George Parker: Let Them Eat Cake
George Parker is the perpetrator of adscam.typepad.com. Every week he shares his opinions on the advertising world with PSFK.
For a long time one of the long established rules of marketing and sales, was that the higher you went up the food chain in the luxury goods business, the less brands were affected by downturns in the economy. The Rolexes, Cartier’s, Tiffany’s and Louis Vuiton’s, plus the retailers selling these brands, such as Saks, Barney’s and all the other places where people with more money than brains love to blow dumpster loads of cash, would be able to ride out recessions easier than those manufacturers and retailers catering to the unwashed masses.