Creating a perception of rarity

[japancool]

Anyone have any good ideas on creating a perception of rarity/exclusivity on products? I have a certain product range that I want people to desire because of their limited production.

If anyone wants to share any innovative funky thoughts, that'd be great

The bleeding obvious is to keep telling people they're limited edition items, but it's getting them to really believe and buy in to that message.

 

[cucumber]

What is the product? How is it limited? X number full stop. No more. Or only X per week/month/year? Why is it limited?

 

[japancool]

What is the product? How is it limited? X number full stop. No more. Or only X per week/month/year? Why is it limited?

What the product is doesn't really matter, IMO. Let's say they're collectibles.

X number full stop.

 

[cucumber]

> What the product is doesn't really matter, IMO.

I disagree. For a start, without having thought much about this, if it's a visible, social product, something people see that you own and use, then that allows for the whole exclusivity/fashion/social status side of things. That infers a certain type of person and excludes a bunch of others. On the other hand, if it isn't something people see, then either you'd need to add something / do something to make it more that kind of product, or, well I don't know, there's too many permutations, hence why I'd need to know what hte product is.

 

[cucumber]

Is the fact it's limited of value to the people who might buy it? Why?

 

[japancool]

> What the product is doesn't really matter, IMO.

I disagree. For a start, without having thought much about this, if it's a visible, social product, something people see that you own and use, then that allows for the whole exclusivity/fashion/social status side of things. That infers a certain type of person and excludes a bunch of others. On the other hand, if it isn't something people see, then either you'd need to add something / do something to make it more that kind of product, or, well I don't know, there's too many permutations, hence why I'd need to know what hte product is.

I can't think of too many limited products (as opposed to services) that people don't see.

 

[Scott-Copywriter]

Anyone have any good ideas on creating a perception of rarity/exclusivity on products? I have a certain product range that I want people to desire because of their limited production.

If anyone wants to share any innovative funky thoughts, that'd be great

The bleeding obvious is to keep telling people they're limited edition items, but it's getting them to really believe and buy in to that message.

1). Increase the price.

2). Branding, copy and even colours to fortify the impression.

3). Include a certificate of authenticity (and promote that it will be included).

4). Make them limited.

The easiest way to convince them that they're rare and exclusive is if you make them rare. State that they must be pre-ordered, even if you have them sitting on a shelf. Either that, or set any visible quantities in stock very low.

You could even try setting the products as out of stock, and offering a place for a visitor to input their e-mail to be notified when they're back in stock. Then wait a day and e-mail them to tell them you have X in stock and that they are on the first-refusal reserve list.

It really depends how far you want to go.

 

[japancool]

Is the fact it's limited of value to the people who might buy it? Why?

That's the point of the question isn't it? The aim is to try to create a value, or the percention of vaue, however you want to put it, because they are limited. Why do people pay silly money for hard to find stamps or books?

 

[japancool]

1). Increase the price.

The price is already high.

3). Include a certificate of authenticity (and promote that it will be included).

That's a good one. I'll have to see about that from the manufacturer. Helps to combat fakes as well.

4). Make them limited.

They are limited. I think I've already used that word several times.

You could even try setting the products as out of stock, and offering a place for a visitor to input their e-mail to be notified of when they're back in stock. Then wait a day and e-mail them to tell them you have X in stock and that they are on the first-refusal reserve list.

Interesting thoughts, thanks.

It really depends how far you want to go.

As far as necessary.[/quote]

 

[Scott-Copywriter]

They are limited. I think I've already used that word several times.

I mean literally. Something could be technically limited, but if it's freely available to purchase with no restriction in sight, then it's not limited from the customer's perspective.

If it's easy to buy, you're going to have trouble convincing them that it's as exclusive and as rare as you claim, so you can try intentionally making it more difficult.

For example, on top of what I mentioned above, you could try removing the ability to buy it online, and telling visitors they must contact you by giving them an e-mail input box.

It's an extreme measure, but it makes the idea of it being rare a lot more believable. It will stand out significantly if the product is the only one on your site where the traditional online checkout is not deemed worthy enough for such an exclusive product and must be handled personally.

If you don't want to go that far, then certificates of authenticity can help (with watermarked photos). You should also accentuate the quality of anything else which goes with it, such as the packaging (again, with photos). Sell the experience, not just the product itself.

 

[japancool]

I don't have control over the product packaging or availability from other outlets. But it's equally limited elsewhere, in that once the initial stock, and any in the first or second reissue is gone, that's it forever.

Suffice to say that the products and packaging are already very high quality. The challenge is getting the UK market to buy into the perception that they are more valuable because they have limited availability. Invariably, demand increases once the products have sold out.

I may be able to get certificates of authenticity, I will explore that with the manufacturer..

 

[cucumber]

> I don't have control over the product packaging or availability from other outlets. But it's equally limited elsewhere, in that once the initial stock, and any in the first or second reissue is gone, that's it forever.

> Invariably, demand increases once the products have sold out.

Wait until they've sold out elsewhere. Then sell them.

 

[SamLH]

I can't think of too many limited products (as opposed to services) that people don't see.

