A rich assortment always helps to attract more buyers and make your trade enterprise more competitive. Expansion of the assortment is advisable if the retail space allows, and there is also sufficient logistics capacity.
It is necessary
assortment analysis
Instructions
Step 1
Analyze the available product range. The best option is to do an ABC analysis, which involves ranking all products sold into three categories. In this case, the well-known Pareto marketing principle operates: it is 20% of the goods that provide 80% of the income. New headings are needed to attract a larger number of buyers, including those who simultaneously make purchases from the most popular group.
Step 2
Carefully analyze the organization of space in the shopping area and warehouse logistics. Try to optimize them to provide physical space for new assortment items. Calculate how many units of products of different categories you can place.
Step 3
First, enter commodity items that differ in price from the existing ones. Depending on the type of trade and the target clientele, you can offer a product of a lower or higher value. In any case, additional choice will increase your competitiveness.
Step 4
Try to expand your assortment with exclusive products. Pick out rare, quality products that your closest competitors don't have. Inform your customers that you have a new brand or product type. Customers can purposefully go to you for an exclusive product, and at the same time purchase more familiar items. In this way, you can increase the overall turnover.
Step 5
Keep a close eye on the emergence of new products in your field. Try to have them in your first place. Advertising for new product launches is usually large enough so you don't have to take additional promotional steps. Control the demand for newly entered positions. After several months of sales, demand is steadily falling. And in this case, you can decide whether to keep the new position in the main assortment or to withdraw it.
