Sold Out and the Herd Mind

[BIG Mike]

Saw this on CNN and thought some of you might be interested in it

Study: Why empty shelves make shoppers buy more - CNN.com

[EndGame]

Excellent article.

It makes a good case for the whole scarcity tactic and angle. However, that scarcity should be genuine, not just a trick. I have seen it time and time again where people say they will sell out at a certain number, but carry on selling way past that point.

Interesting to see how many online tactics, strategies and models have come directly from offline sources though.

[zapseo]

Some years ago -- back in the days of either Nixon or Carter scarcity -- can't remember which.

Johnny Carson joked about scarcity. Joked about a scarcity of toilet paper.

And created one.

[Jag82]

Originally Posted by BIG Mike

Saw this on CNN and thought some of you might be interested in it

Study: Why empty shelves make shoppers buy more - CNN.com

Interesting article. Goes to show that the fear of loss is an extremely
powerful motivator.

I got my own experience to share on the Herd Mind.

A while back, a japanese clothing store in one of the malls near my place opened with huge fanfare.

They have spent a load on advertising in the newspapers...on billboards...in the magazines and so on. The visibility and expectancy level was very high.

And then...needless to say...on the day of the opening...huge crowd formed...and it literally snaked a long distance.

Nothing unusual.

But here's the thing.

A newsporter was interviewing a middle-aged lady. And the newsreporter asked her
about the new japanese store and what she intended to get.

And she replied that she don't know! The only reason she was queing up was because she saw many others queing. And she felt compelled to join in the crowd! She doesn't even know what the store was selling!

I mean...she must have been around to do something. But why did she change tack and join in the crowd which she had absolutely no clue what was going on?

"Herd mind" working at it's best here.