Walmart Reports 'Slight Pullback' In Food Demand As 'Miracle' Weight-Loss Drug Ozempic Gains Popularity

Walmart Inc. 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 NVO. They are becoming popular ‘miracle’ drugs for weight loss globally, endorsed by many celebrities.

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Furner mentioned it is too early to make any definitive conclusions about these appetite-suppressing medications,

Increasingly, CEOs and investors are discussing how these popular weight-loss drugs could affect the economy and business. Recently, Pringles and Cheez-Its’ CEO said the company is studying their potential impact on dietary behaviors.

Walmart sells GLP-1 drugs, a category that includes Ozempic, in its pharmacies. In August, the company reported that these drugs contributed to increased revenue. A recent Trilliant Health report indicates that US sales for these medicines escalated 300% between 2020 and 2022.

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Walmart Photo by Sundry Photography on Shutterstock