The hot word for CEOs on earnings calls is ‘choiceful’

Key Points

• Usage of “Choiceful” by CEOs: The article highlights the increasing usage of the term “choiceful” by CEOs in 2023, with notable mentions from Walmart’s Doug McMillon, McDonald’s Chris Kempczinski, and Starbucks’ Laxman Narasimhan. The term is used to describe the average consumer and articulate strategies related to pricing and expenses.
• Growing Trend in 2023: The term “choiceful” has seen a significant uptick in usage during 2023, appearing 15 times in S&P 500 earnings calls, nearly double the mentions from the previous year. CEOs find it a useful adjective to navigate discussions around the current economic conditions and to assure investors of their ability to manage business challenges effectively.
• Reflecting Changes in Consumer Behavior: CEOs use “choiceful” to describe consumers adapting their spending behavior in response to economic shifts, particularly inflation. The term is employed to convey the idea that consumers are becoming more selective in their purchases, focusing on essential and timeless items. The change in shopping habits has implications for companies, prompting executives to emphasize thoughtful strategies to address evolving consumer preferences.