Tuesday, September 11, 2018

Many Choices Can Lead To Not Choosing

As a culture we have been moving to having more and more choices on everything. Having all these choices may be making it hard for us to choose anything. An article in AARP Bulletin clearly makes this point. With 85 types of crackers to choose from, 80 pain relievers, thousands of mutual funds to pick from, we are becoming overwhelmed with all the choices we face on even the simplest of purchases.

Some studies have shown that as a supermarket increases the variety of jams or chocolates on its shelves, the number of sales actually go down. As the number of mutual funds in a 401(k) retirement plan goes up, the likelihood employees will pick any of them goes down. Even patient satisfaction goes down when the choice of medical treatments for an ailment goes up. All these choices are enough to make a person depressed, and it does.

So…to reduce your stress, recognize that it's ok not to have to pick the perfect product or service. Rather ask yourself "is this product or service going to be good enough for what I need it for?" Then, make a decision..

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