Weight-loss drugs reshape spending as 1 in 10 Americans take GLP-1s (opens the source in a new tab)
- An FT Big Read finds people on GLP-1 drugs, now about one in 10 Americans, are changing what they eat, buy and do. Gyms are giving more floor space to strength training, and supplement and skincare makers are gaining customers.
- Snacks, fast food and plus-size clothing are losing out: Macy's calls its plus-size business very soft, and brands are pushing smaller, pricier, protein-rich portions.
- More than 200 listed companies outside healthcare discussed the drugs on earnings calls last quarter. Pills and cheaper generics after patents lapse in the early 2030s could widen use.
- 1 in 10
- Americans taking GLP-1s
- 200+
- non-health firms citing them on earnings calls
Why it matters The drugs undercut the volume model behind packaged food and fast food: sell more for less. Consumer investors may need to sort brands by whether they can win on quality and price rather than quantity.
Other side Drinking and nights out have barely dipped, so the hit is narrower than feared. Some users regain weight or stop, and so far the clearest effects come from early, wealthier adopters, which may not hold as use widens.