They said is it a social product that people see. For example a brand new super expensive phone that youre gonna carry about in public, its value is that you get to say you own something expensive over everybody else. But if its a brand new super expensive computer for your office then hardly anybody see's it, the value is internal.

 

[ADW]

Buy them all so you control supply and availability. You can then add your own handwritten certificates. Hard to know what is realistic without specifics.

 

[Mitch3473]

Buy up every last item and destroy them, except one. Cant get much rarer or exclusive than that.

 

[STDFR33]

Tell people that the product was made by unicorns.
Get a letter of authenticity from a unicorn breeder.

In all seriousness, for a retailer, hanging onto them for some time probably isn't desirable.

If others are selling the same niche product, then the price is going to be pretty standard. So can you offer a 'free' ad on that others perceive to be a high value but isn't?
For example, if you are selling buttons, could you offer a free copy signature of the inventor of the button?
The fact that the signature is easily is obtainable doesn't have to be advertised.

 

[billmccallum1957]

I it's equally limited elsewhere, in that once the initial stock, and any in the first or second reissue is gone, that's it forever.
..

Does not having a first, second re-issue negate the rarity value?

 

[webgeek]

Easy, you offer them for sale in qty 1 on other sites at 2x or 3x the price. It works for Apple.

 

[garyk]

As said limit them but perhaps number them as well?

And if you say you are only going to do 1000 then only do 1000.

Scarcity (along with many other techniques) has been adopted and then abused to the point where people are skeptical of time limited offers.

 

[NickGrogan]

It's harder as you have others selling, but take a look at what Hermes do with the birkin bag and copy.

1) increase the price, more.
2) make/create a special one or sell the first one at a crazy price. At least 30/40 times normal price and not less than £25-£30,000. Use PR to promote this crazy price
3) don't let anyone just buy it, only available to regular customers who spend alot or celebs. Everyone else goes on a waiting list, no one knows how long the waiting list is or if it even exists.
4) let certain people buy one, but only if it will be known in the market that they bought one.
5) deny that they exist or that you can buy one.
6) spread rumours that you have some, but then put people on the special waiting list for next weeks delivery.

 

[japancool]

Does not having a first, second re-issue negate the rarity value?

Not really. Reissues are not guaranteed and it never goes beyond a second reissue.

First editions are worth more than reissues as well. People pay good money to get hold of first editions.

 

[japancool]

> I don't have control over the product packaging or availability from other outlets. But it's equally limited elsewhere, in that once the initial stock, and any in the first or second reissue is gone, that's it forever.

> Invariably, demand increases once the products have sold out.

Wait until they've sold out elsewhere. Then sell them.

Not practical. It means holding a lot of stock for months before being able to sell it.

 

[japancool]

Buy them all so you control supply and availability. You can then add your own handwritten certificates. Hard to know what is realistic without specifics.

Not enough zeroes in my bank account.

 

[japancool]

Buy up every last item and destroy them, except one. Cant get much rarer or exclusive than that.

Yes, because that'll really work as a practical and sustainable business strategy.

And you can get rarer than that. When the item doesn't exist at all.

 

[japancool]

It's harder as you have others selling, but take a look at what Hermes do with the birkin bag and copy.

1) increase the price, more.
2) make/create a special one or sell the first one at a crazy price. At least 30/40 times normal price and not less than £25-£30,000. Use PR to promote this crazy price
3) don't let anyone just buy it, only available to regular customers who spend alot or celebs. Everyone else goes on a waiting list, no one knows how long the waiting list is or if it even exists.
4) let certain people buy one, but only if it will be known in the market that they bought one.
5) deny that they exist or that you can buy one.
6) spread rumours that you have some, but then put people on the special waiting list for next weeks delivery.

I'm not the manufacturer so I can't do 2 - although the manufacturer *does* produce even more limited editions, and we supply these by special request only.

5 is difficult as other news sources exist.

1. is possible, but only if they're sold out else where (and when that happens, the price naturally increases anyway).

3, 4 and 6 are possible though.

 

[NickGrogan]

Looking at point 2, whilst you can't make a special one, you can make one special.

eg.

Get it gold plated
stick diamonds to it
If it's connected to a person, get them to sign it.
get someone important in the industry to sign it
get an artist to customise or repaint it, it becomes the only one.
Get the first or last one in the series, if possible - it's already special.

 

[japancool]

Looking at point 2, whilst you can't make a special one, you can make one special.

eg.

Get it gold plated
stick diamonds to it
If it's connected to a person, get them to sign it.
get someone important in the industry to sign it
get an artist to customise or repaint it, it becomes the only one.
Get the first or last one in the series, if possible - it's already special.

Ah now signing is a good idea. I can certainly look to get that done, thanks!

 

[Banksbroo]

Ok, if you don't have control over packaging - so go for really top quality product photography. Exclusive location, great modeling, uber expensive backdrop (say chandeliers, aston martin, old masters, posh house etc.)
Product placement Yachts International rather than Mail on Sunday, get paid for magazine feature, create compelling back story etc. create air of exclusiveness. Go out of your way to stop people selling it! Vet potential stockists, have really unreasonable retailer specification. "No door security?" sorry you can't stock our rare widgets etc. Make it difficult to buy, 1 London retailer, 1 in Paris, Milan, New York, Tokyo.