Consumers do insane, possibly dangerous things when they feel a threat to their resources. In particular, highly commoditized resources we perceive as necessary for basic functioning. Unfortunately, panic buying shows that the difference between everyday life and chaos has a thin margin. However, it also reveals a powerful tool in your customer strategy: Scarcity. Today we will discuss how this motivates people’s decision-making.

Scarcity is something we are all a little more aware of these days, post-COVID. The supply chains are screwed up because the ports are backed up, and there aren’t enough drivers to get things to consumers, among other things. To talk about the scientific drivers behind Scarcity, we hosted Dr. Professor Kelly Goldsmith (@ProfGoldsmith) on a recent podcast.

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