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A/B Testing Idea #12 - Display low stock availability
Description
Displaying the number of items left in stock will motivate people to make their purchase more quickly in order to avoid missing out.
The more difficult or urgent it is to acquire an item, or the more easily one could miss out, the more value that item is perceived to have. Visitors will then feel the urgency to buy it before it sells out.
Principles
- Scarcity (Worchel; Lee & Adewole, 1975)
- Fear of Missing Out (FOMO) (Przybylski; Murayama; DeHaan & Gladwell, 2013)
The Research
Scarcity
The Scarcity effect is the cognitive bias that makes people place a higher value on an object that is scarce and a lower value on one that is available in abundance.
Fear of Missing Out (FOMO)
Fear of Missing Out is the apprehension that others might be doing something interesting from which one is absent or the fear of having made the wrong decision and therefore missed out on a different, perhaps better, alternative.
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