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Assortment strategies are used by retailers in brick-and-mortar and ecommerce to decide on a daily basis how to allocate inventory to their stores as part of their merchandise planning processes. Such strategies are integral for retailers because they directly affect how their customers interact with their merchandise, and therefore, their brand.
The main characteristics of a company's product assortment are: [4] (1) the length or number of products lines the number of different products carried by a store (2) the breadth refers to the variety of product lines that a store offers. It is also known as product assortment width, merchandise breadth, and product line width.:
Each category is run as a "mini business" (business unit) in its own right, with its own set of turnover and/or profitability targets and strategies.Introduction of Category Management in a business tends to alter the relationship between retailer and supplier: instead of the traditional adversarial relationship, the relationship moves to one of collaboration, with exchange of information ...
The technique of cross merchandising is not exclusively introduced by supermarkets and department stores. Examples can be found in a wide range of markets, as brands explore new markets and boost sales by cross merchandising their products with each other's. [8] Markets that frequently adopt cross merchandising include: Food and beverage
As promotional merchandise acquires a larger portion of companies' annual budgets, its appearance in the hands of unintended recipients increases. However, this has been found to generate a positive outcome for companies without any additional effort after producing the merchandise because of the concept of silent persuasion. The concept ...
Focusing in on some Q3 category highlights at our 3.0 stores, we saw a 7% comp across our full seasonal assortment, including a 10% comp for Halloween-specific products.
Department stores are very large stores offering an extensive assortment of both "soft" and "hard" goods that often bear a resemblance to a collection of specialty stores. A retailer of such a store carries a variety of categories and has a broad assortment of goods at moderate prices. They offer considerable customer service. [13]
For example, customers could buy music in the form of an MP3 rather than buy it in the form of a physical CD. As a result, when a company is making strategy for Internet marketing, it is necessary to understand how to vary their products in the online environment. Here are some indications of adapt the product element on the Internet. [49]