We want what we can’t have, and one company is using our emotions to cash in. The 5th is an Australian fashion company that sells watches; and while its product is ordinary, its business plan is not. The 5th only sells its watches on the 5th of every month and only for five days. The company is building its brand exclusivity by telling the customer no and the customer keeps coming back for more. The company’s founder says they launched on December 5th 2014 and did $100,000 in sales on the first day. Twelve months later, and the company pulled in one million dollars in sales on December 5th 2015. Experts say besides rejecting customers The 5th is also triggering an emotional reaction with the buildup. The customer knows when the watch will be on sale and the anticipation releases a chemical cocktail of dopamine and pleasure emotions in their minds. Experts say anticipating the reward gives the brain greater pleasure than actually receiving it. And as the brand continues to expand the system will not change. Talk about controlling the marketplace.Mind Games
We want what we can’t have, and one company is using our emotions to cash in. The 5th is an Australian fashion company that sells watches; and while its product is ordinary, its business plan is not. The 5th only sells its watches on the 5th of every month and only for five days. The company is building its brand exclusivity by telling the customer no and the customer keeps coming back for more. The company’s founder says they launched on December 5th 2014 and did $100,000 in sales on the first day. Twelve months later, and the company pulled in one million dollars in sales on December 5th 2015. Experts say besides rejecting customers The 5th is also triggering an emotional reaction with the buildup. The customer knows when the watch will be on sale and the anticipation releases a chemical cocktail of dopamine and pleasure emotions in their minds. Experts say anticipating the reward gives the brain greater pleasure than actually receiving it. And as the brand continues to expand the system will not change. Talk about controlling the marketplace.