Range consistency is the process of evaluating and optimizing the assortment of products available in a store or a particular category. It involves analyzing sales data, customer preferences, and market trends to determine which products should be included or excluded from the assortment.
Range consistency aims to strike a balance between meeting customer demands and maximizing profitability. By conducting range analysis, retailers can identify top-selling items, slow-moving products, and gaps in the product range. This analysis helps in making informed decisions about product selection, pricing, promotions, and inventory management. Retailers can use various tools and techniques like sales reports, customer surveys, and competitor analysis to gather data for range analysis. The ultimate goal is to offer a compelling assortment that appeals to customers, drives sales, and enhances the overall shopping experience.
