Please read the following case study and answer the question which follows:
Aldi’s Kevin the Carrot toy launch leads to queues outside supermarkets
The supermarket’s festive campaign featured Kevin and his family for a third year running, with shoppers clamouring to get their hands on the toys. Aldi’s Christmas character Kevin the Carrot has inspired shoppers to queue at supermarkets to get their hands on newly launched stuffed toys in his likeness. Queues were reported ahead of stores opening as families woke up early to get their hands on the toys. In November, Aldi released its Christmas campaign featuring Kevin for a third consecutive year. His popularity has led the retailer to describe him as “just a humble carrot who stole the nation’s heart”.
This year’s campaign also introduced new character Pascal the Parsnip, who is determined to cause misery to Kevin, his wife Katie and their three children Chantenay, Baby Carrot and Jasper. Shoppers took to Twitter to record their efforts to secure their toy, with some having an early start to ensure their place at the front of the queue. Various social media platforms were awash with individuals’ documenting their efforts to secure the plush toys to avoid
An Aldi spokeswoman said: “Demand for our Kevin the Carrot toys has been exceptionally high. To avoid any disappointment, this year we increased the range by adding new characters such as Pascal the Parsnip, as well as the amount of soft toys available in each store. “We also limited purchases to two variants per customer so as many people as possible had the chance to buy these products. As with all our Specialbuys products, these are only available while stocks last.”
The plush toys were available in store on November 22nd, 2018 and once the plush toys sold out in store, people took to eBay for these sought after toys. In one day alone 150 Kevin the Carrot plush toys were sold at a price of €25 per toy. Prices rose to €45 the following day and this didn’t deter shoppers, with 120 reportedly sold at this price. The giant carrot plush toy which was available in store for €25 was fetching prices of four times that amount later that day on eBay.
Kevin and co. certainly were sought after toys for Christmas 2018.
Provide a detailed analysis on the case study above using Two relevant Economics concepts which we have studied on this module.