Snubbing The Rule of Scarcity

Lobsters are steamed during a clambake at a sportsman's club in Massachusetts.

     Lobsters are expensive. I won’t buy them. The prices are bolstered by the rule of scarcity: When a product is scarce, demand for it increases along with costs.
     Marketers take this rule one step further. They create a perception of scarcity even if products are abundant. It’s done with limited time offers, or warnings that products might sell out. Every Christmas, some parents scramble—and pay higher prices—for ‘must have’ toys.
     Too many people are suckers to the rule of scarcity. Self awareness would help them.
      I visited a Toyota showroom with my father. We negotiated with a salesman over the price of a car. During the conversation, another employee sauntered over. He whispered something into the salesman’s ear. The salesman grimaced. He informed us of a possible mix up. The car we were negotiating over might not be available. He told us to sit tight. Someone in charge would get to the bottom of the situation.
     I sensed a ploy. The salesman and his colleague were creating a perception of scarcity. Their tactic rubbed me the wrong way. My father and I responded to this perception of scarcity with a demonstration of scarcity. We said goodbye, walked out the door, and never came back.