How do you shop? Are you a coupon shopper? Do you spend time online in advance comparing prices and features? Do you read as many online reviews as possible? Or, is your shopping more casual?
Dr. Barry Schwartz, who more recently wrote a chapter for APA Books about choice, freedom, and autonomy, coined the terms maximizer and satisficer in 2002 (according to the APA Dictionary of Psychology):
Maximizer: a type of consumer who wishes to make the very best decision. For example, a maximizer on a shopping trip in a grocery store is likely to carefully examine every single cereal before buying one. Generally, maximizers are considered more susceptible than the converse satisficers to all forms of regret leading to buyer’s remorse.
Satisficer: a type of consumer who is happy with a good-enough choice. For example, a satisficer on a shopping trip in a grocery store is likely to buy the first box of reasonably priced cereal he or she sees.
Which one are you? Does it depend on what you’re buying? Do you have too many choices?
VandenBos, G. R. (Ed.). (2015). APA dictionary of psychology (2nd ed.). Washington, DC: American Psychological Association.