Imagine there\u2019s a cupcake fair in your community and you\u2019re dying to relish a good, heartfelt red velvet cupcake. Of the many counters selling an exotic range, only two of them offer the kind you want\u2014counter A and counter R. While counter A has an animated bunch of customers digging into its delicacies and has a banner saying \u201clast 20 pieces left,\u201d counter R adorns a deathly, almost funereal look.<\/p>\n\n\n\n
Which one would you go for? If your choice is counter A, you\u2019re not alone.<\/p>\n\n\n\n
Human choices are naturally driven by scarcity. The principle of scarcity states that people tend to give more value to objects that are practically scarce as compared to those available in abundance. When applied to the field of marketing, scarcity, along with urgency, can make for a potential weapon to significantly increase eCommerce conversion sales and revenue thereafter. Of course, this can only be achieved by eCommerce companies with calibrated and systematic testing<\/a> efforts and not through random experiments.\u00a0<\/p>\n\n\n\nAnalyze your eCommerce website for free<\/h3>\n\n\n\n