What is it?
The Collectable Effect is all about having a large offering, sold in sections that encourages buyers to collect and complete the set.
Why does it work?
It works because it leans on reactance and reverse psychology. We’re presented with the challenge of collecting all of the cards and don’t want to feel like we’re missing out or that others have an advantage over us. In some people, completing things is very important and a source of pride – that’s why free cards given out at supermarkets can be found for sale online. People literally spend money to complete the task that should have otherwise been “free”.
How can you use it?
There are two ways this can be used;
Marketing – Lego in the UK pair up with Sainsbury’s to offer free cards that need to be collected to complete the accompanying book. In your quest to get more cards, you have to spend more at the shop and thus Sainsbury’s experience an increase in sales and loyalty as buyers seek to complete the set.
Sales – Having a large offering which is split into sections and sold separately, but is clearly part of a larger set can encourage buyers to again seek to complete the set. A prime example of this would be those model building magazine subscriptions where you buy a magazine each month and it comes with a part to build the whole.