The Scarcity Principle is Making You Buy More
Is the Scarcity Principle is making you buy more, this is your very last hour to find out so make sure you read this before it’s gone.
The fact you have found this post might well indicate that the Scarcity Principle is making you buy more.
So what is the Scarcity Principle?
It’s a psychological technique that attempts to make a buyer commit to a purchase or action based on the idea that the product or service is running out, or that a sale is about to end.
Pretty much like I did in the first paragraph of this article when I stated that this was ‘your very last hour to find out’ and ‘make sure you read this before it’s gone’.
This article isn’t going anywhere, but a good number of you will have clicked on this link to make sure you didn’t miss out.
But why?
There are two psychological principles at play here, one is social proof and the other is consistency.
Social proof is the idea that if something is running out, especially a physical product, then it must be in high demand, and therefore, have value. This also works with services as a services provider can only supply a certain number of clients. In relation to my scarcity of this article you may have thought that the information way limited to a certain number of people, or perhaps that it was something that was being removed from the internet, so you wanted the information as the others who had read it while it was active.
Consistency is another driving factor in the Scarcity Principle. When people commit to buying an item, or making a choice, only to find out that choice may be taken away from them it increases the urge to purchase the item or service there and then. In relation to this article the chances are you type ‘Scarcity Principle’ into a search engine (your commitment and intention to know more) then saw the opening line of text saying that this is your last hour to read the information, pushing you to click on this article.
The Scarcity Principle is Making you Buy More – How to Stop It
While retailers and suppliers may use the Scarcity Principle to make you buy now, whenever you feel that sense or urgency to purchase, just stop. Stop and take a breath, ask yourself if it is genuine scarcity or manufactured. Ask the seller fi there will be another offer in the future and if they have offered similar discounts in the past. Best of all, ask yourself if you need the item right now, if it is not immediately essential, you don’t need it until you need it.