Scarcity is one of the most effective ways to convert visitors into customers. It refers to the idea that people will buy something when it's promoted as being in short supply. The fear of missing out (FOMO) drives people, and this impulse makes them order something that they think brings value. In this video, I will discuss what scarcity is, how to use it when creating products, and how to validate design that has scarcity techniques.

00:27 What is scarcity
00:51 Psychological biases that scarcity is rooted in
02:00 Timelimited scarcity
02:34 Quantitylimited scarcity
02:59 Accessbased scarcity
03:24 How ethical is scarcity
03:56 Testing scarcity

#scarcity #psychology #design #productdesign