The Paradox of Choice by Barry Schwarz
Humans are interesting. You would think that having a wide range of options should mean more opportunities to make a choice that satisfies you. In theory, we all like to have the freedom to choose. The reality, though, is that a large selection of options can make it very hard for people to choose among them. That difficulty often makes us anxious and our decision-making process is hindered (ever heard of analysis paralysis?). And not only that, even when we've made the decision, we may then worry that we made the wrong decision.
In this TED Talk, psychologist Barry Schwartz talks about how consumers make choices and how offering more choices can sometimes lead to fewer sales. According to extensive research, it creates a psychological burden, or a 'choice overload'. More choice means more products to scan through and more effort to choose. It also increases the odds of making the wrong choice and regretting it.
Less choice. More sales.
The lesson learned with this TED Talk is that we shouldn't always seek to maximize choice for consumers by launching endless products and variations. Researchers have found that adding more choice can be counter-productive.