If there’s a scarcity of a particular item, this item is more likely to be bought in a shorter period of time, than that in unlimited numbers. This is simply because human beings by their nature tend to believe that purchasing any product that’s not easily accessible to everyone, makes them more special. That is, purchasing the very last item left makes them feel like they have purchased something exclusively available. Therefore, since a person sees, say, ‘there are 3 items left’, urgency increases and a person starts to act wishing to enter the number of chosen people.
Thus, companies can use this human psychology to their best interests by stimulating urgency. There are several tactics in order to implement this:
Did you notice that the last item left in that shopping store in your city seems more attractive that all other items?
- Provide information about low-stock availability
You can reveal to your visitors the number of items left that are scarce, triggering them, therefore, to take that opportunity and make a purchase as quick as possible.
- Limited period of time to hold items on card
Giving a chance to hold products for a particular period, say, 1 hour only, drives customer’s urgency simply because after the time expires , the possibility of a product being bought by someone else increases.
- Display Online-Only option
When you provide an “online-only” shopping option, this makes customers think that the product is scarcer and more exclusive compared with other items.
- Offer a Fast-Delivery option for a limited period of time
Making such an offer creates an opportunity of getting a faster delivery for free, while usually it costs additional fee to get a faster delivery.