How to choose an assortment for the store

You will need
  • - marketing research;
  • - ABC analysis system.
Do a marketing research. Highlight your closest competitors working in a similar format, and analyze their range. Identify the most common and frequency brands and product groups. Consider whether the potential range will satisfy the needs of your target audience. In the absence of obvious competitors, conduct a survey of consumers to identify their needs and wishes.
Use the principles of category management. Split the entire planned range into several groups, and work with each of them separately. For example, if you have a butcher shop, make the categories “raw meat”, “canned goods”, “smoked products and sausages”. After that, think over the composition of each section, based on the results of a marketing research conducted earlier. So, the category of "raw meat" may include frozen semi-finished products, chilled cutting, chilled semi-finished products with additives, by-products.However, if you have a small store in a residential area, this category is best reduced to frozen semi-finished products and smoked meats, since everyone else is unlikely to be in demand.
Purchase goods according to the research and own forecasts. In the first stage, make purchases in small batches. Try to form an assortment portfolio in such a way that it contains products of different price categories.
Use the principle of ABC-analysis, which allows you to identify the most popular, as well as the most profitable products. So, group A will get 20% of the goods that will provide you with 80% of your income. It is believed that for a successful business it is enough to control only this group. However, do not forget about the less popular categories B and C, which provide wealthassortment.
Helpful advice
Try to enter into the assortment of brands that would exist only in your store. This will allow you to stand out from the competition.

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