Scarcity Marketing – Closed More Than Open?
Turning a flash mob into customers…
In a world of 24/7 shopping, who would have thought that opening one week every month would be a good sales strategy?
Twin Cities Business blog, State of the Brand, this week profiled a company that does just that:
The Fun Sisters Boutique should not work. But just like the bumblebee – who should not be able to fly – the Sisters are successful.
Thankfully, the business concept is much simpler than bumblebee aerodynamics. By opening during only a limited time, you concentrate buying power and interest. It’s scarcity marketing and it’s psychologically quite sound. If you can’t have something, you are likely to want it more.
Author Jason Voiovich‘s key points:
- Retail strategies based on limited hours (i.e. opening one week out of every month) may fly in the face of the 24/7 e-consumer model, but they work.
- The success of the Fun Sisters Boutique in the moribund St. Paul skyway is case in point.
- Creative entrepreneurs-mainly female entrepreneurs-are rediscovering and reinventing this classic of scarcity marketing.
Creative thinking at its best!
