Look at top sellers and analyze why they’re so popular. Discover how Stratagem Cards & Games keeps its store fresh and engaging through community-building and great customer service. Their assortments are primarily soft goods and because of the nature of their purchasing system, their inventory is inconsistent. Connect with her on LinkedIn, Twitter, or Google+. Taking a Physical Inventory Count: 10 Practical Tips to Make the Task a Whole Lot…... 35th+Butter, a store in Walla Walla, Washington, The home improvement store MyD.IY.ie did just that and found great success, Survivor's Guide to the Retail Apocalypse. Read about how 35th+Butter keeps their assortment fresh and engaging. Certain trends can also influence your assortment at a given time, so pay attention to what’s happening in (and perhaps even outside) your market. Having a good merchandise mix requires both an art and a science. A shopper may be looking for a substitute if your business is out of stock for a certain item or if you don’t carry a specific brand that they were looking for. Like we mentioned above, assortment planning goes beyond inventory purchasing and seasonality. A retailer that sells many different types of products is considered to have a large product breadth. Health and safety concerns, lockdowns, and the shift to remote work changed the behaviors and needs of consumers, which resulted in an increased demand for certain products. This will be a great starting point for setting goals and informing your assortment planning strategy. If you cater to a more diverse demographic and your customers that fall into different age groups, then you’re better off going wide with your assortment. If your best customers love a deep assortment and you suddenly go wide and start stocking things outside your core categories, you could send shoppers packing. You can again focus on categories, but this time you’ll likely add depth to your catalog. They will carry a large assortment of athletic shoes in a wide range of sizes and colors, sometimes to the point of exhausting all possible options, but they will not carry a women’s sandal. These categories are fairly broad, such as clothing or hardware. Thanks for signing up to the Vend newsletter. We talk a lot about small ways to further your store’s efficiency, productivity, and overall success. 3. This is also true for pricing strategy. One area to look into is your on-site search. It’s important to carry items for any major retail holiday, general time of the year, or weather patterns. You may also want to add product depth. Getting your product assortment right is one of the most important — yet trickiest — things to do in retail. Adding cross-merchandise is a great way to up the average transaction value by reminding shoppers about items that they had forgotten they needed. Assortment planning in retail is a combination of the best way to optimize your product selection and quantity alongside your in-store merchandising and layout. It’s important to remember that you need not tackle all of them at once. Obviously a shoe store would not be the place to go for groceries, but it would be a good place to find a new pair of sandals. 6. KORONA comes with an unlimited free trial so every business owner can see how it works before making a purchase. Assortment planning is the process to determine what and how much should be carried in a merchandise category. Assortment Levels and Types of Retailers. “We make sure that we always have a good range of the current most popular gaming products,” shares Mark Lester, founder at Stratagem Cards and Games.

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