What We Can Learn From Wu-Tang Clan’s New Album Stunt

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13.04.14

Wu Tang Clan announced recently that they’d only be pressing one copy of their up coming album ‘The Wu – Once Upon A Time In Shaolin‘.  The album, which features the group’s original members, will be housed inside a beautifully engraved silver-and-nickel box created by British-Moroccan artist Yahya. The plan is to tour it through museums, galleries and festivals, where visitors will be charged a price to listen to the 128-minute, 31 song album on headphones provided by the venue.

The Wu – Once Upon A Time In Shaolin

As  over at Forbes noted, ‘There are two kinds of product; infinite and scarce. Typical infinite products are music or videos in a digital form, which cost nothing to reproduce. Scarce products include tickets to live shows (not very scarce, but more so than digital music), custom CDs and CD box sets, signed merchandise, exclusive access to musicians, backstage passes, private concerts, and anything else that has a limited supply.’

1) Give some or all of your infinite products away for free in order to charge for the more scarce ones.

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2) The more scarce a product is, the more you can charge for it.

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3) Issue numbered items. Whether its 1000 numbered shoes or CDs,  feeling closer to the artist/brand in fan circles creates crowd-sourced and harnessed loyalty.

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4) Dont sell anything to anyone unless you know they are going to come back for more. From collectable charms, to Mc Donalds make an element of your product addictive and you’re going to be winning.

The Economic of Free, a theory put forward a few years ago in Chris Anderson’s book called Free: The Future of a Radical Price, is worth a read for more on how limited availability ( ahem Alexander Wang for H&M) and price link in. We just started a new thing on MYFLASHTRASH.COM where if one of our products is out of stock, visitors can enter their email to be notified when one of our jewellery designers has made more.. and the up take has been overwhelming. Fortunately these new unicorn earrings, cage ring and crystal necklace are all in stock :).

Silver Dipped Raw Amethyst Necklace || Front

SILVER DIPPED RAW AMETHYST NECKLACE

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