It’s only February, yet consumers are already planning for warmer weather, summer travel, and time outdoors. Categories are growing but several iconic brands are losing millions of users anyway. That contradiction is the warning. This month’s Growth Watchlist reveals why decline isn’t about demand disappearing, but confidence eroding, relevance drifting, and friction going unresolved, before sales ever show it.

U.S. outbound travel is accelerating yet several major destinations are losing travelers anyway. This month’s supplement to the monthly Growth Watchlist reveals why decline isn’t driven by demand, but by eroding confidence, clarity, and relevance. With China down 67% and others following, the warning is clear: when the category is healthy and your brand is shrinking, the problem isn’t macro. It’s internal.