The Enduring Allure of Serving the Super-Rich
Let’s be honest, most of us live in a world of discount codes, price comparisons, and two-for-one offers. Companies fight tooth and nail for our business, slashing prices and margins to the bone. It’s a frantic, exhausting race to the bottom. But there is another world, a calmer, more rarefied place where price is almost an afterthought. I’m talking about the economy of the ultra-rich, and for an investor, I think it’s a rather fascinating place to observe.
These companies don’t sell products, not really. They sell access, status, and an almost telepathic level of personal service. Their customers aren’t worried about the next electricity bill, so their spending habits are remarkably resilient, even when the rest of the economy is tightening its belt.