Product assortment, also known as merchandise mix, is the range and variety of products you offer to your customers. It defines the product types your customers ultimately know you for.
The best product assortment strategy is one that maximizes sales, profit, and customer experience. Getting there isn’t simple; there are factors that can make a big difference, like current and future demand, the size of your shelf space and storage, and supplier relationships.
If you hold a product range that’s too wide, you risk diluting your image and ending up with stock that’s hard to sell. But if you only sell a narrow product range, potential customers might leave your store empty-handed because they couldn’t buy everything they needed at once—and go to your competitor instead.
