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“Opportunities seem more valuable to us when their availability is limited.”
-Robert B. Cialdini
How did Coco Chanel turn Chanel no 5 into the best-selling perfume of all time?
In Robert Greene’s “The Laws of Human Nature,” he wrote that Chanel would slip bottles of the perfume “into the bags of her wealthiest and best-connected clients.”
Soon word of her fragrance spread like wildfire and women flocked to her store. She deliberately kept stock in short supply. This made it even more popular. Now it’s the best-selling perfume in history.
Scarcity drove up demand.
Today this may work even better than in Chanel’s time.