So they use the limit in the form of limited time, so make people immediately buy.
The psychological principles can be read in Dr. Robert Cialdini The Psychology of Persuasion:
And also the discussion about Loss Aversion which has been widely discussed in previous materials.
ConversionXL.com reports the test results of their client’s website which initially looked like this:
It becomes like this:
The following results were obtained:
Conversion is increased by 3x just by adding the time limitation.
This strategy is also widely used by online booking applications such as Booking.com and the like:
Also on most marketplaces: