Limited Edition Ideas
Exclusive deals have been a business technique since the beginning of material production. The idea of having something of in limited print or items that are only available for a limited time has drawn collectors and people who want to stand out. When a limited edition or a rare item from a person’s favorite brand more people are who are in favor of that brand are more likely to buy something that is limited edition than buying something they can normally obtain. Buying limited edition items is a good marketing campaign when businesses have a lot to offer.
Not only business are liable for using this technique though in 2015 the famed Wu tang clan released a secret album called “Once Upon A Time In Shaolin”. Rapper RZA said in a interview with Forbes magazine “We’re about to sell an album like nobody else sold it before,” he called it an exclusive collectors item that RZA said in a tweet “"We’re making a single-sale collector’s item. This is like somebody having the scepter of an Egyptian king.”. The winning bid for the album went for 2 million dollars, although it came out successful, Wu tang rapper Cilvaringz was worried and called this a gamble that could totally flop if not done correctly. Around 343 people bidded to have the one and only Wu tang album.
On January 18th 2018 famed rapper Tyler the Creator announced his collaboration with the company converse to make limited edition shoes in a tweet that solely said "GOLF le FLEUR jan 18” The likes of that tweet ended up being in 97.8k and the retweets were 17,684. The shoes went for $100 but had a resale value of $200. This drew in many people who were attracted to the shoe brand and also the rapper. They were sold on Tyler the Creators website Golf and were sold out in less than 20 minutes. The reason why his shoes sold out so quickly was because the amount of clout Tyler had and also because they were named limited edition so once they were sold out there was no way to know if they were going to sell them again. The profit Tyler and converse made from this collaboration was one of the most popular vans bought in the company's history.
Back in 2013 Stone throw records had a 10th anniversary special vinyl for one of history's best beat maker/music sampler. They had a limited edition vinyl based on the original drawing of J Dilla's idea for the album cover. When the album donuts originally came out on his birthday February 7th 2006. The 10th anniversary came out in 2013 remembering his death on February 17th which was and celebrating his album 10th anniversary. Back in 2013 the album was almost immediately sold out by J Dilla fans who bought the vinyl. Die hard fans have said this is a “must have” for all J Dilla fans. Stone Throw Records said that “The album is ten years old now. Many new people have discovered the album and the work of our favorite producer along the way. Some still ask for the drawing cover, and we're happy to oblige.” From this quote the reader can gather than the history and legacy of J Dilla is being used as a memory for his fans but also is being used to make money off a limited edition vinyl record which in the long run makes more money.
From music, clothes, and vinyls there are many different limited edition items that usually make a spike in sales. With businesses coming up with this practice and using it to make money has been commonplace in the business world. Stores such as Supreme have limited edition items each week making there resale value very high and it attracts a very young clinetell to buy there items. In the end the limited edition items usually can greatly influence people to buy the producers things, it also can make is so that the person who does buy those items have the ability to resell the limited edition items because of the rarity.
Greenburg, Zack O'Malley. “Why Wu-Tang Will Release Just One Copy Of Its Secret Album.” Forbes, Forbes Magazine, 10 Nov. 2014, www.forbes.com/sites/zackomalleygreenburg/2014/03/26/why-wu-tang-will-release-just-one-copy-of-its-secret-album/.
Jones, Riley. “Tyler, the Creator Is Releasing Three Limited-Edition Converse Shoes This Month.” Footwear News, Footwear News, 4 Jan. 2018, footwearnews.com/2018/focus/athletic-outdoor/tyler-the-creator-new-limited-edition-converse-golf-le-fleur-shoes-474624/.
“J Dilla - Donuts, 10th Anniversary Vinyl | Stones Throw Records.” Stones Throw, www.stonesthrow.com/news/2016/02/dilla-donuts-10th-anniversary-vinyl.
“Why Your Business Needs a Limited Edition Strategy.” Luth Research, 30 Nov. 2016, luthresearch.com/business-needs-limited-edition-strategy/.