Range and assortment.
WHAT TO ESTABLISH
Who your customers are What they come for What they buy alongside it
WHAT DRIVES RANGE DECISIONS
Space Cash Demand Margin
WHY SPACE AND CASH CONSTRAIN
Every item stocked occupies both.
WHAT TO ANALYSE
Sales and margin, by item.
WHAT THAT TYPICALLY SHOWS
A small proportion of items producing most sales.
WHAT TO DO WITH THAT
Ensure those never run out.
WHY
Out-of-stock on your best sellers is the most expensive failure in retail.
WHAT TO DO ABOUT ITEMS THAT DO NOT SELL
Remove them, after a defined period.
WHAT TO DEFINE
How long an item has to prove itself.
WHAT CATEGORIES TO DISTINGUISH
Items customers come specifically for Items bought alongside Items bought on impulse Items that must be stocked for completeness
WHY THE DISTINCTION HELPS
It guides placement and how much space each deserves.
WHAT TO BE CAREFUL WITH
Stocking what you personally like Adding range without removing any
WHY THAT SECOND POINT
Range expands indefinitely and ties up cash.
WHAT TO REVIEW
The range, periodically, against sales.
WHAT TO TEST
New items, in small quantities.
WHAT TO TRACK
How long stock takes to sell, by category.
