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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.:
Category management is a retailing and purchasing concept in which the range of products purchased by a business organization or sold by a retailer is broken down into discrete groups of similar or related products. These groups are known as product categories (examples of grocery categories might be: tinned fish, washing detergent, toothpastes).
Product mix, also known as product assortment, is the total number of variety of products that a firm sells to their customers. [5] It measures the total number of product lines. Some companies will focus solely and sell only one type of product that they specialise in.
Example, firms that produce luxury goods like Louis Vuitton employ an intensive placement strategy by making their products available at only a few exclusive retailers. In contrast, lower priced consumer goods like toothpaste and shampoo, typically employ an extensive placement strategy by making their products available to as many different ...
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 ...
For example, H2.5 stores include additional coolers, expanded seasonal offerings, and an enhanced shopping experience with customized end caps and space optimization that drive better unit economics.
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