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INVESTING IN LUXURY AND SPECIALITY RETAIL
5 tips from our partner Joseph Hogue for investing in a consumer spending boom
Heading into November, consumers have amassed $4.5 trillion in spending power. An explosion in global spending could be on its way.
Our partner Joseph Hogue covered a specific sector he’s watching and why! Here are 5️⃣ great tips he shared:
1️⃣ Americans alone saved $3.7 trillion, and nearly ¾ of this is estimated to be from the wealthiest 20%. This was likely due to high-income jobs that were more possible from home. With the spending season approaching, many stocks could see a major boom. 👀
2️⃣ Consumer spending has been on a strong upward trend, jumping to nearly $550 billion! For this reason, Joseph has been looking into the consumer discretionary sector. This built-in spending power will continue to rise as we head into the holiday season.
3️⃣ Joseph’s main target for these shorter-term gains is the high-end of this consumer discretionary spending. These companies aren’t running on thin margins and paying employees the least possible, meaning fewer issues with their workforce/profits. 📈
4️⃣ He used Stock Card to analyze all 3 of his picks, but we’ll only spoil one! Tapestry (#TPR) has been ramping up sales with a 126% growth in revenue YoY. This quarter brought 55% growth, adding over 600k customers in the U.S. alone.
5️⃣ Luxury brands that cater to wealthy customers can raise prices to keep up with inflation, decrease in demand, interest rates, and any other difficulties easier than other consumer discretionary stocks.
Check out his 3 picks!
BONUS PARTNER PORTFOLIO
Stay in the loop with Joseph's top picks on his Stock Card portfolio
💥 Bonus 💥 Joseph Hogue’s personal Bowtie Portfolio is available on Stock Card, and as of today, it’s beating the market by 13.67%! Follow it here to stay updated when he adds new picks.