He modern consumer has no lack of choice. Brands eager to meet people’s needs provide everything from personalized services to extensive product lines and reams of information. But industry list this can be a double-edged sword. Inundated by options, opinions, and information, people may feel unsure about their purchase decisions, including who to trust and what to believe. Eighty-one percent of those who have difficulties making purchase decisions say it’s because they have too many options or too much information.1Can brands, in this age of information, help consumers industry list navigate the complex, emotional process of making purchase decisions?
To find out, I turned to experts in the field: New York Times bestselling author, Malcolm Gladwell, and Director of the Ehrenberg-Bass Institute for Marketing Science, Professor industry list Byron Sharp. 81% of people who have difficulties making purchase decisions say it’s because they have too many options or too much information. Why decision-making is industry list harder than ever for consumers For brands to help people make purchase decisions with confidence, it pays to first industry list understand how the consumer decision-making process has evolved. On this, Gladwell says: “
Through most of our history as human beings, problems were caused by a lack of information. They were puzzles you solved by finding new data. But we’re no longer industry list in an information-scarce world. We’re now in the opposite. “So, we’re no longer really dealing with puzzles. We’re dealing with mysteries. You have a big mound of data in front of you and now your job as a consumer is to sift through that data, make sense of it, prioritize it, throw out what isn’t important, and industry list zero in on what is important.”Yet, one of the things that human beings intuitively have difficulty doing is prioritizing information, he says. "