You were playing your favorite casual video game when you saw the pop-up alert for a sale on virtual gem currency! In the United States, gamers spend about 35.8 billion a year on gaming software and virtual currency. But, this is such a good deal that you can’t pass it up!
Before you hit submit on that payment, are you sure that’s a good deal, or are they trying to make you buy something you otherwise wouldn’t? Keep reading to learn about artificial scarcity and how game developers use it to get you to spend your money.
Why Buy Virtual Currency at All?
Often games will allow you to buy things to help you in the game. Health, weapons, upgrades, and more come at a price. The price is some form of in-game money like gold, coins, or gems.
You can find some of this currency during the course of the game, but it’s rare. That’s why many people go to buy currency from sites like RunescapeGoldMarkt so they can buy upgrades faster.
What Is Artificial Scarcity?
Since virtual currency has no physical representation, there’s no limitation to the production of said currency. So, marketers manufacture artificial currency scarcity to generate more sales. It’s one of the ways that gaming companies keep the video game economy going.
How Do Marketers Use It?
Video game marketers use things like limited-time sales or offering only a limited number of something to make players rush into spending their money. They make you feel like you have to make a quick decision or give up the opportunity. For many people, these tactics trigger an emotional response that makes them impulsive.
Don’t Fall For FOMO Tactics
Some people get so flustered by artificial virtual currency scarcity that they spend more money than they should on in-game purchases. A smart gamer won’t let the fear of missing out (FOMO) get them into real-world financial trouble!
Keep a gaming budget and stick to it. Even if you see a sale on the gold you need, don’t go over your budget.
Another thing to watch over time is how much the currency goes for. Watch for sale cycles and make sure that the price is as good as it seems.
Time Is the Scarcest Resource of Them All
We all live in a fast-paced world where you have a few moments to make decisions. Marketers take advantage of it by forcing you to make an impulse decision.
If you want to buy those gems so you can upgrade your character, go ahead! But don’t fall for a flash sale gimmick trying to get you to spend your money without thinking.
We hope you enjoyed reading this article and that you learned all about artificial scarcity. If you’re looking for more informative articles about gaming, technology, business, and much more, check out the rest of our blog today!
