New products. A store cannot constantly sell the same products. Releasing new products and placing them on display will help maintain consumer interest. The more non-standard ideas are implemented, the better. Formation and management of the product range includes a constant search for new information. For this purpose, various international exhibitions are visited, new products are introduced abroad, etc. If information appears regularly, the store can increase the efficiency of developing new product concepts.
Marketers also create a portrait of a potential buyer. Assortment managers perform other functions: they determine why bestsellers are so successful with customers. To identify the reasons, specialists rely on the description of the consumer from marketers.
For example, a store has come botim database to the conclusion that mature women complain more often than young women that their shoes are too tight around the ankle. Based on this complaint, when purchasing a new batch of boots, it is worth ordering similar models, but with a wider shaft. This will significantly increase the likelihood that the entire batch will be sold out, and, accordingly, the store's income will be higher.
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Working with suppliers
Those employees who form the product range have the opportunity to directly cooperate with their suppliers. In some cases, the company turns to the services of product purchasing managers. Specialists provide them with data on the necessary products, as well as on the needs of customers. Since suppliers are interested in selling as much product as possible, they offer various options, some of their ideas are truly original and contribute to increasing the store's income.
The task facing the assortment specialist is to establish long-term cooperation with suppliers . Therefore, it is necessary to report on the successful results of interaction.
The store and the supplier can organize joint events that will be very effective. As an example, we will cite marketing research, drawing up a portrait of a representative of the target audience. Remember that the supplier is a person who is to some extent an integral part of your company. He should be aware of important changes, know how quickly you sell the goods, and what demand is relevant. You should listen to his advice. So, the management of the product range and stocks largely depends on the supplier.
Working with suppliers
Let's give an example. In a store, demand is determined by the company's experience. Special schedules are created that will allow you to predict when the product will be most popular. It is important for the supplier to have this information. This way, he will be able to ensure the delivery of the product in the required time frame and in the required volume, thereby participating in increasing the store's income. It is important to take into account the demand for the product and always make timely adjustments to the schedules.
The ideal formation and management of the assortment in the eyes of a top manager looks like this:
The store satisfies the needs of customers as much as possible. Ideally, you will cover all consumer niches not only of the locality, but also of the region.
The company participates in the formation of needs. Often stores do not want to add new products, explaining that the demand is relevant only for the classic product.
You not only make your own income, but also bring profit to your counterparties.
There is an increase in marginality.
Convenience in sales service management is created. The structure of the assortment is not wide, it has clear divisions by product and price categories.
The utilisation of production capacities is not only maximum, but also optimal.
Download a useful document on the topic:
Checklist: How to Achieve Your Goals in Negotiations with Clients