Saturday, January 20, 2018

Affordable Luxury

I have always been interested in consumer products, and especially the middle market of affordable luxury. Things that are special, but that don't have the prohibitive cost structure of "true" luxury. Wine is a category that spans many price points (e.g., the bottles of Andre my roommate and I would buy in college to the Rothschild wine that discussed last class), but in nearly every scenario that it is consumed, it is a luxury of the moment. It's generally not a drink people consume out of necessity or for the health benefits, but because there's enjoyment in it. It's not only a product, but an experience.

I am excited to learn about the history of the industry, how labels get consumers to increase their purchases (e.g., either with increased quantity or buying a higher price point bottle), and generally how the industry things about selling to consumers who are largely uneducated about the differentiation in products. 

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