The US consumer spending sector remains strong despite the coronavirus pandemic, and that’s good news for investors looking to get into the market. With the stock market reaching new highs, savvy investors are no doubt keeping an eye out for stocks that could benefit from the strong consumer spending. Here are three stocks we think are worth adding to your watchlist.
First up, Walmart Inc. (WMT). The world’s largest retailer is one of the best-positioned companies in the US consumer spending sector, with its unique combination of low prices, convenience, and selection. It offers both a broad selection of physical and digital products, a competitive digital infrastructure, and a massive brick-and-mortar presence. That gives it a major advantage in meeting consumer demands in a post-pandemic world.
Next, CVS Health (CVS). As one of the largest and most wide-reaching pharmacy chains in the United States, CVS has an immense foothold in the consumer spending sector. Customers can access a range of products and services from the chain, and the company recently launched a number of initiatives to ensure customers are connected with the health care coverage they need. With a strong digital presence, CVS is well-positioned to take advantage of the strong consumer spending market.
Finally, Amazon.com (AMZN). The e-commerce juggernaut has been at the center of the consumer spending sector for some time, and its reach is only growing. The company offers customers a range of products and services, from electronics to grocery delivery to streaming video. With a robust Prime membership program, Amazon is capitalizing on the trend of convenience shopping and is positioned to benefit immensely from a strong consumer spending market.
These three stocks could all have great potential in a market that shows continued strength for consumer spending. With their unique advantages and offerings, they are certainly worth adding to your watchlist.