CBX Daily 10/3/2024

Author

Claire Obae
October 03, 2024

Today Gen Z men are embracing grooming, but let’s start with how a decline in the home goods market may be looming…

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Home Goods Sales Plummet Amid Economic Woes

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It may appear that consumers are skeptical about spending on home goods if the last Wayfair (Wayfair Inc. +4.80%) sales are anything to go by. In the period between April and June, the company has made a $42 million loss in sales having laid off about 13% of their workforce at the beginning of the year. This severe downturn can only be likened to the 2008 financial crisis. Not even the pandemic slowed down the home goods market like this so what's happening and why is there such a significant decrease in demand?

Gen Z Men: The Beauty Revolution No One Saw Coming

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Forget everything you thought you knew about beauty rules. Gen Z men are stepping firmly into the spotlight, redefining self-care with an impressive 68% jump in skincare use. Grooming is not a ‘girl-thing’ anymore. This demographic is now driving new beauty standards. And while men are embracing their beauty side and challenging traditional beauty norms, the beauty industry is delaying in tapping into this market.

How Vista Equity's $8.4 Billion Smartsheet Buyout Strengthens Their Market Position

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Smartsheet, the Washington-based work management platform, is being scooped up by private equity giants Vista Equity Partners and Blackstone (BX +0.96%). This $8.4 billion deal is turning heads, not just for its hefty price tag, but for what it means for the future of enterprise software.  

Tune-in Tuesdays!

Reed Hastings, co-founder and executive chairman of Netflix donated $7 million towards Kamala Harris’ campaign. This has prompted #CancelNetflix to trend. Should top stakeholders’ choices reflect the values of the entire network? And in a world where entertainment and politics collide, where do we draw the lines or are they blurred out?

A. “My Life” by Mary J Blige – Should CEOs have the freedom to express their political beliefs without facing backlash?
B. “Crazy” by Kelly Rowland – Is the outrage based on the candidate, or are we just reacting to the chaos of the situation based on our political biases?
C. “American Idiot” by Green Day – It’s a trap that we’re falling into willingly because our preferred candidate didn’t get this opportunity

What are your thoughts on this? Tune in next Tuesday to see which jam captures the prevailing sentiment!

A  |  B  |  C

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Last week’s results are in and it looks like ‘Change Is Gonna Come’ for the Binance executive whose rights are being trampled upon.

Army Seeks Refund As Dwayne Johnson's UFL Deal Falls Flat

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The recent rift between the U.S. Army and the Ultimate Football League (UFL), with Dwayne “The Rock” Johnson in the mix, has brought attention to a troubled business deal involving sports and culture. The Army is aiming to recoup $6 million from an $11 million marketing agreement, pointing to unmet promotional targets as a major concern. The Rock, who was supposed to do five social media posts promoting the UFL, only managed to do two. This shortfall had a direct impact on the Army's ability to meet its recruitment targets, resulting in a loss of 38 potential enlistments—a significant setback given the high stakes.

Checking A.I. Healthcare Pulse In $188 Billion Market

CBX Vibe:

The healthcare industry continues to incorporate artificial intelligence into many of its platforms, and early indicators reveal the technology outperforms and offers more accurate diagnoses than doctors. Healthcare has always struggled with income and race based inequities rooted in various forms of bias. A.I. seems like a sensible investment for the facilitation of most day-to-day healthcare activities, so should minorities approach the subject matter with apprehension?

Vibes of the Week

It’s "Blow for Blow " as inflation slows down home goods purchases according to Tee Grizzley and J. Cole in our CBX Vibes!