This is the sixth of a six-part series on the psychological factors behind brand loyalty and how it affects purchasing habits. See Part 1 here.

Scarcity. The sixth and final psychological trigger of brand loyalty according to this report by Tom Polanski is scarcity. As we approach the holiday season, this is one strategy consumers can expect to see with growing frequency.

Why is scarcity such a persuasive sales tool? In creating a sense of urgency, brands can achieve a higher level of consumer desire as explained in this interview with Stanford University researcher Dr. Maurits Kaptein.

Aside from the latest gaming console on Black Friday, which brands are using the scarcity principle to its full potential? Websites like Groupon and LivingSocial are great examples as their use of this strategy is displayed in the direct vicinity of the product. Ever considered purchasing a two-night stay in scenic Vermont during foliage season? Better hurry up, you only have an hour left and just 3 spots remaining!

In the luxury goods sector, scarcity is a major consideration in purchasing decisions since items are often custom, even one-of-a-kind. For collectors, the chance to own a rare and unique item often outweighs the price and cost to maintain. The key is to move quickly and decisively, because when will you ever see another Aston Martin One-77 bicycle?

This blog wraps up the six-part series on psychology and brand loyalty. There are countless other factors that influence how consumers connect with your brand, but here’s a recap of the last five discussed in this series:

1. Reciprocity: Feeling the need to give back when someone has given to you.
2. Commitment & Consistency: Consumers who commit to your company/brand are more likely to purchase from you.
3. Liking: Creating a likable image consumers can relate to.
4. Authority: Incorporating a celebrity or authority figure into your marketing message can increase your brand’s credibility.
5. Social Proof: Although the medium has changed, word of mouth and peer reviews are leading factors in consumers’ purchasing decisions.

Which strategies have worked best for your brand? Share your thoughts in our Comments. Still searching for the best approach? Contact Mascola and learn how to expand your brand.