The Impact of Premiumization on the Economy and Consumers

Gentrification can be seen as a metaphor for how companies prod consumers towards fancier and pricier versions of their products./nThis premiumization caters to higher income consumers and leaves poorer people underserved./nCorporate executives refer to this phenomenon as premiumization./nThere are two main drivers behind the premiumization trend./nPremiumization is a popular buzzword in corporate discussions and earnings calls./nPremiumization involves increasing the value of a product to consumers beyond its cost by adding new features and desirable branding.