The assortment of non-food products may consist of hundreds or even thousands of products, differing from one another in terms of function, material, design, size, brand, quality, etc.
It is therefore crucial for retail staff to have a basic understanding of how a product assortment is arranged, enabling them to make a rational choice and guide customers to choose suitable products.
As you have already learned, commodity science can be helpful in analyzing products and understanding the differences between individual product groups. In this lesson, we will cover the basic concepts related to the assortment of products. Let’s find out what a product assortment is, what its characteristics are, and how to compare products within a single category.
What is a product assortment?
A product assortment is a range of products offered by a specific retailer, store, or company. In the context of non-food, an assortment may consist of clothing, footwear, household items, furniture, hand tools, appliances, personal-use goods, and other categories.
Each assortment includes a variety of products differing in their purpose, construction, materials, design, size, quality, etc.
Why should we care about the assortment?
An appropriately structured assortment simplifies the selection process for both retailers and consumers. On the one hand, the retailer must take into account different needs of consumers, consider the degree of demand, the diversity of products, the amount of floor space available, the pricing policy, and seasonality, while selecting products to include in the assortment.
On the other hand, consumers need sufficient choice in order to select a suitable product that meets their needs and preferences. However, they should not have too many products with duplicate characteristics.
Characteristics of an assortment
There are a few characteristics that can be used to describe and analyze an assortment:
Breadth is the number of different product groups that make up the assortment. For instance, a large store with a wide assortment may include a variety of non-food products such as furniture, household appliances, clothing, shoes, etc.
Depth is the number of different varieties of products within a product group. For example, the clothing department may offer several kinds of jackets, each available in different materials, sizes, colors, styles, etc.
Completeness indicates how fully a certain category of products is represented in an assortment. The more diverse the variety of products, the greater the opportunity for the consumer to choose a suitable item.
Assortment of goods
There are a lot of factors that influence the composition of a product assortment. Let’s take a look at some of them. First and foremost is consumer demand. Customer needs and preferences play a major role in determining the selection of products in an assortment. If certain products are frequently purchased by customers, they are more likely to be kept in stock. Other factors include product properties such as materials, functions, quality, style, durability, etc., which affect the compatibility of different products within an assortment. Seasonal factors can also have a major impact on the composition of the assortment.
Some non-food products have seasonal demand, such as winter clothing, summer beach gear, home products, tools, etc., and therefore the assortment needs to be updated at various times during the year. In addition, market trends and developments in technology, design, and lifestyle can also influence the product assortment. It is therefore necessary to monitor the changing market conditions and adjust the assortment accordingly.
Products belonging to one category
Even though two products belong to the same category, they may differ significantly in terms of the materials, construction, durability, style, function, etc. The principles of commodity science enable us to understand and evaluate these differences. For example, two jackets may be intended for similar purposes but be made of different materials and have different properties.
Quality and product assortment
Quality is another important factor to consider when creating a product assortment. Often, products of different quality levels are offered in order to meet the needs of different customer segments. A good assortment includes products of varying quality and price points, providing the consumer with a choice of options. Commodity knowledge helps to assess the quality of different products, enabling professionals to create a balanced assortment rather than offering only the cheapest or most expensive options.
Consumer properties of products
Another factor to consider when selecting products for an assortment is the properties that allow them to satisfy consumer needs. These are called consumer properties. Among them are functional properties that define the primary purpose of the product. Other consumer properties include ergonomic characteristics, which relate to the convenience and ease of use, and aesthetic qualities, which relate to the visual appearance.
Assortment of goods and their changes
Product assortments are dynamic. New products may be added, old products discontinued, and existing products substituted for newer models or variations. In addition, changes in technology and manufacturing can result in new product categories or transformations of existing products. In order to maintain a current assortment, it is important to periodically review the products offered and update the assortment based on changes in consumer needs and market trends.
The importance of product knowledge
Good product knowledge enables the professional to make an informed decision when choosing a product assortment and to explain the characteristics of products more effectively to the customer. Instead of simply knowing the name and price of a product, the specialist should be able to explain the differences in materials, functions, quality, maintenance, etc. This helps to establish a more meaningful relationship between products and consumer needs.
Conclusion
In conclusion, understanding product assortment is an essential component of work in the field of non-food retail. A proper assortment enables the consumer to choose from a variety of products with different properties, functions, quality, and price points. Commodity science provides the foundation for understanding these differences and identifying how products are grouped together. A good assortment is not just about the quantity of products, but about having the right products for the right needs.