When you go to a shopkeeper and you want to buy something and it would be too frustrating if he says that this thing is not available. There may be many reasons behind the unavailability of a particular product and it is a great challenge for a retail trader to pinpoint the products which people want to buy. Another big dare is to approximate the right amount of wares. If you stock too much amount of products and you have to give discounts for clearing it, It would be a loss.
For getting rid of all these complexities a good assortment planning can integrate with your shop. Assortment planning ensures that how much quantity you should pick and also the product type according to market demand. The situation becomes pretty complex in the fashion sector because trends are changed after a certain period of time.
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Choose apparel products according to demand
On an initial stage of assortment planning, you have to interpret the basic rules and according to the retailer, they categorized the product into two categories first one is Width which stands for the number of a variety of numerous products. Another one is depth means the number of product and trademark contrast within a particular category.
For example, stores can be selective for the general category but they have to thought deeply in the selection of garments. Both two factors confirm that assortment planning takes place. They have to convert their category and product selection to the dormant. Stores do they assortment planning according to the floor and shelves.
On the other hand when retailer looks for easy planning and they will sort stores with similar products. You can do this type of planning on the basis of sales revenue range, floor space, and buyers statistics.
How to decide the appropriate mix for the stores
Do retailers inspect the past data or go through the user expectation? If they stock in great quantity then there will be a lack of focus and customers will confuse. If you are not clear to your store identity then it would impact on your sale. In other situation, if you have a small number of products then your rival can take benefit as he offers a wide range of products.
You have to identify which product you want to sell which you should skip out of the assortment. This is the era of social media marketing so there is a remarkable improvement with a customer-focused approach. Retailers are still confused about how to decide their merchandise planning.
Chief components to consider
Retailers are really finding it difficult to hit the right planning. The solution is that they have to focus on brand, range, category weight, market swings, etc. After the analysis, each factor gives them the hint along with palpable information from the marketing department.
There are no certain criteria to know that which product customer want to buy. There are too many hurdles in the way. they can follow the trend or maybe tense for further trends.
The balance between trends and foremost
You can apply a variation in your stock:
- Some variants of trendy products
- Some from previous seasons
- Some products of more current trends
It really works because when you place forward the top trendy styles then it will attract customers and sales fast. Like this top brands are sold quickly and at desired price. And the product from previous season can be displayed with a sale price and they too sold vastly because people attracted to the sale products. You have to take a variation in products.
Are you ready for next season’s assortment
As we know apparel stores have many things including clothing, footwear and accessories and there also products which changes fast. With right assortment planning you can come to know customers demand and current fashion products. With right assortment planning you easily satisfy your customers and also get profit. You will have the right products in right amount for fulfilling customer demand.
Finally you would get to know that how a good assortment planning benefits you and are able to modify your store in a right way. There are many factors to be considered for applying the good planning. A great retailer is one which understand the expectation of his customers and also has the right products to satisfy them and through assortment planning one can achieve this goal. Still, any query regarding assortment planning then comment below and also share your experiences with us.
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