more consumers continue to drop cable TV in favor of streaming platforms.
When it comes to family vacations, kids are stepping into the driver’s seat—literally. A new survey commissioned by Visit Anaheim and conducted by Talker Research found that more than 20% of parents have allowed their school-aged children to plan an entire family trip. The study also revealed that 86% of kids want a bigger role in vacation planning, with 53% saying they’d like to plan as much of the trip as possible.
