Why premium brands can thrive in the cost of living crisis
Do tough times become even tougher when your brand commands a premium price? Town Square partner and director, Harry Corsham, explores three economic concepts for premium brand marketers to consider in tough times.
When my girlfriend moved into my flat in London in 1996, we bought a new toaster.
It was a premium, three-slice, steel toaster. It was a status symbol. It cost a small fortune. This morning, one wedding, two international relocations, three children and 26 years later, the same toaster made our breakfast, as it has every day since she moved in.
Over the years, cost per slice, this pricey kitchen appliance has become the best value toaster on the planet (and it has done its duty on three continents). What seemed like an irrational extravagance all those years ago has turned out to be a deeply rational, smart buy.
