The understanding importance of E-commerce sites increases the number of different online stores. Thus, the market, diversity, and competition are rising. That is the reason why entrepreneurs must keep looking for the best methods of gaining and keeping customers.
One of the most used ways of gaining customers is falsely making a product unattainable. Product scarcity affects persons’ psychological state, making them stop hesitating over some products and rush with the shopping. It limits the time to reconsider the decision, pointing to the importance of the product and highlighting the “I have to have it” thought. This feeling comes naturally: when something is missing or scarcer, the desire to have it increases.
1. Stock scarcity
There are many methods of how scarcity is used on E-commerce sites to increase sales and gain more customers. Some of them you experienced without even noticing.
Stock scarcity is one of the basic ways of applying this method. With this, you are enlarging the importance of the product, giving the information that everyone is buying exactly that product and it soon will not be available.
It brings the FOMO (fear of missing out) to the customer, and the customer wants to win it over by buying it, doing the same thing as others. It makes customers act faster to satisfy their needs and feeling.
2. Sold out scarcity
A similar method is Sold out scarcity. A “sold out” note under a selected product makes the customer act faster next time or preordered for that product when it is back in stock. Also, it makes the customer quickly buy other selected products not experience the same thing twice.
3. Time scarcity
Time scarcity is another frequently used method. It can be played in several ways. You can limit the length of selling some products by placing the huge countdown clock. Also, time limits on discounts before returning to a higher price are a great way of gaining more sales and customers.
Another option is to make a limited free delivery of bought products. The customer then decides to go with the offer buying more products than needed.
4. Size scarcity
Size scarcity is a method used in fashion sales. It triggers customers by showing that there are only a few more products of a selected size available. It gives importance to the product, showing how modern and trendy it is. The FOMO feeling ‘attacks’ the customer for fast shopping before it becomes unavailable.
5. Price scarcity
Price scarcity refers to manipulating prices. You can make limited discounts, combining time limits and lower prices for that time range. Highlighting the price and percentage of discount makes the customer calculate not the costs but how much he gains with this shopping.
Another option is to put a “final price” or “closeout” note under the product. Without extra details, it makes the customer consider it a final chance to buy something, not knowing if it will be available again in stock or even in production.
6. Shipping scarcity
Customers are sometimes enticed to order right away while they’re on the page if they want their things sooner. This offer is often limited to a few hours or even minutes. It can also be combined with lower shipping prices, which can get even more sales.
7. Showing Messages
Another method is showing different messages under the product, telling how often it is bought or visited lately. It is often used with airplane tickets, hotel rooms, or fashion products, emphasizing how trendy and ‘hot’ it is at the moment. The messages may not contain the discounts, but they are affecting customers by showing what others like. It again triggers the need to do the same, ‘reading’ other peoples’ experiences and lifestyles.
With using scarcity, it is imperative to know your limits and not let down the customers. First, it is not recommended to keep repeating the same method on the same products over again. The customers might notice that “one left in stock” keeps showing up unrealistically.
You should make a strategy to apply methods periodically on different products. Also, suppose the customer buys a product under previously declared conditions (lower price, free shipping, gratis product, etc.). In that case, you should always respect it and not let them down by changing the rules later. It will make a stronger bond between the two sides and gain returning visitors to your shop.