What Is product assortment in retail?

This article is part of Designing a Store

Product assortment is the different types of products that a business makes or a retailer offers for sale. Product assortment consists of the following characteristics:

  • Breadth: The breadth of a company’s product assortment relates to the number of product lines a company produces or a retailer carries. An automobile manufacturer, for example, may have a line of sedans, a line of SUVs, and a line of trucks. 
  • Length: This refers to the number of products in a particular product chain or line. For example, our automobile manufacturer may have four models of sedans, three models of SUVs, and two models of trucks in each respective product line. 
  • Depth: A product line’s depth relates to the different versions of the same product that may exist in each product line. Our auto manufacturer may have a basic, standard, and luxury version for each of its sedans and SUVs but only a basic and standard model for its trucks

The product assortiment is for a multi-brand retailer the different products of multiple brands he sells. The “P” of product is all about the goods or service that fulfils the customer’s needs. It is not only about the product itself, but also about the properties of the product. Think of the brand name, image and service. The following questions may be asked:

  • What is the function of the product assortment, what problem does it solve?
  • What are the properties of the product?
  • Which quality requirements must the product meet?
  • What brand name do we give to the product?
  • What is an appropriate design and color?
  • What is the desired image?
  • Do we offer the product in different variants?
  • What level of user convenience do we offer?
  • Do we supply accessories with the product?
  • What service and warranty do we provide with the product?

 

Many other questions may be asked depending on the type of product. For example, a company like Samsung is thinking about technology when developing their products: “Are we going to run our phones on Windows or Android technology?” And Starbucks will certainly consider sizes: “Do we pour our coffee into 250ml, 400ml or both cups?”

Wikipedia: Retail assortment strategies

Last updated byJean-Pierre Bobbaers on June 30, 2020