Photo credit: Sour Patch Kids®
“Limited edition” products exist across all industries including technology, fashion, cosmetics and, of course, food. RCI member, Kate Wadman with Cargill Cocoa & Chocolate shares how companies big and small often use this strategy to break through the noise of evergreen activities (known for being relevant, though repetitive) in the market and pull consumers in.
Why
does this work?
At its core, “limited edition” speaks to basic economics of supply and demand. Offering unique items for only a set time can increase demand and create an elevated value for those items, as well as the overall brand. This sense of immediacy and exclusivity kickstarts the desire to buy and experience.
“Limited edition” or “special edition” also gives the product a new or never-before-seen feel that generates excitement and plays on consumer FOMO or “fear of missing out.” Consumers are attracted to a new experience for simply that, something new. They also have an innate urgency to engage, because they don’t want to lose out and are fearful they may not have the same opportunity again.
Finding
Inspiration
It’s one thing to create a limited-edition item. It’s another thing to keep the inspiration flowing for an entire line or consistent calendar of goodies.
To supplement ideation and creation of special-edition items, look to limited-time offerings in other spaces for inspiration or even to use as an ingredient itself. That’s exactly what Joe Sofia, Cargill Cocoa & Chocolate Technical Advisor, did when tasked with exploring the limited/special edition concept.
Additionally, inspired by overarching industry trends of nostalgia and sensory, Joe looked to create a recipe rooted in the limited-time offer mindset, but would also come alive in its experience and pack an emotional punch. Enter Sour Patch Kids® cereal. A much-loved candy since the 1970s, Sour Patch Kids has seen its fair share of expansion into other items, but the recent jump to a cereal inspired by the flavor might be its most unique. And it certainly fit the bill for a unique and special offering.
Four simple ingredients later, Sour Patch Kids Bark was born. White confectionery coating served as the canvas for the cereal while preserving texture and a small amount of citric acid crystals amplify the sour. Topping it off with actual Sour Patch Kids candy, added additional color to hit sensory at another eye-popping angle. Click here to download the recipe from Joe Sofia and Cargill Cocoa & Chocolate.
Opportunity
To Play
It’s
worth noting that not every limited-edition product works for everyone. It’s
important to experiment and play around to create something that speaks to your
specific customers. A great part of limited edition is that you’re not
committed to it forever. If it doesn’t work, try something else. Once you land
on the right flavors and the right mix, your limited-edition product can pack a
powerful punch.
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