I think “Black Friday” can be a great educational experience for anyone looking to earn on Internet. While most of the deals offered in traditional stores a careful observation can clearly display how similar strategies can be applied to just about anything we are doing online.
And one of the biggest lesson I have learned is how a hype surrounding a very specific product generated a huge demand and poor supply created a shortage and added to the hype. I don’t know if this is predetermined course of action by the company responsible for making the product but it has opened some opportunities that didn’t exist before.
But before going into opportunities discussion let me describe a personal situation that is so closely resembles thousands of parents just like me this holiday season …
Looks like this toy has every chance of becoming The Toy of the Christmas season. A well organized marketing campaign on Nintendo part made this game console a prime choice for many parents.
Featuring a “kid friendly” game reputation by the Nintendo and building on uniqueness of concept introduced by WII this console became the prime target for many families when shopping for gifts. My family is no exception. I was introduced to console games with first Nintendo and loved it’s simplicity and functionality. Add to it added interaction of the new platform and it quickly made it to the top of the list when considering what to buy for Christmas for my son.
With every friend getting one this season (those who already don’t) his letter to Santa makes it very clear what he expects to find under the tree. And somehow I think he is not alone, because “Black Friday” seen a swarm of parents sweeping every available console in every store I have visited.
In fact it became so rare you can’t buy it in any online retailer or pre-order. Tell me that is not the demand! I’m seeing more and more consoles been sold as bundles packed with a few good games and with a few truly crappy, that would probably never be sold any other way … I have actually started to call places when delivery is expected and even managed to find one that had a few units but in 7 minutes it took me to get there – they were all sold!
People buy Nintendo Wii like there is No Tomorrow!
Now, I don’t know if this is a clever plot on Nintendo part to create a huge anticipation by making a this console rare before holiday or simply the fact of the market where demand is bigger then supply but seems very strange that a more then year old technology is not available in sufficient quantities ….
… and there are a few lessons we can learn from it:
- Rarity is most definitely increases desirability – during this summer I seen the consoles but didn’t even think about buying it. I had plenty of time, right? Wrong! Comes holiday season and it’s nowhere to be found because everyone is buying them – be it for a personal use or for resale on eBay for double the price!
- Hype contributes to desirability – with everyone getting the system, how can my son expect anything less from Santa? And as every good father I simply must find one (at regular price).
- All above create opportunities – who would have thought that system over a year old will become so hot during Christmas? I’m not even going to mention the “bundles” where it is sold with crap I wouldn’t buy otherwise but think about the noise around eBay… people are cashing in right now using the chance.
As I have mentioned above I find it hard to believe that Nintendo is unable to produce enough units to satisfy the demand. They had more then a year to go into full production and I personally think it’s a marketing plot on their part (there, I said it – another conspiracy theory been born) .
Knowing that “Black Friday” will create shortage and increase demand they release units slowly to continue generate the high demand and will probably release enough units before the hype is over to cash in on it but who knows … I could be wrong.
What do You think?