What’s In This Issue?
Volkswagen's Best Selling Product Isn't a Car, It's a Sausage
The VW currywurst sausage and sauce at VW factories across Germany where more than 2.5 million were eaten in the past year. The sausages have become so popular that over 8 million are sold at local retailers and grocery stores as well, making them easily VW's best selling product. But just in case you think there's no brand connection at all, a manager interviewed for this story suggests there is because clearly sausages are "a dish for ordinary Germans, just like the VW was meant for ordinary people." Ok, you have to admit that rationalization is pretty creative.
France Bans The Dirty Little Secret of Luxury Brands
it is a little known fact that more than $730 million of returns and unsold inventory are thrown away or destroyed every year. Some brands have been voluntarily shifting away from the practice but now there is a new law officially passed by the French Senate that would ban the destruction of unsold non-food items, including luxury goods and cosmetics. Could this lead to the birth of a new industry of "rebranders"? I imagine there will be a market emerge to take products that were previously branded for a luxury retailer and "rebrand" them to preserve the luxury brand's equity.
Happy 40th Birthday to the Underappreciated Barcode!
Most of us don't think about just how transformational the invention of the barcode actually was. I remember reading the story of its creation in Tim Harford's book "Fifty Inventions That Shaped The Modern Economy," a few years ago. The barcode let products be scanned and finally let stores simply change the price on the shelf instead of restickering every product. Most importantly, it required competitors in the industry to choose to work together - which is probably the biggest lesson the underappreciated barcode has to offer us.
You Might Be A Rich Asshole. Here's Why ...
Why are rich people so mean? That's the provocative question this article from author Christopher Ryan raises in relation to his latest book about the societal price we may be paying for our progress. It turns out that it might be the wealth differential that is causing all the angst, as people who are "medium rich" constantly feel inadequate compared to those who have more than them. Sound far fetched? Read the article and then see what you think.
