As established, limited-edition products are excellent at creating buzz that draws in old and new customers. While this generally applies to all companies selling a product, limited-edition marketing is even more significant in the food and beverage industry. Not only is it easy to excite consumers with nostalgic, intriguing, or provoking food and drink combinations, but it also plays on psychological elements that make people want to try it just to avoid “missing out on the fun.”
Take the infamous Unicorn Frappuccino, the viral drink Starbucks introduced in the spring of 2017. While commonly described as a bizarre, syrupy mix of sweet and sour flavors, that didn’t stop the colorful concoction from becoming a social media hit that quickly sold out at various chains nationwide and drove same-store sales up 4% within a month. While it wasn’t the most remarkable product taste-wise, it’s still remembered today for its bold and bright product packaging design that has never been seen again.
Marketing professionals use limited-edition food products for lots of other benefits as well, like how they:
- Generate positive press coverage and word-of-mouth marketing, helping to create buzz around the product
- Create opportunities for exclusive partnerships with influencers and other brands.
- Allow companies to test new flavors, ingredients, or packaging designs without fully committing to a long-term product
- Help companies tap into seasonal trends and capitalize on special occasions and holidays
- Enhance customer loyalty by rewarding consumers who act quickly and take advantage of limited-edition offerings