Influence: Sold Out!
The economy sucks for one reason: Over supply.
OK, the economy sucks for more than one reason. But this one rules.
We have no reason to buy anything except groceries, gas and other essentials (Third World countries don’t even buy toilet paper-can you imagine?).
We love to have a reason to buy! Here is what Obama and the politicians need to think about: Prodding companies to develop products that people must have.
Remember Cabbage Patch dolls? Furbies? Beanie Babies? And even Wii? The company creates the demand and then purposely undersupply it. It drives us nuts on one hand but on the other hand, it makes our creative juices flow on how we can secure the item. We will actually stand in line for hours upon hours if we know we can get the item we want. How crazy is that?
Here is another example. The radio and newspaper talks about the newest phone that takes photos, does email and the sort (before the Blackberry). Everyone rushes to the phone stores to buy the phone. You walk into the store hoping they have it in stock. The salesperson comes up to you and asks if you need help. You frantically scream out I got to have this blah-blah phone and I have to have it now.
The salesperson calmly says the last customer came in and put a deposit on our last one. You reply back that you must have one more somewhere. The salesperson states that I can check my warehouse or another store. You beg him to. So he goes into the backroom and you are watching for him like a tiger pouncing on its prey and hoping against all odds he is carrying a box with him when he comes out. When he does, you are the happiest and when the salesperson asks cash or charge, you don’t even care how much the damn phone costs. In fact, you would pay a premium for it.
I recall when OPI first did its seasonal collections. They would make so many, alert everyone of the first sale date and once they were gone, they were gone. We sold out in days. People begged for more. There were no more. Hence, people bought multiple units so they would not run out. It was mayhem and we loved every minute of it.
Today, you can buy as many South Beach collections as you want pretty much anytime you want to buy them. There is no shortage of them and consequently, there aren’t people frantically looking to buy them.
It’s time to take oversupply out of the economy. People love to pay a premium for something that is hard to get (how about sporting and concert tickets?).
Today’s choices are too many. Let’s limit the choices, limit the supply and drive the economy forward.
Now, who has Jimmy Buffett tickets at DTE for sale?
Happy Friday!
February 13th, 2009 at 2:01 pm
Limit my choices, I will go to the competition.
Limit the availibility, I will go to the competition.
Charge me more than the product is worth, I will go to the competition.
In a flat world, those are very dangerous business practices.
February 13th, 2009 at 2:28 pm
No one has Jimmy tickets?????
February 13th, 2009 at 2:49 pm
The wholesale team is experiencing this with Ginger Lily. Although the BE’s and Call Center are able to drive sales and create a demand, our distributors are waiting in the wings to get their hands on it! LG, no tickets for DTE, but I have 4 for the Aug 15th show in Chicago. How about $1000 for the set???
February 13th, 2009 at 3:10 pm
HI LG-UGG boots. They will only allocate so many to the retailers.
Our internet had them sold out before XMAS and we can’t have anymore. They have me wrapped around their finger and I can only buy more next year if I increase my total assortment. They need to hire more people in New Zealand and make more boots!
SHOUT OUT to all my purchasing friends! Miss ya.
February 13th, 2009 at 3:12 pm
Good to hear again from you B! Now you know why retailers called UGG “Ugly”!
And Vince, a set of 4 Chicago tickets is good for $40 and a bottle of Advil.
February 13th, 2009 at 5:58 pm
Innovation is the KEY!
February 14th, 2009 at 10:19 am
I’m old school-I believe that when something is ugly as those UG boots are, and people flock to by them, I ask them why? Clearly the answer is they FEEL good, same thing goes in our feild, if you make your client feel good,and they SEE the RESULTS of your expertise, be it hair, skin or nails,
they will flock to us! Especially in a poor economy I say, be on your toes to please the client, give them great results at a moderate price, and we will make it through this tough time. I say this economic time is going to produce more concern about what we make ,and how we spend it, from the client to the salon owner! Maybe it’s a good thing to get everyone on the same page so to speak.
February 16th, 2009 at 10:56 am
It’s crazy how the demand of one item, puts people in crazy mode. An example I have is Sheets! This weekend IKEA had a sale for a set of 400 count sheets for 10$ (plus tax and colors limited). One per house hold. It started at 10am and if you go there before 10:30 you got a complimentary breakfast! I am the last person you would even see out going to these crazy sales where I know people get kinda nuts. I go after the events or I at least wait till the maddness dies down. It’s just not in me to be that desperate for material things. HOwever I promised my mom we would go together. I am thinking ok no big deal it’s sheets, in and out in a few minutes, no problem. We even decided to eat breakfast at home to save on time.
Boy, what a suprise! As you walked around to the Ikea entrance a massive line of people just waiting and pumped to get in the doors of Ikea. We waited 45 mins in the freezing cold only to walk out with two sets of bed sheets! Unreal! And to top it off the sheets flew and they eneded up running out and people were devestated. Over sheets! I couldn’t believe it. But I guess when you want something bad enough it can cause anyone’s mood to change over the simplest of things. Even sheets! “If the price is right, take it to the mattresses!”
February 16th, 2009 at 4:51 pm
IKEA is always a madhouse Carly. There is no getting in and out of that store quickly. The way they have the floorplan in there it’s like you have to walk through the entire store to get out!! My fiance refuses to even step one foot in that store. LOL.
February 16th, 2009 at 5:30 pm
The best time to go to IKEA is during the day during the week, no one is there, ever!
June 26th, 2009 at 9:27 pm
HAHAHA…. this is great and believable. I think that there is an oversupply and the only defining moments are HOW WE MAKE THE CUSTOMERS FEEL. So true – I work in a full service salon. Absolutely no atmosphere. It is loud, and most of the time I hate coming to work so I can understand why my customers may feel the same way. This posts has given me some new perspective.
January 31st, 2010 at 8:18 pm
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