A ‘Limited Edition’ is a marketing strategy that plans a lower supply than the possible market demand and that intends to give something new to the standard version.
The Limited Edition marketing strategy conveys a sense of immediacy and exclusivity since the products are only available for a short period of time and/or in limited numbers.
Where does the term Limited Edition come from?
This term originates in the publishing industries where a limited number of copies of books are printed with high quality impressions and sold at a premium price.
Very often, in fact, the classic version with a very large print is run and the Limited Edition version with an extra cover and print is sold at a higher price.
Starting with books, this strategy has become very common in other sectors outside of the publishing industry.
Creating products with luxury finishes or other features that make them unique allows you to offer a higher price by tapping into the desire for a niche market that puts more value on extreme quality than convenience.
What are the advantages of a “Limited Edition”?
We see three advantageous factors to a Limited Edition.
Creates a sense of urgency and desire
The consumer will try to buy it as quickly as possible as soon as the release of the new collection is announced.
The messages that you communicate to possible customers are that “there will only be a few pieces available” and “there’s no time to waste to get one if you want one”.
All this sense of urgency increases the desire that must be satisfied through attention to every detail.
Exclusivity and Belonging
Owning a Limited Edition product can generate excitement and encourage customers to be constantly engaged in a non-stop ritual in which they know when to return to buy another luxury product.
By keeping the standards high, exclusive and wonderful looking objects are created. This in turn establishes a desire in the public to buy other objects to proudly show off to their friends or to display in their office.