- May 29, 2023
Confused about how to successfully sell your product on different platforms? Well then, you will love to know about product assortment and its strategies, which will help you make a unique retail identity for your company.
This assortment blog will introduce you to all the key strategies essential for product assortment in retail and marketing that will help you select a better product for your company in the long run.
The most crucial step for product assortment is product hunting. While selecting a product, you need to keep the following details in check,
- Your Retail identity
- Target Customers
- Demand
- Storage Capacity
- Profitability
Doing this prep early on will help you in product marketing and managing your products across different platforms such as Amazon and eBay.
You should be aware of the customers’ requirements and select platforms that have a higher reach or are easily accessible to your target customers. For example, if you want to target local customers, you might opt for Daraz instead of Amazon.
Every E-Commerce site has its own set of requirements and product assortment measures that you can use to rank your products accordingly. You should keep a strict quality check on your products so that your customers get the quality and the same experience that they expect from your products regardless of whichever site they choose to buy them from.
Now, answering the main question, “What is Product Assortment? It is the diversity of products that you will be offering to your customers. It includes all the different options available in the product line across multiple platforms that your customers will know you for.
There are mainly two components of product assortment: Product Width and Product Depth. Product width refers to the multiple diverse product lines offered for retail, while product depth is the variety introduced in each product line.
Product assortment in retail requires consistency and dedication i.e., you should keep introducing new and unique concepts in your product line to keep your customers hooked with your brand.
Types of product assortment strategies include:
1. Wide Assortment
That your company offers many different product lines without much variety. For example, a grocery store has everything from staples to toiletries but is limited to a few brands.
2. Deep Assortment
This type of assortment offers varieties in a product type. Its example includes a pharmacy that just offers medicines and health-related products.
3. Scrambled Assortment
In this type of assortment, a company introduces a product line related to its products to attract more customers. For example, a bakery might sell candles and party supplies with its cakes.
4. Localized Assortment
Many international clothing brands approach this type of assortment in which the same brand has different apparel for their customers according to seasons in the region.
5. Mass-market Assortment
This assortment is selected by businesses that have a large inventory and offer multiple product lines to their customers. For example, amazon.
Selecting the best assortment for your business to sell your products on different platforms will help you manage your business on a larger scale.
