No more smoking lounges and things of that nature
To view or add a comment, sign in The Economist talks about why American tobacco stocks have outperformed tech in recent years and textbook example of "price-inelastic" buyers: Over the past decade, the # of US smokers has declined by 20m (and cigarettes sold is down by 1/3rd) So, cigarette firms have charged more to their most committed smokers (operating margins grown from 50% to 60%) In 2025, cigarette makers in the US will make operating profit of $22B While the industry goes away, only the most addicted smokers are left
Airport duty-free shops, hotel minibars, supermarkets, small groceries (baqalas), and online delivery stores can all quote different prices for the exact same pack
Queen's first international hit, "Killer Queen", began with the line "she keeps Mot et Chandon in her pretty cabinet", which wasn't so much conscious product placement as much as it was simply a way of depicting the fictional posh woman whom the song is about
