Ecommerce
Tactic
Restrict the Availability of Status Products
Scarcity intensifies the competition for status.
Overview
Scarcity has two types:
- Quantity. Only 2 left in stock.
- Duration. Expires tomorrow.
Quantity scarcity works best for “conspicuous” products (e.g., clothing) because buyers need to compete with each other. These products become status symbols (Jang, Ko, Morris, & Chang, 2015).
Duration scarcity can work in any scenario. Perhaps you could reserve a product for 2 hours when somebody adds it to their cart.
- Jang, W. E., Ko, Y. J., Morris, J. D., & Chang, Y. (2015). Scarcity message effects on consumption behavior: Limited edition product considerations. Psychology & Marketing, 32(10), 989-1001.