Richard Shotton
speaker
1,228 appearances
5 recordings
4 series
first heard Jan 2026
last heard 27 Jun
Richard Shotton’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 5 in all, peaking in Jun 2026 with 3.
Appearances
But if you want long-term value creation, you want to be taking this product away before people have sated themselves.
That thing has been out since the summertime.
Well, you could argue they are falling for the mistake that for 20 years they've been avoiding.
If they get greedy and if they keep on increasing the length it's on sale, there will be problems.
They will undermine their cash cow.
So nostalgia is something that far more businesses could apply.
There's less research on nostalgia than there is around principles like scarcity or the gold dilution effect.
But one of the academics that worked in this area is someone called Janine Lasalita.
So she's at the Grenoble School of Management.
And in 2004, she gets people and she shows them this booklet with various different products in.
And for one of the ads, she varies the copy.
So sometimes it says to people, it's a Kodak ad, you know, remember a special moment in your past.
Other people see the same booklet, but it says, you know, think about a special moment that's about to come.
And what La Salita finds is that if you get people to think about the past, you get people to think about a special moment long ago, they are far less price sensitive than if they're just thinking about any old special moment.
And Latalita's argument is that there are two broad ways for people to think.
They can think about money or they can think about social connection.
And she says when you start getting people to think about their past, especially their childhood, it gets them thinking more and more about social connection.
And the impact and importance of money doesn't quite disappear, but it's attenuated, decreases, and therefore they become less price sensitive.
Creating this kind of mix of...
nostalgic childhood holiday linked food flavors is a very sensible tactic from Starbucks perspective.
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