Whenever there is fuel scarcity, two important things happen:
People rush to buy, so they can keep.
The price of fuel goes up.
Every business owner should understand EXACTLY why this happens, so you can apply this “fuel scarcity” principle in your business to see massive sales.
Let me explain:
Whenever there is scarcity (of fuel, shoes, bags ... anything), people feel as though they are losing something, so they rush to buy.
Many times the fuel scarcity can be fake, however the market doesn’t know, so people still rush to buy.
And since the demand is higher than the supply, the fuel price goes up.
In regards to fuel, artificially creating scarcity might be illegal, but in regards to business, it is VERY LEGAL and this a principle the biggest brands in the world use.
Once you can master this principle of supply and demand in your business, you’ll be able to outsell even your biggest competition.
Here’s how it works:
Supposing you are doing your advertising well and you are already getting prospects approaching your business,
You can reduce the number of products you are selling (low supply), so that the number of people wanting your product are more than the products available (high demand).
When this happens, people begin to rush, so that they can be part of the few that get the product.
At that point, you can now increase the price of your product.
Because of the high demand, you’ll still sell out and make more profit from your business.
This simple control of supply and demand is what the biggest brands in the world use. From Rolls Royce, to Birkin bags and all other high luxury products.
They create only few products at very high prices. Since there is a limited supply of products, people rush to buy them, despite the high prices.
Controlling supply and demand in your business is a great way to boost sales and charge higher.
Once you master this principle, it works like a charm.
Apply this principle in your business and let me know how it goes.
