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Marketers assume the more choice they offer, the more likely customers will be able to find just the right thing. For instance, offering fifty styles of jeans instead of two increases the chances that shoppers will find a pair they really like. Nevertheless, research now shows when there is too much choice, consumers are less likely to buy anything at all, and if they do buy, they are less satisfied with their selection.

It all began with jam. In 2000, psychologists Sheena Iyengar and Mark Lepper published a remarkable study. On one day, shoppers saw a display table with 24 varieties of jam. Those sampling the jam received a coupon for $1 off any jam. On another day, shoppers saw a similar table, but only six varieties of jam were on display. The large display attracted more interest than the small one. But when the time for purchase came, people seeing the large display were one-tenth as likely to buy as people seeing the small one.

Other studies have confirmed this result that more choice is not always better. As the variety of snacks, soft drinks and beers offered at convenience stores increases, for instance, sales volume and customer satisfaction decrease. These results challenge our opinions about human nature and the determinants of well-being.

Choice is good for us, but its relationship to satisfaction appears to be more complicated than we assumed. What's more, psychologists and business academics have largely ignored another outcome of choice: More of it requires increased time and effort and can lead to anxiety, regret, excessively high expectations and self-blame if the choice doesn't work out.

Without doubt, having more options enables us, most of the time, to achieve better objective outcomes. Again, having fifty styles of jeans rather than two increases the likelihood that customers will find a pair that fits. But the subjective outcome may be that shoppers will feel dissatisfied, which creates a significant challenge for retailers and marketers. Choice can no longer be used to justify a marketing strategy. More isn't always better, either for the customer or for the retailer.