Perspective: High drink prices are a result of not just ingredients, but also talent and the search for experiences you can’t get at home, Tom Sietsema writes.
, I took the plunge and ordered the novelty. Moments later, an attendant was at my table with a slender glass cloche, filled with smoke. The fog — fragrant from singed cardamom, cinnamon and hickory — cleared once the cover was removed, bringing the four-ounce amber drink, chilled with a pristine chunk of ice, into focus.. Put off by the price? You’re preaching to the choir.
The restaurant sells two or three of the designer drinks a week. “People do it to show off,” the Ethiopian native says of the liquid gold, promoted between a selection of $25 cocktails and $17 spirit-free drinks onZ. John Zhang, a professor of marketing at the Wharton School of the University of Pennsylvania, says the practice is an example of “decoy pricing.
Trend tracker Melanie Zanoza Bartelme says Kingbird’s $50 Manhattan represents a “treat-yourself mentality” initiated by the pandemic. People want something they can’t get at home, even if it’s expensive, and are willing to trade down in other parts of their life to balance that, says the associate director and global food analyst at the market research group Mintel.
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