CBX Daily 3/1/2024

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CultureBanx Team
March 01, 2024

Today Tweens are taking Sephora to new financial heights, but let’s start with how anti-obesity drugs are gaining ground as healthier lifestyles take flight…

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Anti-Obesity Drugs Continue Gaining Traction In A $44 Billion Market

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Obesity stands as a significant public health issue in the United States, disproportionately affecting racial and ethnic minority communities. Approximately 71 million adults in the U.S., or one-third of the total adult population, were classified as obese. Particularly, the Black community bears the brunt of this health crisis as 49% of adults in this demographic qualify as obese. Over time, pharmaceutical companies have developed anti-obesity drugs, offering a glimmer of hope in a market that’s expected to reach $44 billion by 2030.

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%.

Vibes of the Week

Embracing "Beautiful Things“ and bodies while kicking off obesity. Benson Boone thinks so in our CBX Vibes!