Walmart Inc. (NYSE:WMT) indicates that there has been a decrease in shopping demand due to the use of appetite-suppressing medications such as Ozempic and Wegovy.
According to a report by Bloomberg, Walmart, based in Bentonville, Arkansas, is analyzing changes in sales trends using anonymized shopper data. The retailer can evaluate purchase changes amongst individuals using the drug and contrast those habits with similar people not using the medication.
John Furner, the CEO of Walmart's U.S. operations, confirmed in a recent interview that the company has observed a “slight pullback” in the overall shopping basket of customers using these medications.
Ozempic and its sister drug Wegovy are manufactured by Novo Nordisk A/S (NYSE:NVO). They are becoming popular ‘miracle’ drugs for weight loss globally, endorsed by many celebrities.
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