CBX Daily 2/29/2024

Author

Claire Moraa
February 29, 2024

Today Black American’s pursuit of equity in homeownership could be a distant dream, but let’s start with how tweens could be the new revenue machine in the beauty scene…

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Are Tweens' Wallets The Secret To LVMH's Sephora Revenue Surge?

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Louis Vuitton Moët Hennessy (LVMH +2.01%), is known for their high quality, exclusivity, craftsmanship, and prestigious brand image. This exclusivity has traditionally made them accessible only to a wealthy elite. However, more recently, LVMH has expanded its product offerings to include items specifically designed for tweens. These products allow tweens to experience the luxury lifestyle associated with LVMH brands in a more accessible and age-appropriate way. This in turn has seen their revenue growth up by 10% in the last year.

Black Americans' Quest For Homeownership Equity

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While Black individuals constitute an average of 14% of the population in the nation's largest 50 cities, their homeownership rate stands at 10.15% in these areas. This roughly translates to heavy rental burdens for more than half of the Black residents. Black Americans homeownership has been on a declining trajectory compared to their White counterparts. This gap is so wide it could take centuries to close; in fact, 320 years is presumed.

Why Are Millennials Replacing The Money Phone With Mobile Payments?

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The money phone is soon to be a relic of the past as more millennials look to their smartphones as the primary means of making financial transactions. Peer-to-Peer (P2P) mobile payments have been dominating the U.S. mobile payment market with transaction value expected to reach $18.8 trillion by 2030. With Pew Trusts finding that 14% of Black people made a mobile payment, what are banks and financial technology companies going to have to do to respond to the needs of this coveted group of consumers?

Climate Change's Fury: A Peek Into Black America's Struggle

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The severity of the economic impact that Black folks are experiencing due to climate change cannot be hidden anymore. A report published by the McKinsey Institute for Black Economic Mobility stated that Black Americans are disproportionately exposed to environmental health risks. Black people are roughly 75% more likely to reside in neighborhoods near high-emission or toxic industrial processes. This subjects them to air pollution levels that surpass equitable standards by at least 56%.

Could Artificial Intelligence Fuel Racial Bias In Law Enforcement?

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In a disconcerting revelation, every individual erroneously apprehended due to the application of artificial intelligence (AI) facial recognition technology has been of African American descent. Police are increasingly using AI, but the technology is flawed and heavily biased towards people of color, according to a study by criminal justice experts. All of this is happening while the AI market is expected to hit around $2.57 billion by 2032, and big tech continues to warn of its dangers.

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"Let’s Go!“ The tweens are fueling LVMH’s revenue with their wallet power. Get into it with Key Glock in our CBX Vibes!