More options = more difficult choosing
Psycho-economist Sheena Lyengar tells us that the average grocery store today offers 45,000 types of products. The average Walmart offers 100,000. The ninth biggest retailer in the world, however, is Aldi, which offers only 1,400 products. Aldi's successful business model circumvents "choice overload." Less is more when it comes to choosing because more choices result in choice overload. In employee financial investment plans, more offerings means less participation. She recommends that we take a bit of time to think about the consequences of our choices in a vivid way to stay on target. Another technique is to order the complexity of our choices so that we start with simpler easier choices to ease into complex projects. These strategies are worth considering, since the average person makes 70 choices every day. Most people could use help "managing their choices." There is quite a bit of overlap in this topic with the work of Barry Schwartz, who presented on the "paradox of choice."