Choice and identity in today’s consumer economy

In a fiercely competitive market, consumers are provided with choice. A world of choice yields two results:

1. Decision-fatigue. Consumers are becoming overwhelmed with information overload and forced to analyze and interpret too much.

“More options, even good ones, can freeze us and make us retreat to the default plan. This behavior clearly is not rational, but it is human.” – Switch, Chip and Dan Heath

2. Forced identity crafting. Too many options cause us, and those around us to make a choice. With many options available, what we choose automatically becomes a reflection of who we are. In today’s age of consumerism, our identity is built through choice.

“The goal of business then should not be to simply sell to anyone who wants what you have—the majority—but rather to find people who believe what you believe…they perceive greater value in what you do”. – Start With Why, Simon Sinek.

Ultimately, brand defeated brandless.

My lesson for companies: Build your identity so that we can build our own.