CBX Daily 2/2/2024

Author

CultureBanx Team
February 02, 2024

Today the latest powerhouse in the stock market are blacks and they’re stacking, but let’s start with how you need to rethink your investment when it comes to dieting…

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Is It Time To Stop Giving Your Coins To The $295 Billion Diet Industry?

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We live in obese world where diets have become trendy, they’re promoted everywhere, plastered right in your face. This industry of weight loss and weight management diet sector is expected to garner $295.3 billion by 2027, with people like you shelling out major coins to drop a few pounds. Is eating healthy and subscribing to the diet lifestyle really worth it for your bank account and scale?

Black Investors Are The Newest Heavyweights In The Stock Market

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Historical and systemic barriers might contribute to differences in access to traditional financial resources but blacks are changing this narrative by using the available resources for their development. A recent study found that over 50% of black investors showed a higher inclination to utilize social media groups or message boards for obtaining investment information, whereas only 25% of white investors exhibited a similar preference. These tools make researching, critically assessing, and buying shares easier. 

Dry January’s Silver Lining For The Alcohol Industry

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Every New Year, millions of people around the world embark on a month-long journey of self-improvement. One of the most popular initiatives is ‘Dry January’, a trend that encourages participants to abstain from alcohol for the entire month. After all, a significant portion of alcohol companies' consumer base abstaining from alcohol for an entire month could potentially lead to a significant dip in sales. While Dry January might seem like a sobering time for the alcohol industry, it's far from a financial dry spell. 

The Spotify Effect On Afrobeats' Global Rise To Prominence

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Spotify's (SPOT +0.05%) strategic foray into Nigeria and subsequent support of the Afrobeats genre has significantly impacted its global perception and reach. Afrobeats has emerged as a dynamic and distinct genre that represents African creativity and talent on a global scale. Even though Spotify officially entered the African market in 2021, it's already a genre to watch out for. In 2022, Nigerian artistes collectively earned a substantial $14 billion solely from Spotify's revenue.

Dip Into The $300 Billion Black American Consumerism Bag

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At 47.8 million strong, African Americans are the second-largest consumer group, presenting businesses with a $300 billion opportunity stake in this community. Despite being 13.4% of the U.S. population, Black households accounted for just under 10% of the nation’s total spending on goods and services in, according to McKinsey. However, if companies interpret this data as proof that there’s little profit in serving Black consumers, they are making a multi-billion mistake.

Vibes of the Week

Will you be able to “Say Cheese” when posing for pictures if you skip dieting? Paul Russell encourages you to reconsider in our CBX Vibes!