At the start of the year, we surveyed attendees at the 2026 ICR Conference—operating executives, investors, analysts, and advisors — on where they stood on issues shaping the consumer sector: market direction, AI adoption and ROI, deal and IPO activity, and the risks and opportunities others may be underestimating. The result is a directional snapshot of sentiment across the market: where stakeholders may be aligned, where they may diverge, and what those potential gaps may mean for valuation, capital deployment and strategy in the months ahead.
These are the senior decision makers shaping decisions in real time. We are sharing this data on their perspective because, while the sample size is limited, the audience is not. Their views offer a useful directional lens into how 2026 may unfold.
What the data suggests:
- Market Outlook: Optimism leads, but with nearly one-third of respondents bearish, sentiment is far from unified—especially with investors split and management more cautious.
- Deal Activity Expectations: Deal volume is a rare point of consensus, with approximately 90% expecting an increase — even among bearish respondents.
- IPO Activity Expectations: Confidence in a 2026 IPO rebound is broad-based, with respondents largely aligned on increased activity.
- Investor Blind Spots: Data stands out as the most cited blind spot — especially among operators. Beyond that, views diverge: operators emphasize processes and capital, while investors focus on disruption and scaled AI deployment.
- Company Leader Blind Spots: Investors see pressure from competition, margins and supply chains as underappreciated, while operators emphasize the difficulty and cost of transformation.
- AI Adoption Mindset: Operators are looking for earlier ROI than investors expect, revealing a growing disconnect between execution on the ground and investor perception of AI value.
- Stakeholder Focal Points: Across groups, the common thread is the accelerating pace of change—across policy, consumers and the workforce—outstripping current readiness.
Taken together, these data points paint a market picture that is directionally constructive but far from settled. Alignment exists at the headline level, but meaningful disconnects may remain underneath, particularly around AI, capital deployment and what actually drives value.
That tension is where strategy matters most. Our teams continue to monitor developments and trends in the sector.
Download the full report to explore the data in detail, including where stakeholder views converge, where they diverge, and what it may signal for the consumer sector in 2026.
