🎨 Life in color
Life is like a box of Crayolas, and for 121 years,* the company goes “Fluorescent Green” during back-to-school season, this year making 13 million crayons every day from July to September – an 8% jump from its usual production.
While Crayola now offers 148 unique crayon colors,* there are several shades the company has retired.* Most recently, Dandelion was discontinued in 2017* after a farewell tour that included a special box set consisting only of the gold hue (which now sells on eBay for up to $200).
Some Americans are coloring outside the lines when thinking about their own golden years: Empower research shows over half (58%) of Americans (64% of Baby Boomers and Gen Xers) say they may be in the job market post-retirement and are open to working indefinitely.
— The Editors
🎃 Orange pumpkin payout: American consumers spend about $500 million each year on pumpkin-related items and are willing to pay 14.1% more for the autumn-themed version of coffee, snacks, and even dog treats. One lucky enthusiast will be able to turn their pumpkin passions into a $1,000* paying gig this year to taste-test and review Trader Joe’s fall food items.
🦉 Green owl gain$: Coming off a hot streak of profitability for five consecutive quarters,* Duolingo’s language-learning app is now a $7.7 billion* company. In the second quarter of 2024, paying subscribers grew 52% to 8 million, and while the app offers lessons for free, Duolingo brings in $500 million each year. The company’s new office in New York City is providing a colorful working space for its 200+ office-based employees:* The downtown site features a cafeteria that resembles a diner, and a sculpture of the brand’s green owl mascot.
🧀 Slices of cheddar: While 87% of shoppers are "fed up" with rising prices of groceries and household items, that’s not stopping them from saying “cheese” at record-breaking levels. The average American consumes about 42 pounds* of cheese on an annual basis, more than double the volume in 1975. That’s more than other dairy delicacies – ice cream, yogurt, and butter – combined. This may be due to the price of cheese rising more slowly than other dairy items. Cheese-based snacks are estimated to bring in $75 billion a year globally.
🧱 Quicksilver building blocks: Toymaker LEGO saw its revenue increase by 13%* in the first six months of the year, thanks to its diversified product portfolio and partnership with Epic Games’ Fortnite. The brand recently partnered with McLaren to construct a life-size P1 race car out of more than 342,800 LEGO bricks.* Consumers can purchase a buildable toy version of the yellow supercar for around $450, which is the average monthly car payment (for IRL cars) for Americans.
Gold standard for time off
Many American workers view paid time off as an employee benefit “worth its weight in gold” – more than 2 in 5 (43%) say that all companies should offer unlimited PTO, according to Empower research. Over a quarter (26%) would consider a lower-paying job if it offered unlimited PTO, while nearly 1 in 5 employees say they wouldn’t accept a new job without it.
Despite the benefit’s popularity, a third (35%) feel anxious requesting time off. Nearly half of full-time employees (49%) check their work emails while on PTO, and 42% answer them.
For 85%, using PTO to travel boosts their happiness, and a third of workers have long-term goals on their mind: 32% use their time off to visit places they may want to retire.
Purple dinosaur to purple blushes
Actress, singer, and entrepreneur Selena Gomez has had a colorful career so far (starting out on “Barney & Friends,” famous for its namesake purple dinosaur) – and is now estimated to be worth $1.3 billion.* She joins the 800+ billionaires in the U.S. who are collectively worth approximately $6 trillion.
Rare Beauty, which Gomez founded in 2020, has a valuation of $2 billion, and one popular blush product alone yielded $70 million in sales in 2022.* Her stake in the cosmetics company contributes to more than 80% of her net worth, while her music and acting endeavors account for less than 10%.
Add a little sparkle: See how your net worth stacks up against other Americans your age.
✨ A radiant return: After being discontinued in 2017 following a three-decade run,* the popular J.Crew catalog, filled with pages of colorful fashion and vivid photoshoots, recently made a comeback. The store’s revenue is also on the rise: J.Crew is on track to achieve a record $3 billion in sales this year. Americans’ monthly spending on clothing has increased by 72% since before the pandemic.
The colors of fall
The autumn leaves are changing from green to vibrant hues of yellows, oranges, and reds: While a majority of Americans travel during the summer (61%), others have their sights set on destinations where you can appreciate the fall foliage – bringing in $30 billion* in “leaf-peeping” tourism to local economies in 24 eastern states.
In Vermont, most hotels are at or over 90% capacity* during this time, accounting for 10%* of the state’s annual visitor traffic and revenue. Massachusetts saw 2.5 million visitors who spent nearly $3.5 billion* to see the state’s colorful trees.
Those planning to take a fall road trip soon may feel relief at the pump. Gas prices in the U.S. are at an average of $3.31 a gallon* – down half a dollar from this time a year ago – and dozens of states may see prices lower than $3 by Thanksgiving.
Get financially happy.
Put your money to work for life and play.
*Third-party data is obtained from sources believed to be reliable; however, Empower cannot guarantee the accuracy, timeliness, completeness, or fitness of this data for any particular purpose. Third-party links are provided solely as a convenience and do not imply an affiliation, endorsement, responsibility, or approval by Empower of the contents on such third-party websites.
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The content contained in this blog post is intended for general informational purposes only and is not meant to constitute legal, tax, accounting or investment advice. You should consult a qualified legal or tax professional regarding your specific situation. No part of this blog, nor the links contained therein is a solicitation or offer to sell securities. Compensation for freelance contributions not to exceed $1,250. Third-party data is obtained from sources believed to be reliable; however, Empower cannot guarantee the accuracy, timeliness, completeness or fitness of this data for any particular purpose. Third-party links are provided solely as a convenience and do not imply an affiliation, endorsement or approval by Empower of the contents on such third-party websites.
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