Retail footfall softens; consumers still trading down

Value and private-label share continue to climb.

Sources across the consumer space say the near-term focus is shifting from headlines to implementation, with stakeholders tracking timelines, compliance requirements, and second-order effects.

Analysts highlight that the base case remains supportive, but outcomes will depend on execution quality, policy follow-through, and the degree to which market participants can adapt operating models without eroding margins.

Industry participants expect incremental data over the coming weeks—ranging from filings and guidance to tender updates and pricing indicators—to clarify whether current momentum is durable or simply a short-lived stabilization.

For now, the key watchpoints are the next set of disclosures, any regulatory or policy clarifications, and whether comparable peers begin to signal similar trends related to "Retail footfall softens; consumers still trading down".