scarcity

I had a great conversation with Shaun Abrahamson from Mutopo today about the emergence of abundance. Shaun is a really interesting guy and it was so much fun to hang with him. Enjoy:

Ecommerce websites have a great opportunity to exploit the “scarcity effect,” primarily because they can often provide instantaneous feedback on inventory levels and, in a credible way, let customers know when products are scarce.

In a reply to my post, The Scarcity Effect, Neuromarketing reader Keith Monaghan pointed out how one bourbon marketing effort is employing scarcity to build its brand.

The idea that scarce products are more appealing isn’t new. The latest iPhone MUST be good if hundreds of people are standing in line to snag one of the small number available at launch, right? Game console makers seem to have turned scarcity into an art, ensuring that when a new model is introduced the demand always exceeds the supply, fueling even more demand.