How do you take advantage of selling only scarce products?

[Abasiama40]

Most times selling scarce products is not a plan but rather an opportunity as in the case of palm oil which is usually scarce in my country in the last quarter of the year. One could make three times the profit that one make as the demand for palm oil increases and in turn price increases due to scarcity.

 

[Grant]

Scarce as in rare. You can profit a lot from selling rare and unique items. There are a lot of collectibles out there from funko pop figures, sports cards, pokemon cards and more that are highly collectible based on the quality and rarity. Some collectibles can draw thousands to hundreds of thousands to even millions for certain rarities.

 

[Danny4cash]

Selling of scare product could a way of becoming wealthy if you do it well. But it's not easy to start because getting scarce product in bulk to sell will not come easy. It will be easy if, for instance, you travel to a place and you discovered that a product that's scarce in community is in high quantity. So, you'll now be bringing the product to sell in your sorounding.

 

[Heatman]

This is the kind of business that you make abnormal profits from. The only this is that it would stress you to get supplies and stock them to sell. If you overcome this limitation, you are good.

You are very correct with the assessment that you have about the nature of profit-making in this kind of business because it makes it something that have increased demand since you are the only one that have access to selling the products.

 

[Trey]

The price of a product is enhanced by the difficulty in finding it to sell. That's why fuel price goes up when it is scarce. If you are selling a scarce product, the customers are price takers. It is always profitable to sell scarce products. I have sold chickens in times of scarcity and I know how profitable scarcity induced sales is profitable.

You are very correct with the assessment that you have about the nature of profit-making in this kind of business because it makes it something that have increased demand since you are the only one that have access to selling the products.

 

[Ononivami1]

The only advantage in selling scarce product is that you are going to sell it at higher amount of money . Ultimately, you are going to make huge profits from selling such product.

 

[Sotherefore]

It will still be the same , even if you have opportunity to have access to products that are scarce it will be expensive and at the same time I don't really think much profit could actually be generated from it though.
Even with that people who are dealing with such product have higher possibility of generating profit slightly higher than people who are selling competitive products.

 

[Shigobad20201]

Taking advantage of selling scarce things necessitates establishing a feeling of utmost importance and exclusivity that convinces clients that they must move quickly in order to get the commodity.

Taking advantage of selling scarce product depending if you can lay your hand on it , you need to know the season when the product will be scarce so that you can buy it when plenty and hold it till its getting scarce ,

 

[Good-Person]

Taking advantage of selling scarce product depending if you can lay your hand on it , you need to know the season when the product will be scarce so that you can buy it when plenty and hold it till its getting scarce ,

There are many businesses that tend to sell scarce products. The fact remains that they know the importance of this kind of business and how important certain products are. This is why they invest money in those products.

 

[Heatman]

Advantage of selling only scarce product is that your competitors are reduced, And you can influence the price of such product if you wish. Scarcity increases value. If there's a scarcity of a product, then there would be a perceived rise in the cost of such product.

You don't really give you the opportunity to determine the price you want to sell such product because you don't have any competitors that is going to be bringing different prices to the product in the market and this actually improves your profit making.

 

[Mostee501]

Scarcity can be a powerful marketing tool, it should be used ethically and responsibly. Ensuring that the scarcity is genuine and the product lives up to its promises is crucial for maintaining customer trust and building a sustainable business.

 

[Heatman]

Scarcity can be a powerful marketing tool, it should be used ethically and responsibly. Ensuring that the scarcity is genuine and the product lives up to its promises is crucial for maintaining customer trust and building a sustainable business.

Most people whom I know to have the monopoly in selling a product that's very scarce are never open to being ethically responsible with their customers. They always see it as a business opportunity for them to exploit their buyers!

 

[Good-Person]

Scarcity can be a powerful marketing tool, it should be used ethically and responsibly. Ensuring that the scarcity is genuine and the product lives up to its promises is crucial for maintaining customer trust and building a sustainable business.

I think that this is why there are many businessmen who may be investing money in scarce products. However, we must also understand that being scarce alone is NOT the only factor that determines the price of a particular commodity. The demand of the product is also very important as well.

 

[Heatman]

I think that this is why there are many businessmen who may be investing money in scarce products. However, we must also understand that being scarce alone is NOT the only factor that determines the price of a particular commodity. The demand of the product is also very important as well.

There's no one who's a business owner or an entrepreneur that's going to dump in a huge amount of money on scarce product that doesn't command a lot of sales. It's not a good business strategy. You will end up losing everything invested in such products.