What does a world of shrinking scarcity mean for the future of status and high-end shopping among the superrich?

Sometimes the value of an item is tied to the item itself: the rarity of the gems, the uniqueness of the silk. But sometimes the value of an item comes from the circumstances around its creation and/or acquisition: from the story that surrounds the object or experience.

Luxury is rooted in rarity. As "luxury" goods become mass products, people are turning towards unique, non-reproducable experiences to fulfill a desire for the rare.

Conviviality takes multiple forms and expressions when people come together. As a creator of conviviality it is crucial for Pernod Ricard to remain a relevant and key enabler of these convivial moments.

Conventional wisdom on marketing preaches clear, simple messaging that is directed at a large audience and is accessible to as many people as possible. However, if you want to position a product as premium, you need to use more complex messaging that will demand more of the consumer.

Authenticity has always been an important criterion for premium products.  Naturally you would put a higher value on Parmesan cheese made in Parma than if it was made in Detroit.