How can a global brand stay relevant, desirable and create a worldwide wave of excitement?
By taking a page out of the traditional luxury rulebook and creating scarcity.
– DeBeers did it with diamonds.
– Hermes did it with Birkin.
– Adidas and Nike do it by releasing hero products in limited batches.
Both brands utilise apps to allow access to digital queues, slightly increasing fans’ chances of getting the coveted sneakers and vastly expanding the brands’ social media communities.
How do we know the desired hype has been achieved?
Released in September 2016, Adidas’ Yeezy Boost shoe sold out in under an hour; in some retail chains – in under a minute.
How can this be applied to other industries?
Bars & cafes can offer beverages (dishes) made from unusual ingredients in limited quantities, allowing social media followers to reserve their morning (lunch, after work) portion of goodness.
A gym can offer weekly small group fitness workouts (yoga classes, city runs) with celebrity specialists.