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Best Strategies for Mitigating Choice Overload

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dc.contributor Aalto University en
dc.contributor Aalto-yliopisto fi
dc.contributor.advisor Wallenius, Jyrki
dc.contributor.author Vu, Phuong Hien
dc.date.accessioned 2018-06-27T09:56:49Z
dc.date.available 2018-06-27T09:56:49Z
dc.date.issued 2018
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/32294
dc.description.abstract Objectives of the study As the growth in product variety and assortment continues to soar, consumers nowadays are more susceptible to choice overload. In order to attract and retain customers, retailers must take actions to mitigate the choice overload problem in their product assortments. Hence, this study aims to find out best strategies that enterprises can employ to mitigate choice overload. Academic background and methodology Prior research has mainly concentrated on proving the existence of choice overload problem as well as the effects of assortment size reduction on mitigating the problem. However, little research has been done on examining additional mitigation strategies for choice overload. Therefore, this study aims to identify further approaches that enterprises can adopt to mitigate choice overload problem by examining different assortment strategies as well as the consumer groups in experienced choice overload level. The assortment strategies examined in the study are Assortment Size Reduction, Categorization, Provision of a Default Option and Unconscious Information Processing. As for consumer groups, different groups classified by Gender, Age, Education and Continent were compared. The thesis employed a behavioral experiment to examine participants’ degree of experienced choice overload when making their decisions in different assortment conditions. Participants were assigned to 9 different assortment scenarios corresponding to different combinations of mitigation approaches. After making their decision in the assortment, they were asked to evaluate their choice overload based on a set of statements. The experiment results revealed the effectiveness of different mitigation approaches and the differences among consumer groups in experienced choice overload. Findings and conclusion First, the experiment confirmed the existence of choice overload effect. Second, the experiment suggested the effectiveness of assortment strategies. Third, we uncovered that most effective mitigation strategies are Reduction of Assortment Size and Unconscious Information Processing. Fourth, the mitigation strategies were discovered to be more effective when being in combination with each other instead of being stand-alone. Finally, regarding the differences among consumer groups in experienced choice overload, those who demonstrated low levels of choice overload are men, elders and highly educated people. These results suggest various actions that enterprises should consider to mitigate choice overload in their product assortments. en
dc.format.extent 78 + 15
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.title Best Strategies for Mitigating Choice Overload en
dc.type G2 Pro gradu, diplomityö fi
dc.contributor.school Kauppakorkeakoulu fi
dc.contributor.school School of Business en
dc.contributor.department Tieto- ja palvelujohtamisen laitos fi
dc.subject.keyword overchoice en
dc.subject.keyword choice overload en
dc.subject.keyword consumer psychology en
dc.subject.keyword consumer behavior en
dc.subject.keyword retail en
dc.identifier.urn URN:NBN:fi:aalto-201806273703
dc.type.ontasot Master's thesis en
dc.type.ontasot Maisterin opinnäyte fi
dc.programme Information and Service Management (ISM) en
dc.subject.helecon tietotalous fi
dc.subject.helecon palvelut fi
dc.subject.helecon kuluttajakäyttäytyminen fi
dc.subject.helecon vähittäiskauppa fi
dc.subject.helecon päätöksenteko fi
dc.subject.helecon strategia fi
dc.ethesisid 17211
dc.location P1 I fi

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