Here’s a lesson from Chanel that has made them billions of dollars.
Luxury brands like Chanel are masters of scarcity.
They only give one or two select pieces per skew to each store.
And they do that because they don’t want anyone who’s buying a Chanel
to feel like anyone else is gonna have one.
So even if you go in cause you saw something in the magazine,
you go there and they’re like,
sorry, we’re sold out of that.
Or they’ll say something like,
you know what? I’m gonna call one of our stores in Colorado
and get that overnight airship to us.
How likely is it that you’re gonna buy?
Very high. And so,
because these products are so scarce,
they also maintain value. And so when people buy these purses,
they can resell the purses,
sometimes for more than they bought at retail.
And when a customer can do that,
that’s when he’s bastard scarcity.