Consumers' Reactions to Conditions of Perceived Scarcity: The Case of Fast Fashion

摘要

Scarcity signifies a loss of freedom and, to negate this loss, people tend to desire products on which such limitations are placed. This loss also influences the perceived value and desirability of those objects, thus impacting consumers' choices (Lynn 1991). Human-induced scarcities have been part of marketing folklore for long. Fast fashion retailers like Zara, H&M, and Forever 21, by inducing scarcities within their stores, have taken the fashion retail industry by storm. However, despite the success and growth of these brands, marketing literature has overlooked the importance of explaining consumers' psychological and behavioral responses to these conditions of induced scarcities. Thus, the main purpose of this study is to answer the question "How do consumers react to these unique scarcity environments that are strategically created by the marketers?" The current study through a mixed methods approach suggests the following: H1: Perceived scarcity will lead to higher (a) in-store hoarding and (b) in-store hiding behaviors among consumers. H2: The influence of perceived scarcity on (a) in-store hoarding and (b) in-store hiding will be positively moderated by consumers' levels of competitiveness. H3: The influence of perceived scarcity on (a) in-store hoarding and (b) in-store hiding will be positively moderated by consumers' levels of hedonic motivation.