What is the Function of Limited Edition as a Business Strategy?

[Suba]

Limited edition is a product that is only made and has different features and styles from its predecessor products and is only produced in a small or limited quota and will never be produced again. So limited edition products often become rare items, because investors quickly buy these items either as collections or as investments. Limited edition products often have characteristics that are different from other products so that there is satisfaction and pride for their users and of course the price is very expensive. The term limited edition is often only applied to expensive, exclusive or luxury products. Limited editions are often issued by well-known brands such as Gucci, Longchamp, Channel, Hermes, Louis Vuitton etc.

 

[Bisolami]

It helps to speed up sales
People will rush to buy it so they won't miss out

 

[Augusta]

it is to drive sales especially for luxury goods..You need to let people hurry to buy as if they don't on time they might miss out on it.