How today’s consumers are spending their time and money

This McKinsey on Consumer and Retail podcast episode features excerpts from a webinar with Christina Adams and Carrie Eldridge, leaders of ConsumerWise at McKinsey, discussing highlights from their "State of the Consumer 2025" report. The discussion revolves around five key trends: consumers spending more time alone and online, the paradox of social media being a primary source of information yet the least trusted, the growing influence and spending habits of Gen Z, the increasing importance of buying local, and the evolving value equation where consumers trade down in some categories to splurge in others. The speakers emphasize the need for companies to have a 360-degree view of the consumer, employ nuanced revenue growth management strategies, and adapt their portfolios and technology to meet changing consumer behaviors and preferences.