Analyze your store in terms of its location and the income level of potential customers.
Choose a price segment: you can saudi arabia mobile number have affordable, mid-range or premium products. Working in all of these categories at the same time most often does not bring the desired results. Wealthy clients require a special store format (boutique) and a special range of products (exclusive).
You need to define a clear concept for a small store. For example, you can focus on outerwear, rather than all products in this category. This way, you can offer a wide range of models within a narrow segment. Another criterion for defining the concept can be the functional purpose of the products, for example, sports goods.
Analyze your competitors' offerings, but avoid simply copying their product range. Focus on offering unique products or services that will make your company stand out. For example, this could involve selling eco-friendly products or atelier services in addition to your clothing store.
Stages of assortment formation
The parameters of the width and depth of the assortment are determined based on the format of the outlet. In low-price stores or supermarkets, the product line usually covers many product groups, but the choice within each category is limited. Specialty retail outlets prefer not to expand the assortment horizontally, but instead focus on the depth of choice within a product segment.
For budget products, the variety of items should be increased . In turn, for more expensive goods, such an approach to forming the assortment is not recommended.
It is necessary to identify positions that have constant demand. This can be done by analyzing sales data. Products with stable demand are a priority for inclusion in the assortment.
Lack of variety in the product list reduces the store's traffic rate. Buyers will feel that they have nothing to choose from. At the same time, too much variety can complicate the shopping process. An abundance of options complicates the choice, causing information overload. Buyers have to compare many options, which increases the likelihood of abandoning the purchase.
When forming a product range, it is necessary to take into account the presence of products with similar characteristics but more favorable prices (substitutes) both in your store and in competitors. The presence of such alternatives often leads to a drop in demand for certain items.
The process of forming a product range always requires changes. Some products may become irrelevant. New products are constantly appearing on the market. Updating and replenishing the range is a continuous process that requires constant attention.