How to expand the range
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A rich assortment always helps to attract more customers and make your trading company more competitive. Expanding the assortment is advisable if the trading floor allows, and there are also sufficient logistic capacities.
You will need
- assortment analysis
Instruction manual
1
Analyze the available product range. The best option is to do ABC analysis, which involves ranking all products sold in three categories. In this case, the well-known Pareto marketing principle applies: it is 20% of the goods that provide 80% of the income. New product lines are needed to attract more buyers, including those who simultaneously make purchases from the running group itself.
2
Carefully analyze the organization of space in the trade area and warehouse logistics. Try to optimize them to allocate a physical place for new assortment positions. Calculate how many units of products of different categories you can place.
3
First enter commodity items that differ in price from those available. Depending on the type of trade and target clientele, you can offer goods of lower or higher value. In any case, an additional choice will increase your competitiveness.
4
Try to expand the range with exclusive products. Select rare, high-quality products that are not present in your immediate competitors. Inform customers about your new brand or type of product. Customers can purposefully go to you for exclusive goods, and at the same time acquire more familiar positions. In this way, you can increase the total turnover.
5
Carefully monitor the emergence of new products in your field. Try to have them present first. Advertising on the launch of new products, as a rule, is large enough, so you do not have to take additional steps to promote. Control the demand for newly entered positions. After months of sales, demand is steadily dropping. And in this case, you can decide whether to leave a new position in the main assortment or to display it.
Useful advice
Pay attention to customer requests. Very often, customers inquire about the availability of a product. If the question is repeated very often, it is worth entering the product into the assortment.
