These and other brands with rabid fan bases can benefit from the consumer competition at product launches. It’s true that in-store, the competition could get dangerously aggressive. Shoppers shove each other, wrench items from each other, or worse. But if managed properly, the competition boosts initial sales revenues—valuable for marketers, who want to quickly recoup product development costs—and for retailers, when they recognize the demand lets them set premium prices on the items.
Researchers at Hankuk University of Foreign Studies developed a statistical model to identify which product characteristics arouse the desire to compete to be the first to own. A basic is item uniqueness. A product perceived as better than any other in that category is more than distinctive. It’s one-of-a-kind. At least until the next version is released. The Hankuk researchers also identified in their model the importance of the consumer’s need for uniqueness. If the prospective purchaser wants to be one-of-a-kind, they’ll be attracted to a product with this characteristic.
Factoring in is item scarcity. People are willing to exert more effort to obtain desired items which are in short supply. This is true whether or not the item is newly introduced to the marketplace. But when a new introduction is a limited release, a fear of missing out triggers the sort of competitiveness necessary to awaken at 3 AM to be in the front of the queue.
This relates to the more general theme of self-enhancement. New releases which enable the purchaser to claim authority or exert influence over others are more likely to lead to competitiveness. Here, too, there are individual differences. Self-enhancement is associated with personal gain at the expense of others’ welfare. The race to acquire is seen as producing winners and losers.
For the owner to claim the prestige of a winner, the item needs perceived popularity. The perception can come from the queue itself. A large group competing to be among the first further fuels the competition to be among the first. This ties back into the drive arising from scarcity. Unless the new release is perceived by the individual as popular, the competitive spirit will be compromised.
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Navigate Shoppers Toward Distinctiveness
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