2022-11-25 13:37:00

My Favorite Consumer Goods Stocks for 2023

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Nasdaq
By The Motley Fool

As we near the end of 2022, it's never too early to begin thinking about which stocks will be great buys heading into 2023. More so than other years, this new year has a lot of uncertainty surrounding it because of the record inflation levels and possible looming recession.

Regardless of what happens in 2023, investors should look into beginning or increasing their stake in these consumer goods stocks. Here are three to consider now.

Walmart

In a year when major indexes and blue-chip stocks have seen their value slashed by double digits, Walmart (NYSE: WMT) has been one of the few non-energy stocks in the green for the year. In the third quarter of this year, the company brought in over $152.8 billion in revenue (up over 8.3% year over year), and sales in the U.S. were up 8.2%.

What makes Walmart a great buy for 2023 is its commitment to providing low prices. As we approach 2023 and a potential recession drives economic anxiety, people will undoubtedly go to where the value is. With inflation hitting levels we haven't seen in decades in 2022, the retail giant said it's seen more higher-earners gravitating toward its products, and this isn't likely to slow down anytime soon.

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