Assortment strategy is the deliberate selection and arrangement of products offered to customers. It involves deciding which items to include in a store’s inventory and how to organize them to meet customer demands effectively. The strategy considers factors like customer preferences, market trends, sales data, and available shelf space.
A well-designed assortment strategy aims to optimize sales, customer satisfaction, and profitability. It involves analyzing the target market, identifying high-demand products, and determining the right mix of brands, sizes, colors, and price points. Effective assortment strategies can enhance the shopping experience, increase sales, reduce inventory costs, and differentiate a retailer from its competitors. Regular evaluation and adjustment of the assortment strategy are crucial to adapt to changing consumer needs and market dynamics.