Morning Brew Daily Companies push 'premium' products, Amazon HQ2 delay, ChatGPT student survey
Mar 6, 2023
Discover the trend of premiumization as companies focus on attracting affluent consumers with high-end products. Dive into the implications of Amazon's construction halt on its new headquarters and its effect on local economies. Uncover surprising statistics about college students' engagement with ChatGPT, revealing a gap in understanding this AI tool. Plus, explore the rise and fall of HQ Trivia and the shifting landscape of subscription models in the automotive industry, offering a peek into future trends.
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Premiumization
- Companies are focusing on selling premium products to their wealthiest customers to maintain profits.
- This strategy is called premiumization and has been a buzzword in recent earnings calls.
Examples of Premiumization
- Krispy Kreme is shifting from bargain deals to premium specialty donuts.
- WD-40 is adding features like Smart Straw to justify higher prices.
Amazon HQ2 Delay
- Amazon paused construction on part of its HQ2 in Arlington, Virginia, due to cost-cutting measures.
- This decision reflects a broader trend of tech companies reducing office space as remote work continues.