Scarcity Appeals
A scarcity appeal is a marketing technique that creates a sense of urgency and limited availability to encourage people to purchase a product.
- It convinces people that they may miss out if they don't act quickly.
- It makes people feel like they need the product to keep up with others who already have it.
- It triggers the fear of missing out (FOMO) which can lead to impulsive buying.
- It can also create the perception of value in a product that may not be actually worth it.
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- Research shows that humans respond MORE to “fear of loss” than “gaining something“.
- Companies will use “limited time offers” to make it appear products are in a short supply to increase buying frequency.
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