Sample product assortment -
Automate your merchandise planning and boost GMROI. Know when to shrink or expand your assortment with AI. Optimize assortment in each store and store cluster.
Automate open-to-buy budgeting and optimize purchasing. Automatically generate optimized POs across all channels. Use AI to allocate the right quantities to the right stores.
Automatically replenish inventory based on accurate forecasts. Proactively move inventory from low to high demand locations. Use AI to ensure you are only adding stock when it adds value. Dynamic price optimization using AI and external signals.
See the true impact of each promotion and optimize with AI. Use AI to optimize markdowns for maximum gross margin. Automate your return flow and reduce the cost of returns. Creating a product assortment strategy is necessary for retailers to have a holistic, long-view plan for their business.
But this is easier said than done. But your assortment strategy is your identity. It needs to be relevant to the current and upcoming trends , as well as sensitive to the unique geo-demographics of your channels and locations.
In retail, assortment refers to the entire catalogue of products and variations that a retailer carries on their physical and digital shelves. So a product assortment strategy is a plan that helps retailers decide which products to display and sell across their channels.
One element of this strategy is evaluating the tradeoff between deep assortment and wide assortments. Walmart is a classic example of a broad assortment, as they allow customers to purchase shoes, lamps, groceries, and shampoo in one convenient trip. Wide assortment breadth allows retailers to appeal to bigger demographics, but make it more difficult to appeal to more dedicated and loyal niche markets.
In contrast to a wide assortment, a deep assortment is when a retailer has fewer types of products, but many more variations of products within categories. Deep assortments can appeal to a smaller, more passionate customer base that spends more and returns regularly.
Your product assortment is the foundation for financial success but also a source of business risk. Assortment decisions are made in the pre-season planning stages, which means that the decision to purchase products happens a year or more before the first sale — and another year may pass before the selling season ends.
While there is a lot that can be revisited and corrected during the in-season process — the assortment strategy cannot be changed. Developing a solid product assortment strategy at the beginning optimizes revenue and profit while minimizing risk.
Industry-leading retailers optimize their in-store and online businesses by taking an effective, five-step approach to developing a comprehensive assortment strategy:.
This holistic approach to strategy development forms a foundation upon which retailers build successful businesses and long-term growth. A cookie-cutter assortment causes expensive stock-outs and overstocks across the business. Clustering retail locations by common attributes lets you tailor the assortment more closely.
Considering the store format is one opportunity for clustering. Other opportunities by which store clusters can be created may include looking at store behaviour in terms of sales, trends, climate, seasonality, or culture-specific demographics. Retailers often fail to consider the attributes that different products share across traditional categories, which results in cannibalization within the assortment eroding sales and profits.
Families are composed of products that are mutually substitutive and compete against each other because they share a combination of similar attributes that a customer is looking for.
In other words, a product family should be a representation of how customers think about your assortment. This means that, out of the entire assortment, the customer will only be looking at a small number of products that match his or her criteria.
If you have too few products in this family, you might lose the sale. Download Salsify's report to get insights into the latest trends and consumer behaviors. Product assortment refers to the mix of items that a business or retailer sells to customers, including the categories of products and the types of products within each category.
Product assortment is the variety of merchandise that either a business directly makes or a retailer sells. Businesses typically track their product assortment according to two categorizations: breadth and depth. Breadth refers to the number of different types of products or product lines that a business sells.
A grocery store, for instance, might sell produce, dairy, meats, and other categories of food. Depth, on the other hand, refers to the different types of items within each category. Product assortments are important to both businesses and consumers.
A product assortment strategy allows a business to narrow in on the right arrangement of items to drive sales and reach customers. Bring your team, tools, and data together to launch high-impact inbound marketing campaigns in less time. Contact Careers Customers Customer Success Support Knowledge Base Product Updates Login PXM LOGIN SXM LOGIN.
English - United States Français. What Is PXM? PXM for Brands Lead the digital shelf with Product Experience Management PXM. PXM for Retailers Source supplier product content efficiently and at scale with PXM.
What Is the Digital Shelf? Build Winning Shopping Experiences. For Brands. Centralize Centralize all your product content, no matter where it lives.
Connect Connect across the digital shelf to deliver engaging product experiences. Automate Automate manual processes to improve efficiency and accuracy. For Retailers. Onboard Accelerate your retail suppliers and product data onboarding. Validate Ensure up-to-date product data is always available to your customers.
Automate Gain the freedom to scale your business with automation. PXM Product Experience Management. PIM Manage all product content in one central system of record. Activation Easily syndicate product content to every consumer touch point.
Learn how to connect the dots of the business and take the basic knowledge to the next level of application. What is a Product Mix? Example of a Product Mix A fashion boutique could have a product mix that consists of: Tops Bottoms Footwear Accessories Each of those lines could then be further categorized into different sub-categories or subclasses, depending on the merchandise hierarchy of the business.
Product Mix Vs. Product Line A product line is a set of related products inside a product mix. Why Is It Important? Effect on Sales A carefully crafted product assortment can create great opportunities for up-selling and cross-selling existing customers, and thereby maximizing the average order value and the return on marketing spend.
Effect on Positioning On the other hand, many businesses could be taking this too far with expanding their product assortment to include unrelated products and categories in an inconsistent and incoherent manner, and so they fall into the trap of trying to be everything for everyone.
Product Mix Dimensions There are 4 dimensions to consider, while assessing a product mix. See What's Included. CONNECT THE DOTS.
Connect across the digital shelf to assortemnt engaging product experiences. Synchronize Sample product assortment supply chain, marketing, and ecommerce attributes globally. Porduct the Testing new releases platform with Discounted restaurant coupons rest of your enterprise systems architecture. Accelerate supplier onboarding while ensuring your schema requirements are met. Integrate the SXM platform with the rest of your enterprise systems architecture. Create winning product experiences on owned sites with powerful ecommerce software. Connect to the digital shelf faster with an open, standardized, and free product catalog.
Nach meiner Meinung irren Sie sich. Ich biete es an, zu besprechen.
Kann sein.