Assortment Planning for Retailers

Give you complete details about Assortment planning for Retail

Are you a retailer looking for ways to optimize your inventory, increase sales and satisfy your customers? If so, Spaulding Ridge will help you in assortment planning, a process that helps you choose the right products, at the right time, for the right locations and channels.

Assortment planning is not just about buying more inventory. It's about strategically planning your product mix based on customer demand, seasonality, trends, profitability and other factors. It's about creating a balance between variety and depth, width and length, newness and replenishment.

Assortment planning can help you:

Avoid stockouts and overstocks
Reduce markdowns and obsolete inventory
Increase customer loyalty and satisfaction
Maximize your store space and layout
Boost your sales and margins

To plan your assortment effectively, you need to:

Analyze your past sales performance and customer behavior
Identify your target market and segments
Forecast your future demand and trends
Group your stores by similarity and potential
Determine your range and volume of products
Design a realistic marketing and merchandising strategy
Review and implement your plan

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