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In fact, 40% of in-store customers spend more than they had planned compared to just a quarter of online shoppers. On average, in-store shoppers spend more than online shoppers. The variety of categories refers to the width of your assortment, while the variations within that category is the depth of your assortment. They also look at size, color, price, SKU, and other characteristics within product categories and segments. When planning assortment, retailers consider more than just the product type.

A Florida-based shop, for example, might have bathing suits year round while they may only go for sale seasonally in Montana. If you have multiple storefronts, the assortment plan for store A might different than store B. “I like to think about assortment planning like a wedding planner knows everything about the aesthetic and the flow and the feel for the guests.”Īssortment planning also happens differently depending on store location. “The blend is not only just any inventory you carryover and new inventory, it’s also about replenishing goods that sell really well and thinking about future goods,” says Guillot.

It’s about forecasting demand and understanding how you, as a retailer, can manage that demand. Though assortment planning gets way more complex and drilled down than that. This is done in a way that will drive the most sales - for example, you’ll highlight bathing suits in spring and summer instead of in winter. When retailers plan assortment, they’re planning which products to place and where during that period of time. It’s about looking at what drives cash flow.” “Assortment planning gets lumped into buying more inventory,” says Chris Guillot of Merchant Method. Retailers often confuse merchandise assortment planning with purchasing. Product assortment planning happens by period, whether daily, weekly, monthly, quarterly, or some other cadence. What is assortment planning in retail? luxury and fashionable brand new interior of cloth storeĪssortment planning defined: Assortment planning in retail is when a store optimizes visual merchandising, store layout, and product placement for the most conversions. One tactic you might not have heard of: assortment planning.īelow, we’ll look at the definition of assortment planning, why it’s important, how you can use it, and tools to plan your merchandising strategy. There are tons of ways to increase profitability, from in-store events to influencer marketing and everything in between. Staying stagnant is the quickest way to falling behind the competition. It’s always important to optimize your store for a better experience and more conversions.