The Behavioral Economics in Marketing’s Podcast Choice Overload | Definition Minute | Behavioral Economics in Marketing
Jun 9, 2022
A quick dive into choice overload and why too many options can paralyze decision-making. A café ordering example shows how small choices add up. Listeners hear common consumer shortcuts people use to avoid complex choice situations.
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Too Many Options Impair Decisions
- Choice overload is a cognitive impairment caused by having too many options available.
- Too many similar options exhaust decision-making and often lead consumers to buy nothing.
Too Much Choice Can Stop Purchases
- When consumers face too many choices they often choose not to choose and make no purchase.
- This is particularly true when options differ only slightly, creating decision fatigue.
Similarity Intensifies Decision Fatigue
- Similar and attractive options increase mental strain and accelerate decision fatigue.
- This mental drain explains why many consumers default to specialty flavors or a regular cup of joe.