Topline
Walmart U.S. chief executive John Furner said in an interview with Bloomberg on Wednesday that the company has seen “a slight change” in food purchasing habits of people taking Ozempic and other weight loss drugs compared to people who aren’t—as impacts of the popular medication seep into the corporate world.
The injectable drug Ozempic is shown Saturday, July 1, 2023, in Houston. (AP Photo/David J. Phillip)
Key Facts
Walmart is studying changes in sales patterns by looking at anonymized shopper data and comparing that of people who take a weight loss drug like Ozempic to people who don’t, but Furner said it’s too soon to draw conclusions.
The company is seeing “a slight pullback in overall basket” when looking at the consumer data, though, for people who take Ozempic, Wegovy or other popular weight-loss drugs, Furner told Bloomberg.
Furner said the pullback has been “just less units, slightly less calories,” Bloomberg reported.
Companies like Walmart are working to take stock of shopper trends for people on Ozempic as the weight-loss drug is only expected to continue its rise in popularity: Morgan Stanley is estimating that 24 million people—or 7% of the U.S. population—could be taking GLP-1 drugs by 2035.
In its September report, Morgan Stanley said the popularity of these drugs will likely have a stronger impact on grocery stores, while big box markets like Walmart and Target that sell “many product categories along with food will be better insulated.”
Key Background
Ozempic, Wegovy and other weight loss drugs that have risen in popularity in recent years cause weight loss by reducing people’s appetites. The GLP-1 drugs mimic a hormone that signals to one’s brain that they’re full, according to UC Davis Health. The drug has also decreased some patients’ cravings to eat foods with high sugar or fat content, though, CNBC reported, which could cause problems for some food brands that have decided in recent years to lean into snacking while marketing their food. Food chains and companies producing junk food were predicted to be potential losers of the weight loss drug boom because of the decreased appetite for unhealthy foods, Markets Insider reported last week.
Further Reading
Source: https://www.forbes.com/sites/mollybohannon/2023/10/04/walmart-exec-reportedly-says-ozempic-could-be-impacting-food-sales-slight-pullback-in-overall-basket/