There are multiple reasons for this latest San Francisco craze. “Tip of the hipster spear” is one; the large amount of money floating around Silicon Valley, is another. But, in an interesting article, linked below, the origin of this is traced to a single individual. And in the end, makes a great study on value and pricing.
http://www.psmag.com/…/toast-story-latest-artisanal-food-craze-72676/
Giulietta Carrelli, herself, is part of the story, but that doesn’t explain why the value of toast is so through-the-roof beyond her store — or in New York and Detroit for that matter. But the common, explaining thread, in my opinion, is what is being sold in the toast: comfort, and at least in her store, connection. From a community point of view, compassion fueled part of this, in that she became iconic in her community. But that’s not enough to give it the “legs” beyond her community.
Interesting article, on the reality of value and pricing — ultimately, why people will pay a certain amount for a purchase.
One quote from the article:
“I did a study in New York and San Francisco, standing on the street holding a sandwich, saying hello to people. No one would talk to me. But if I stayed at that same street corner and I was holding a coconut? People would engage,” she said.