How do you align assortment with store formats and locations?

Creating a tailored shopping experience starts with understanding the unique needs of each location. Analyzing local sales data and customer preferences ensures your product assortment matches the specific demands of each store format. Regularly updating inventory based on seasonal trends and regional insights helps you stay relevant. Communication between your central team and store managers is key, ensuring feedback from every location is incorporated. This dynamic approach allows you to provide a personalized and satisfying shopping experience for customers everywhere.

To align the assortment of the stores with the formats and location, the following is considered: 1. Mirror store, with the most complete assortment in the nearest or similar area 2. Market information (Nielsen for example). A comparison is made 3. Regional products, layout improvements, even new categories are considered to ensure innovation Each format has its objective and its reason for being in the selected location, in this way you will have the indicated catalog

Aligning assortment with store formats and locations involves tailoring product offerings to match the unique preferences and needs of each specific store's customer base. This includes analyzing demographic data, purchasing behaviors, and local market trends. By understanding the nuances of each location, retailers can curate assortments that resonate with customers, ensuring the right products are available in the right stores to maximize sales and customer satisfaction.

Having served as the Grocery Store Director for Goodwins Organics and co-founded RetailMetrix, a data analytics software company, I can attest to the paramount importance of understanding customer segments for effective assortment alignment. Utilizing Data Insights: -Leverage data from loyalty programs, surveys, and market research to segment customers based on demographics, shopping frequency, and basket size. -Implement data-driven strategies to identify the most relevant and profitable customer segments for each store format and location.

In retail, the three most important success factors are number one location, number two location, and number three location. Once a great location has been secured, you can define your business model based on store size, audience, surroundings, and traffic, which can range from vending machine to kiosk, convenience store, or supermarket. To be successful, a retailer must always adapt their model, assortment, price, and strategy to the location they belong to.

Aligning Store Formats with Objectives: -Looking at sales reports and learn what departments bring in the most money and specialty to stand out I like retailMetrix retail data analytic platfrom tool. -Drawing on my experience, I understand the significance of defining store formats and locations based on unique characteristics and objectives. -Consider criteria such as store size, layout, and sales potential to classify stores into different formats, tailoring assortment goals to each format's specific challenges.

T o align assortment with store formats and locations, start by comprehending store demographics and segmenting stores based on factors like size and location. Analyze customer behavior and preferences, then plan assortments accordingly, considering product categories, seasonality, and local trends. Optimize shelf space allocation, manage inventory efficiently, and implement tailored merchandising strategies. Continuously review and adjust strategies based on sales performance and market trends for maximum effectiveness.

In my experience, it's crucial to remember that these roles should be determined not just by performance data but also in alignment with the overarching corporate strategy. While performance metrics provide valuable information on what is currently working, integrating strategic priorities ensures that category roles support long-term goals and market positioning. By considering both performance and strategy, businesses can create a more robust framework for optimizing assortment sizes and achieving sustained growth.

Building your offering is a fundamental task for creating and capturing value in your business. Your assortment should solve all of your customers' problems by providing a wide range of products and services at an appropriate price. Your assortment should include brand leaders, brand challengers, private label products, and special offers. The number of facings per sku will vary depending on sell out and the terms negotiated with vendors. Finally, each month, a sellout analysis should be performed to make informed decisions about the assortment: listing new products, delisting slow moving products, and increasing facing for fast moving items.

Optimizing Assortment Size and Mix: -Having implemented assortment optimization strategies, I recognize the importance of optimizing assortment size and mix for each category. -Tools like assortment optimization software, ABC analysis, or Pareto principle are instrumental in determining the optimal assortment that maximizes sales, profitability, and customer satisfaction.

Feedback from the shopper is very important, being in frequent contact with them on the sales floor does not provide invaluable information. Even observing the shopper as he goes through the shelf and makes his selection of the product or brand is very interesting and provides enriching feedback. I had the experience that our best-selling product was in the central levels of the planogram, however, the height complicated access to the product; The chain relocated the product to the lower levels and sales tripled in value. It was a "simple" move but very valuable for the category and for the shopper.

Continuous Review and Adjustment: -Based on my background, I emphasize the significance of regularly reviewing and adjusting assortments. -Metrics such as sales, margin, turnover, and customer feedback are essential for assessing assortment effectiveness and identifying opportunities for improvement. -Number do not lie to do shrink repots and get something in there that sells and sparks intrest.

Merchandising also played an important role in optimizing your assortment; your merchandise can be displayed horizontally or vertically, also known as per block. Your goal is to maximize space and profit.

Being attentive to the profitability of the space of each product gives us signs of adjustments in the planogram, it is important to be attentive to the sell out and the efficiency of the replenishment. This way we will avoid air in the planogram, increase product rotation, avoid gaps and make sales more efficient.

Know your customer and obtain supporting data. During my time with A&P (company long since defunct), they once attempted to eliminate the bulk of my Ethnic HBC items (all active, orderable items) in a store with a majority African-American clientele (replacing with Pro-Hair items). I had supporting sales data available and stood my ground, keeping our customers satisfied and avoiding the impending commodity sales decline. Stand your ground, listen to your customers and support your reasoning with facts.

Use tools to help you make these decisions. Aligning assortment with store formats requires a delicate balance between data-driven insights and an understanding of customer behavior. My experience uniquely positions me to contribute valuable perspectives on effective assortment strategies.