Retail and Consumer Data Built for the Deal Room.

P&G's $3.8 billion acquisition of Thorne is part of a broader rush by large consumer companies toward science-backed wellness, supplements and brands positioned around longevity, functional nutrition and GLP-1-related consumer behavior. Thorne surpassed $500 million in annual revenue in 2025 after previously being taken private by L Catterton for $680 million, while investors increasingly say strong first-party consumer data and direct customer relationships can command a premium. For consumer-company owners and investors, this is a particularly useful valuation signal: strategic buyers appear increasingly willing to pay for businesses positioned around durable behavioral shifts rather than simply broad category growth.

Retailers pulled merchandise forward again this year, producing an unusually early peak import season as companies moved inventory ahead of tariff changes and other supply-chain uncertainty. August imports are forecast at 2.22 million TEU, down 4.2% year over year, with volumes expected to decline through much of the remainder of the year even though retailers are considered well stocked for holiday. For CFOs and operators, the interesting question now moves from availability to working capital: having product early reduces supply risk, but it also increases the importance of inventory turns, demand forecasting, markdown exposure and the cost of carrying goods longer than originally planned.

Wayfair posted its strongest U.S. revenue growth since before COVID, but the more interesting story sits underneath the headline: premium platform Perigold grew more than 35%, while higher-income consumers continue to materially outperform lower-income shoppers. Perigold customers spend nearly three times as much annually as typical Wayfair customers, and Wayfair's physical stores are also attracting a surprisingly high percentage of entirely new customers. What caught our eye is how dramatically consumer bifurcation is affecting strategy — premiumization, physical stores and differentiated brands may be allowing retailers to grow even when the broader category remains challenging.

Consumer sentiment improved sharply in July, rising nearly 10% from June, but remains almost 12% below its level a year ago. Retailers therefore face a consumer who may be feeling somewhat better at the margin without yet feeling genuinely confident—a distinction that argues for continued caution around discretionary demand and second-half forecasts.

E-commerce sales rose 2% in June and now account for 29% of core retail spending, reinforcing that digital share continues to advance even as total spending growth becomes more restrained. At the same time, a historically low personal savings rate raises a larger concern: consumers may eventually have to rebuild household balance sheets by pulling back on discretionary purchases.

Retail growth slowed to 0.2% in June, but sales excluding gas stations increased a much stronger 0.7%, with consumers continuing to spend selectively on autos, online shopping and seasonal categories. The message for retailers is less that the consumer has stopped spending and more that where consumers choose to spend is becoming increasingly discriminating, putting greater pressure on value propositions, assortment and promotional effectiveness.