What is Tokyo's biggest business lesson.? Hear this.. In a quaint town nestled between the mountains and the sea, there was a shop, "Kumo's Collections." Unlike other stores, Kumo's window display was almost always bare, save for a single item. Today, it was a clock, its hands frozen in time. Miyako, a young woman who had grown up in heart of Tokyo, stumbled upon Kumo's during her vacation. Intrigued by the lone clock, she entered, the bell tinkling softly behind her. A man stood behind the counter. His face, lined with age, lit up as Miyako approached, but he said nothing. Miyako gestured towards the clock. "Why just one item on display?" He leaned in, "Because, Miyako-san, when something is rare, its value isn’t just in its material or craftsmanship. It's in its scarcity." Miyako pondered this. Back in Tokyo, she ran an online boutique. Business was steady, but the competition was fierce. Her site would have hundreds of items listed, lost in the vast sea of options. Taking inspiration, she returned and revamped her online store. Instead of flooding it with choices, she showcased a limited collection. Each piece had a story, a narrative, making it unique. And as the weeks turned to months, Miyako noticed the surge in traffic to her website, sales skyrocketed, and her boutique became the talk of the town. Her customers, fearing they might miss out, began to value every curated selection she offered. The scarcity principle isn't just about limiting supply. It's about understanding the human psyche, how we perceive value, and how rarity can amplify desire. What are you making scarce in your business today? Leave comments below !! 👇 #sarbrandhawa #ecomemrce #technology
In abundance, prepare for scarcity. Thank you Sarb Randhawa
I always enjoy reading your stories and messages behind them Sarb Randhawa
Sarb Randhawa Failure is great,, it shows us what to NOT do the next time
Scarcity can influence perception and desire, Sarb Randhawa
A good story Sarb Randhawa
Nice share
How we perceive value is indeed different for everybody. Great story! Thank you, Sarb Randhawa 🙏
Valuable lessons Sarb Randhawa
Experienced and Results-Driven Senior Leader seeking Managing Director role ✪ Proven Team Builder and Advocate for People Development
11moI like it 🔥 🔥 🔥 Sarb Randhawa it speaks to the idea of doing few things well rather than many poorly - 👏👏👏