CBX Daily 10/31/2024

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CultureBanx Team
October 31, 2024

Today, banks are aligning with client selection, but let’s start with how Halloween spending is hitting peak projection…

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Trick Or Treat With Halloween Spending Set To Hit $11.6 Billion

CBX Vibe

As the spookiest time of the year rolls around, a record-breaking celebratory spirit is taking hold nationwide. Americans are set to invest a staggering $11.6 billion on Halloween festivities this year, a bit of a dip from last year's $12.2 billion, according to recent projections from the National Retail Federation (NRF). A whopping 73% of Americans plan to hand out candy, ensuring that the tradition of trick-or-treating remains alive and well.

Banks Take A Backseat As Clients Are Now Calling The Shots

CBX Vibe:

Long data transfer processes when switching from one bank to another will no longer be the order of the day. Now, you can close one account in one bank and open another one in the same day with all your banking history transferred. With open banking now available in the U.S. you have the power to hire and fire your bank if they're not meeting your expectations. And with 58% of people in the U.S. showing dissatisfaction with their financial institutions, this could be a wake up call.

Why More Cocoa Production Won’t Sweeten Chocolate Prices This Halloween

CBX Vibe:

The world’s appetite for chocolate remains insatiable, yet as West Africa increases cocoa production, consumers are unlikely to see a break in chocolate prices. Despite projections of West African cocoa farmers boosting production, prices per metric ton are expected to rise to $10,000 , driven by several complex factors that combine both business dynamics and cultural shifts.

Tune-in Tuesdays!

Migrants have been fueling the U.S. job surge and contributed to the growing GDP. However, the elections could potentially affect their standing in the economy positively or negatively. What are your thoughts on this?

A. "We Take Care of Our Own" by Bruce Springsteen - Migrants contribute to the fabric of society and the economy, fueling job growth and innovation so whoever is president can’t afford to fumble them.
B. "Survivor" by Destiny's Child - Migrants are resilient in the face of adversity and will continue to thrive regardless of the circumstances.
C. "Getaway Car” by Taylor Swift - It’s every man for himself and whoever claims the seat has the power to empower or imperil the migrants.

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

A  |  B  |  C

Login or Subscribe to participate in polls.

Last week’s results are in and it looks like we’re all feeling that our ‘Privacy’ is at stake and slowly slipping from our hands.

2025 MET Gala's Economic Impact From Black Dandyism

CBX Vibe:

The 2025 MET Gala's theme, "Superfine: Tailoring Black Style," inspired by Monica L. Miller’s groundbreaking book, Slaves to Fashion: Black Dandyism and the Styling of Black Diasporic Identity, marks a pivotal moment for Black fashion, especially Black menswear. Dandyism is "a literary and artistic style of the latter part of the 19th century marked by artificiality and excessive refinement." This celebration of Black dandyism showcases the artistry and tenacity Black men displayed through style during the 18th and 19th centuries.

Is HBCU Tuition Insurance Worth It For Students?

CBX Vibe:

College tends to be one of the biggest financial commitments people make and now companies are offering ways to lessen the burden through tuition insurance. On average, tuition insurance costs roughly 1% of your total tuition costs, according to the National Association of Insurance Commissioners. Given the graduation rates at historically Black colleges and universities (HBCU), is this a smart move to protect your money?

Vibes of the Week

Halloween sales hit "New Drop" as Don Toliver tells it in our CBX Vibes!