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Quarter-End Insights

Our Outlook for Consumer Defensive Stocks

While emerging markets remain a key growth driver, we're noticing a growing dichotomy among consumer defensive firms with regard to pricing and profitability.

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  • Emerging-markets hype appears likely to persist over the near term, but competition is mounting.
  • Consumer product firms put cash to use for emerging-markets land grab.
  • While further price increases from sin stocks could prop up margins, packaged food firms may be more challenged, as low- to middle-income consumers prove they aren't afraid to hunt for value.


Erin Lash has a position in the following securities mentioned above: NVS, PM. Find out about Morningstar’s editorial policies.