Scarcity #2 – Information (and how to get a PS5 this Christmas)
Last month we wrote a blog about how powerful the influencing effect of ‘Scarcity’ is and how this was translating into a potential shortfall for Christmas toys.
We’re here a few weeks later and things haven’t really changed; if anything they’ve worsened. News channels are suggesting that it’s ‘prudent’ to buy Christmas related products early to avoid disappointment.
Whilst the media stories may well exacerbate the problem (think about how the message ‘don’t panic buy fuel’ got us all to the pumps!), remember that there are always (even in ‘normal’ times) those products which are going to be this year’s ‘must haves’. For many it may well be a PlayStation 5 – these can only be ordered when the retailer has the stock in, or a guaranteed delivery so that you can preorder one. Then when they do have stocks, the product seems to disappear within minutes, leaving people stressed and frustrated.
Scarcity can directly relate to products or services. It can also more subtly apply to the information associated with the product/service.
Whilst an individual consumer can’t successfully change the current constraints of the supply/demand situation and supply chain woes, there are maybe some other things that we can do to help ourselves. As a parent with a child who wants a ‘must have’ I managed to find a way to get the Christmas present in plenty of time without too much frustration. Do I sound smug? Possibly just a little bit, but I think I got lucky in finding the right information.
So if you’re after a PS5, an iPhone 13, or maybe an Xbox Series X from the limited stocks available: we can help (and are proof that it works). If you’d like to know how, just follow Savage Macbeth on LinkedIn (if you’re not doing so already) and contact a member of the team. Hopefully we can help just a little bit to make it a Merry Techy Christmas for all.
Jacqui Hawkes, 14th October 2021