December 30, 2022, 0 Comments
The paradox of choice.
After a challenging day at work, you’re taking the metro home on a Monday night. You find a seat, take out your earplugs, and start browsing Spotify to find some upbeat music to lift your spirits. You begin looking through Spotify’s selection. The first decision to be made is whether you’d prefer to listen to a cheerful song or a soulful Indian classical tune. After glancing at the seemingly endless list of songs, you decide not to listen to anything and prefer to take a nap since you are too overwhelmed. This is the prime example of what we mean when we talk about the paradox of choice. The more options offered to the consumer, the more dissatisfied they become.
In his 2004 book, Barry Schwartz demonstrated how giving your customer too many options might cause them to feel anxious and unsatisfied.
To better comprehend this paradox, let’s use a real-world scenario.
Do you still recall that moment you felt the need to get an iPhone 11? Choosing the black one is what you’ve opted to do. You walked to the store and noticed the other colors available, and then your decision-making process becomes conflicted over whether to continue purchasing the black one or the new colorful ones. This dilemma of choices is exactly what we call paradox of choice.
Do you recall when the iPhone was only available in three colors—black, white, and silver? Choosing between the three colors is simple, but when the new colors first came out, people took a lot of time in deciding which one to buy.
Therefore, putting your product the right way for your customers is the key to bag that high sale figure. Just minor tweaking to the offerings and with that minimum effort you will have human psychology doing wonder to your sales.
Just in case you are wondering how you can use this principle to your benefit but confused about it, we at Digilatic works with brands to make this happen for them and we can team up with you to help you win the race of your league.