Two weeks ago, I ordered thoroughly indulgent gourmet vinegar: Cavedoni Botte Piccola Italian Balsamic. The normally $56 bottle was selling for $39.99 on Woot.com. At first I resisted temptation, but after reading the enthusiastic discussion on the forums, I gave in. I am one of many who daily submit to the site's brilliant business model.
Woot purchases a single item in bulk and offers that item at a large discount until it runs out. Cialdini discussed this "weapon of influence": scarcity. We do not like when any choice, including the choice to buy, is taken away. Thus, we are more likely to buy something we know will disappear, just because we still have the opportunity to do so.
Continued...
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