*This Blog Post was written during my Masters Degree*

We have reached the end of our blogging adventure, and I can say that this has been one of the most enjoyable assessments that I have been faced with throughout my university experience. I have thoroughly enjoyed looking at everything consumer related, and using our knowledge to explain common themes in this consumer obsessed world.

So let’s continue on with this last blogpost, today’s topic will be all about LIMITED EDITION! Yes I have just spoken the words that will ignite severe shopaholics dreams (myself included). So why do we as consumer love the words ‘Limited Edition’? This blog will attempt to discuss three ways that explain how these words can affect consumers.

Language is a powerful tool! The way that marketers use language can affect how consumers will respond. One way that this is achieved is with message framing. This involves a persuasive communication strategy aimed at motivating behaviour through the appeals framed in either gains or losses. When using the words ‘limited edition’ we are talking about message framing, and in particular we are talking about loss-framed messages. Research has reported that messages that have loss appeals can shape decisions of consumers purchase intentions. So when marketers use the words ‘limited edition’, they evoke a sense of urgency and with the risk of the item never coming back it can shape consumer’s purchase intentions.

So now that we have touched the language of ‘limited edition’ and how it can increase purchase intention, what is it that encourages consumer to buy the ‘limited items’. Another reason why the phrase ‘limited edition’ causes hype amongst consumers is that it brings forth the feeling of scarcity. This can be explained by the commodity theory that deals with the psychological effect of scarcity.  Scarcity enhances the value of an object that can be possessed, is useful to the possessor or can be transferred from one person to another. The commodity theory suggests that marketers can increase the perceived value of the product by manipulating the perceiver’s scarcity of the object, such as releasing ‘limited editions’.

So we have talked about language and scarcity but what can motivate consumers on a personal level to buy a ‘limited edition’ item. This can be explained through the idea of conspicuous consumption. This is defined as the spending on or consumption of luxury items which are on a lavish scale in an attempt to enhance one’s own prestige. 

Purchasing a conspicuous good not only satisfies our materialistic need but also our social need to be seen as having prestige. This can explain why consumers will purchase a “limited edition’ item; they know there will only be a certain number of these items and once they are gone the product is gone. Therefore, giving the consumer a sense of self prestige knowing that they had succeeded in getting one of these ‘limited editions’ items. 

This blogpost has explained the three ways that we can use consumer psychology to understand the power the phrase ‘Limited Edition’ will have on consumer’s purchase habits. It also explained how by the use of language, scarcity, and prestige, marketers can create hype when selling ‘limited edition’ items.