What is assortment breadth?
Product assortment, sometimes referred to as merchandise mix, refers to the variety of products that a retailer stocks and sells. It’s made up of two key components: 1. Product breadth, which is the variety of product lines in a store. Product breadth is all about how wide and diverse an assortment is.
What does assortment depth mean?
Essentially, a product assortment strategy is a retail industry sales tool with the concepts of depth and breadth at its core. A deep assortment—the opposite of a narrow assortment—of products means that a retailer carries a number of variations of a single product.
What is product depth and breadth?
Product breadth is how many different products a store is offering for sale. The more products are offered the broader is the product assortment of this business. Product depth is how many different variations of each product the store is carrying.
What is assortment size?
Assortment size is the number of alternative products available within a product category at any given time (Sela et al., 2009).
What is inventory depth?
The depth is a reflection of the total number of pieces in the stocking inventory. For example, an air filter, oil filter, and fuel filter carried in stock means a width of three parts, or a part-number population of three.
What is the depth of a product?
What is product depth? Product depth refers to the variation in products that a company offers within one product line. For example, if a company has a product line of potato chips that includes five flavors and three bag sizes, the product depth for the line is 15.
What is an example of assortment?
Assortment is defined as a group of things that vary in type. An example of an assortment is a box of chocolates with varying flavors and kinds. The definition of assortment is the act of categorizing. This box has an assortment of chocolates, there’s a picture on the cover so you know which is which.
What is meant by product depth?
What is inventory assortment?
Product assortment, also known as product or merchandise mix, is the variety of merchandise that a business offers to customers. In the eyes of a customer, this assortment defines a retailer’s image and why they shop there. Product assortment will also determine a company’s dependence on particular inventory.
What is product depth?
What is breadth and depth of product assortment?
Breadth + Depth = Product Assortment. The product breadth is the number of product lines, while the product depth is the variety within each of those lines. These two elements combine to make up the store’s product assortment or merchandise mix.
What is the difference between wide assortment and deep assortment?
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 the formula for product breadth and depth?
Breadth + Depth = Product Assortment. The product breadth is the number of product lines, while the product depth is the variety within each of those lines.
What is assortment strategy and why does it matter?
Originally, assortment strategy referred only to brick-and-mortar stores because the strategy’s components of depth and breadth had a lot to do with physical space and the visual and tactile interaction between consumer and product.