Product Assortment and Merchandise Planning

Retail Mix
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Retail Mix > Forum > Product Assortment and Merchandise Planning

Product Assortment and Merchandise Planning
Aniket Deolikar, Student (MBA), India, Premium Member
In the retail business, the merchandise mix is an important factor for the success of any retail company. It is essentially the product assortment that a retail store offers. Whereas some stores may carry a deep and wide assortment* (explanation at the bottom) in their merchandise mix, such as a large online retailer, other stores may have a shallow and narrow assortment*, such as a small chocolate store. To provide the store's customers a highly desirable merchandise mix and in order to decide which products can bring in most profits and which products we should keep out from the merchandise mix, the product roles matrix is a helpful tool. Here is how this product assortment matrix works: This matrix has two variables which are Sales Value and Bill Penetration. Here BILL PENETRATION means the total number of customers buying that product and SALES VALUE means the price of the product. By confronting these 2 variables, we obtain 4 quadrants or 4 product categories:

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Retail Mix
Summary
Forum
Retail Mix is a Strategy
Product Assortment and Merchandise Planning
🔥Planning Merchandise Mix at Retail Stores:
Classifications of Retail Outlets and Stores
Point of Sale Systems
Best Practices
🥇Point-of-sales Advertising
🥈Retail (Marketing) Mix Types
🥉What is a Mystery Shopper? What is the Impact of Mystery Shopping?
Trends in Global Retail Industry
Retail Management Assistance


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