Highlight limited product availability to create a sense of urgency, drive demand

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 15, 2021, 1:01 PM GMT+0

Brands must pair limited-accessibility messages with testimonials, reviews and sales numbers.

About 45% of consumers say that the limited availability makes them want to learn more about or purchase that product. This reaction to messages declaring limited availability or accessibility of certain products leads to a fear of missing out and wanting something they may later fail to get.

Brands can create demand by informing customers of the product's limited availability. One way of doing so is by putting out low-stock notices. For instance, alerting customers that the effect they have in their shopping carts is running low creates a sense of urgency, pushing the customer to a purchase.

Similarly, intentionally limiting the production of certain products creates demand by making products a special-edition offering. options like same-day or next-day delivery leverage the customer's need for instant gratification.

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