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The Hustle Daily Show
Will ‘premiumization’ disrupt the economy?
Mar 7, 2023
Exploring 'premiumization' in the market as companies sell pricier goods to select customers. Updates on Google's office policies and TikTok's 'Project Clover'. Economic trends like job cuts and luxury product strategies by Disney and Krispy Kreme discussed.
13:12
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Quick takeaways
- Premiumization in the economy targets higher-income clients, limiting product variety for average consumers.
- Companies balancing luxury and affordability face challenges in maintaining accessibility after establishing as premium providers.
Deep dives
The Impact of Premiumization on the Economy
Premiumization in the economy involves companies focusing on selling higher-priced goods to fewer customers to maintain or increase profits. This trend is akin to gentrification, where luxury versions of products are emphasized and sold at elevated prices. Examples include Rolls-Royce cars and WD-40 offering a pricier version with a smart straw. However, this approach can limit product availability for middle or lower-class consumers, potentially exacerbating inflation.
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