3 Consumer Stocks to Buy for 2024

Investors may feel uncertain about the economy, but that has not stopped consumer spending from growing. According to the Bureau of Economic Analysis, consumer spending continues to trend higher, rising 0.2% in October.

While that growth is positive, it is slower than the 0.7% and 0.4% rates reported in September and August, respectively. Such data may inspire investors to seek companies that can draw customers in nearly any economy, a level of uncertainty that could bode well for Amazon (NASDAQ: AMZN), Tractor Supply (NASDAQ: TSCO), and Chipotle Mexican Grill (NYSE: CMG).

Neither of Amazon's main businesses escaped the 2022 bear market. As consumers returned to offline shopping options, its two e-commerce divisions began reporting operating losses. Then, a slowdown in cloud growth took the growth rate of Amazon Web Services (AWS) from nearly 30% to around 12%.

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Source Fool.com