REUTERS NEXT-CEOs see younger consumers driving growth amid tariffs, AI changes
CEOs at the Reuters NEXT conference highlighted that younger consumers are driving growth in consumer products despite tariffs and economic challenges. Warby Parker expects increased profitability by 2025, while Tapestry sees growth across income segments and in China's middle class. The Honest Company is tackling tariffs without extreme pricing. AI is enhancing efficiencies and margins.
By Susan Heavey and Jessica DiNapoli
NEW YORK, Dec 4 (Reuters) - Younger consumers are helping to drive growth in some consumer products despite higher prices from tariffs and other economic headwinds, while artificial intelligence boosts efficiencies and margins, several CEOs told Reuters on Thursday.
Speaking at the Reuters NEXT conference in New York, Warby Parker (WRBY.N) Co-Chief Executive Officer Neil Blumenthal said he expected the eyewear company to end 2025 more profitable than expected, while Tapestry (TPR.N) Chief Executive Officer Joanne Crevoiserat said the Coach handbag maker was seeing growth across all income segments and in China’s middle class.
Crevoiserat said that younger consumers are putting off major purchases—like buying a home—but still buying handbags and accessories.
The Honest Company (HNST.O) Chief Executive Officer Carla Vernón said, despite the Trump administration’s tariff policies, it has a “tariff tacklers” team in place aimed at being able to deliver growth without an extreme pricing strategy to help mitigate cost issues. View the live broadcast of the World Stage here and read full coverage here.
