How to choose an assortment for the store
Conduct a market research. Highlight your closest competitors, working in a similar format, and analyze their range. Identify the most common and frequency brands and product groups. Think about whether the potential range will satisfy the needs of your target audience. In the absence of obvious competitors, conduct a consumer survey to identify their needs and wishes.
Use the principles of category management. Divide the entire planned assortment into several groups, and work with each of them separately. For example, if you have a butcher shop, make the categories "raw meat", "canned food", "smoked products and sausages". After that, think over the composition of each section, based on the results of a marketing research conducted earlier. Thus, the category "raw meat" may include frozen semi-finished products, chilled cuts, refrigerated semi-finished products with additives, by-products. However, if you have a small store in a sleeping area, this category is better to reduce to frozen semi-finished products and smoked products, since all the others are unlikely to be in demand.
Purchase goods according to the research and own forecasts. At the first stage, make purchases in small batches. Try to form an assortment portfolio in such a way that products of different price categories are present in it.
Use the principle of ABC-analysis, which will allow you to identify the most expensive, as well as the most cost-effective products. So, group A will get 20% of goods that will provide you with 80% of income. It is believed that for a successful business it is enough to control only this group. However, do not forget about the less advanced categories of B and C, which provide wealthassortment .