HATCHIMALS AND MANIPULATION
Years ago I read a book on marketing strategies. I don’t remember the title or author. I do remember how the author said how toy companies will purposely create a shortage of a toy before Christmas. The author used the Cabbage Patch Kids as an example. The same thing happened with Tickle Me Elmo. Were these toys popular, or did their popularity soar once the toy companies purposely created a shortage saying that they can’t keep up with the demand?
I don’t know whether there is a psychological term for it, but we humans will buy anything out of a sense of urgency or lack. We want things more when we can’t have them. How many times have you seen LIMITED TIME OFFER or SUPPLIES LIMITED? In other words, if we don’t buy now then the sale will be lost forever and ever and ever and ever.
Why have Hatchimals available now, before Christmas, so everyone can buy one? Why not create a shortage, making people want them more, so those who could not buy one before Christmas will buy one after Christmas when sales are usually slow?
How ironic that the company that makes Hatchimals is Spin Master.