Saturday, June 20, 2009
Choice is overrated
Is choice really a consumer demand? It often over-whelms consumers, and it usually results in higher prices. Club stores and deep discounters offer little choice, yet they are the chains which are growing. Traditionally, business has thought that the consume is making a trade-off, but many consumers enjoy shopping at stores like Trader Joe or Costco. Consumers often say they want choice, but act as though it confuses them. Actually, we know that too many choices do confuse consumers and it is often deliberately used by business to get consumers to pay more than they need to.