Consumers are less likely to purchase a product when presented with only one option, a new study found.
How often do you find yourself confused while selecting the right camera, mobile phone or even a perfume when there is a list of options available? Scientists from Tulane University, New Orleans, LA, have found that multiple options are far better than having a single option while planning to buy something.
Researchers conducted the study involving real-time customers, offering them different options while purchasing a DVD player. A group of buyers were offered a Sony DVD player and a second group was presented with a Philips DVD player. Researchers displayed both players, to a third group of buyers. Consumers presented with only one option, irrespective of the brand or quality, were more likely to reject a product, compared to the group of buyers presented with both options.
The findings of the study can be helpful for companies that are constantly willing to improve sales by inventing new methods. Limiting the options to only one reduces the likelihood of the consumer buying a particular object. But presenting them with multiple options in the beginning and then helping buyers narrow down the list of choices can lead to healthy sales.
"Companies should consider how options are presented to consumers. Restricting options can have lasting effects on choice. Consumers who are initially offered only one option are more likely to continue searching for alternatives even when other options are later presented," author Daniel Mochon concludes, says a press release.
The findings of the study are published in the Journal of Consumer Research.
