You should all know what's going on here.
On the product review channel Unbox Therapy, I randomly found . I just watched it casually, but after watching it, I had the feeling Curious, I'd love to know why people would want a drinking glass like this. I found this water bottle on Amazon for $24.99 original price, $14.99 sale price, limited time sale, stainless steel version only 3 left in stock. The price is cheap and the stock is low, it will be out of stock soon, and once it is out of stock I can only drink coffee from b2b data my ordinary cup that may tip over. It is really unbearable to miss this product in front of me, really can't stand it!
This kind of promotion makes us want to have the product and want to buy it immediately.
Scarcity creates a "psychological bias" that makes us place a higher value on these scarce things or items. Basically, we all tend to like things that are harder to come by.
Scarcity marketing becomes the norm
On the whole, the marketing of this scarcity starts offline. When dining in a high-end restaurant, there is only a little food in the middle on the big plate, so as to show the scarcity of ingredients. Well-known institutions of higher learning also have limited places to enroll in order to maintain their uniqueness.
This looks expensive...
But as tech companies become more mature and digital products become more sophisticated, the factor of scarcity is quickly adopted online and is now one of the most popular ways to increase consumer desire for acquisition.
In our current era, consumers are accustomed to seeing or expect to see some form of scarcity when browsing products online. In fact, this is no longer a competitive advantage, but to meet the needs of users. a starting point for the goal.
Combination of multiple "biases"
Scarcity has become very popular because this method is very effective and easy to implement. What makes this method so effective is that it combines multiple "biases":
1. Loss Aversion
If we don't take action in time for a scarce product, it means that in the short term we pass the product, and in the long run we lose the freedom to choose this product. Double the loss = double the pain.
2. Social Proof
Typically, if a product is in high demand, that product becomes scarce. And once the product is scarce, it means that many people have already bought the product, so this product must be very valuable, and we should seize the opportunity.
3. Anticipated Regret
When making decisions, we have to predict not only possible events, but also some associated regrets from inaction. And making the decision to act now is an attempt to eliminate this possibility of regret.
different forms of scarcity
Although scarcity can be used for some unquantifiable characteristics like quality or experience, it is more powerful when evaluating measurable resources such as objects or places. That's why sites like Amazon and Booking.com love this approach and use it widely.
For these measurable resources, there are actually three forms of scarcity:
1. Time is limited and scarce
If there is a time limit, a deadline is created to remind people to act before the deadline. If the deadline is unknown, people are not sure if they will still be able to buy the product later, unless they act now to place an order, which increases the pressure on consumers to buy, but lacks the same from a user experience perspective Heart.