Hailey Bieber, YouTube & An Actual Recession Indicator

This week Inside The Collective, we examine the state of beauty M&A and look at what freaked-out consumers are doing with their money.

Welcome to Inside The Collective, a newsletter that invites you into the brains, conversations and ideas of Allison Collins and Jessica Ramírez, friends and cofounders of The Consumer Collective. Here, we share weekly thoughts on consumer sentiment, news, retail, fashion, beauty, business, things we like, things we don’t — and why. We hope it helps you connect the dots across the consumer world.

What we’re watching:

• YouTube (literally). The streamer has maintained the No. 1 spot according to Nielsen for three months in a row, claiming 12.4 percent of audiences’ TV time. Disney is No. 2, Paramount is No. 3. Anecdotally, I get sucked into interior design and architecture videos on YouTube (via Samsung Frame); my husband watches shorts or chess videos (usually on his phone).

• An actual recession indicator: People are saving more money. Slight wage growth led to higher savings contributions in the U.S. in April. They’re also financing their groceries.

• Women buying back their businesses (Taylor Swift, Huda Kattan).

• On June 24, Jess will join Daniel-Yaw Miller and Launchmetrics for a special webinar: How Sportswear Brands Connect With Communities: Leveraging Athletes, Trainers & Creators to Fuel Growth. We hope you’ll tune in. (Allison Collins)

We like: Please Explain by Aria Hughes (Complex)

A few weeks ago, Allison pointed out that I ask a lot of questions. Honestly, I’d never thought of myself that way — but she’s right. That’s why I love Complex’s Please Explain, hosted by editor-in-chief Aria Hughes. It’s a segment where Aria, who I know from my time at WGSN (thank you for editing me!), asks a lot of questions and gets a lot of answers. My favorite part of Please Explain is Aria’s focus on the inspiration and storytelling that really takes viewers into the why behind key cultural and fashion moments. The Joe Fresh and Law Roach episodes have been my favorite so far. (Jessica Ramírez)

We recommend reading:

After School by Casey Lewis. It’s as helpful for people looking to decode youth culture as NYTimes Smarter Living used to be for people looking to decode life.

This story about how people are getting creative to save money on groceries. (NYTimes)

About beauty companies leaning into biomimetics. (WWD)

The Analysis: Is Beauty M&A Back?

The Analysis is available for paid subscribers only. This week, we’re sharing our thoughts on beauty M&A, including e.l.f.’s $1 billion deal for Hailey Bieber’s Rhode, and the state of dealmaking and business in and around the beauty sector. For more information from The Consumer Collective research library, send us a note at info@theconsumercollective.co. We track M&A, distress, growth opportunities, emerging trends & more.