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Phrase: At a premium
The phrase at a premium indicates that something is being sold for a higher price than usual or is in high demand.
When an item is available at a premium, buyers may need to pay more to acquire it due to its perceived scarcity, popularity or quality.
For instance, many products are sold at a premium during the holiday season.
Stores know that people want these items as gifts or to celebrate the season, so they raise the prices.
This situation can also happen with tickets for popular events, like concerts or sports games.
When tickets are limited, they are sold at a premium, making it more expensive for fans to attend.
Although this may seem like price gouging, it is a little different.
In a broader sense, at a premium can refer to anything considered valuable or highly sought after.
Real estate can often be found at a premium in desirable locations.
Many people want to live in the best neighbourhoods, so prices there are frequently at a premium.
It’s also important to note that at a premium can describe a situation in business.
If a company offers a product that is seen as unique or superior, they might sell it at a premium compared to standard alternatives.
This strategy helps attract consumers willing to pay more for higher quality.
The entire luxury industry is built on this premise.
Try to purchase a Hermès Birkin bag, and you’ll see what I mean.
When something is available at a premium, it signifies high demand and often higher costs.
Whether it’s concert tickets, popular products, or real estate, understanding this phrase helps us navigate the marketplace.
Next time you notice something priced at a premium, remember that it reflects its perceived value and rarity in the current market.
Flesch-Kincaid Readability Test
This post is understandable by someone with at least a 9th-grade education (age 15).
On the Flesch-Kincaid reading-ease test, this post scores 59.
The easier a passage is to read, the higher the score on a scale of 0 – 100.
