What is variety and assortment in retail?

Asked By: Walter Wollman | Last Updated: 29th May, 2020
Category: business and finance marketing and advertising
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The main difference between variety and assortment is that variety refers to the number of different merchandise categories a retailer sells, whereas assortment is the number of different items or SKUs in a merchandise category.

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Similarly, it is asked, what does assortment mean in retail?

Product assortment is the different types of product lines and products that a company produces or a retailer offers for sale. Product assortment is characterized by its breadth, length, depth, and consistency.

Also Know, what is assortment display? Assortment Display. An interior display in which a retailer exhibits a wide range of merchandise for the customer. It may be open or closed.

Consequently, what is variety in retail?

A deep assortment—the opposite of a narrow assortment—of products means that a retailer carries a number of variations of a single product. A wide variety—the opposite of a narrow variety—of products means that a retailer carries a large number of different products.

What is efficient assortment?

Efficient Assortment Defined. A collaborative supplier-distributor process of determining the optimal product offering, within a category, that achieves target consumer fulfillment and enhanced business results.

30 Related Question Answers Found

What is the meaning of SKU?

Short for stock keeping unit, SKU is a unique numerical identifying number that refers to a specific stock item in a retailer's inventory or product catalog. The SKU is often used to identify the product, product size or type, and the manufacturer.

How do you display a product?

Product and Merchandise Display Planning
  1. Put the most consumable products at the back of the store.
  2. Line the path to the back of the store with high margin items.
  3. Put seasonal merchandise and smaller high margin items at the front of your store.
  4. Put general merchandise and groceries on separate sides of the store.

What is assortment in SAP Retail?

SAP definition: “An assortment is a SAP Retail object to which materials are assigned (a process known as “listing”).” Actually, an Assortment is a group of articles assigned to a group of sites. Because, each plant have his own assortment also.

How can product assortment be improved?

Ask potential and current customers what their buying habits are, what kinds of products they want, and if your current assortment is fulfilling their needs.
  1. Use interviews, questionnaires, surveys and focus groups to gather insights.
  2. Avoid friends who might have biased feedback.

What are assorted colors?

Our Assorted Color Balloons feature a glossy finish, perfect for a variety of occasions. Colors include red, pink, yellow, green and blue.

What is breadth and depth?

Breadth and Depth of Learning. Breadth of learning refers to the full span of knowledge of a subject. Depth of learning refers to the extent to which specific topics are focused upon, amplified and explored.

What is a retail strategist?

Retail strategy is a holistic marketing plan for a product or a service to reach and influence the consumers. This strategy covers everything from what retail channels a product or service will be available in to what should be the price or sales incentive to be given and how to display the product in the shelf.

What is the difference between depth and breadth?

The length from front to back is depth, but depth can also be the length from top to bottom. Length is how long something is, breadth is how broad something is, width is how wide something is, height is how high something is, and depth is how deep something is.

What is assortment plan?

Assortment planning is the process of selecting the collection of products which will be on offer in particular areas (localisation) and during specified periods of time (seasonality). The assortment plan defines the products that make up your categories, sub-categories, segments, and sub-segments.

How do you use variety in a sentence?

variety Sentence Examples
  1. We drove another mile before spotting a corner variety store.
  2. We have a few kinds of prepackaged sandwich meats, but there's a better variety at the counter.
  3. They chatted amiably about a variety of things.
  4. The woman owned the variety store and was never without a smile and a good word.

What does the word variety?

Definition of variety. 1 : the quality or state of having different forms or types : multifariousness. 2 : a number or collection of different things especially of a particular class : assortment. 3a : something differing from others of the same general kind : sort.

What is product depth?

The amount of sub-products offered by a business within a particular line of products. Increasing a company's product depth can involve adding new, related products to an existing product line or increasing the number of varieties of a particular product offered.

What is product length?

Product Length: refers to total number of products sold within a product line. Product Width : refers to number of separate product lines offered by a company.

What is staple merchandise?

Staple merchandise consists of the items that are regularly purchased, displayed and sold by the retailers. For a grocery store, staple merchandise will be bread, butter, milk, salt, eggs, tissues and so on. Similarly, most of the merchandise at sports store and home improvement centers are staple.

What is brand breadth?

Brand awareness can be distinguished in terms of two key dimensions – depth and breadth. Depth of brand awareness refers to how easily customers can recall or recognize the brand. Breadth of brand awareness refers to the range of purchase and consumption situations where the brand comes to mind.

What is width and depth in retail?

Width or depth: A critical choice
Customers visiting a store are looking for either the width of merchandise – the variety of product lines offered – or the depth – the number of each item or particular style of a product on offer.

What is product depth and width?

Width : Number of different product lines carries by the company. Length : Total Number of items in the product line. Depth : Number of version offered of each product in the line. Consistency : Closely related the various product lines.