the reduction of physical store capacities for an omni-channel retailer, supported by flexible and reliable inter-channel replenishment, allows the development of inspirational, best-seller focused, showcase store experiences.
the inability to edit assortments effectively will continue to weigh down physical stores with the burden of carrying an unnecessary complete inventory.
What can we do for you?
- how should I allocate my assortment across physical and on-line channels?
- what percentage of my stock should I allocate to stores?
- which categories should I focus on selling in my stores?
- what omni-channel services do I need to employ to deliver across channels?
- what store experience features should I employ to maximise the visual impact,
proposition and message of the product and the retail brand?
This is how we help…
18. Omni-channel assortment editing & allocation
“How should my assortment be edited and allocated to deliver a more commercial omni-channel proposition and a commercial physical store capacity, by how many options should it be reduced, which products should be edited, and which remaining products should form the new physical store assortment structure?
A combination of qualitative and quantitative benchmarking of both the in-store and online assortments of commercial best practice competitors, and the internal KPI assessment by best seller, worst seller and 80:20 breakdowns of the client’s in-store and online assortments.
- External benchmarking – “looking outside”
- Quantitative benchmarking of best practice competitor physical store assortment and online assortment by total size and by department, category, brands and other segment…
- Internal benchmarking – “looking inside”
- Quantitative assessment within typical client stores of total assortment capacities and breakdown by department, category, brand and other relevant segments
- Quantitative Assortment benchmarking of the client online store assortment
- Cross-analysis of major segments % space against % sales/profit
- Analysis of the variation between clients online and store assortments
- Comparison of assortment differences of online and stores between client and best practice competitors
- Identify the principles of edited store assortments of best practice competitors for application to client assortment structures – as a total and by department, category, brands and other relevant segments
- To identify by segment and range the relative sales contribution online and in physical stores, and to equate this to the physical assortment present in store
- To conclude the size and breakdown by department, category, brand…the optimum client omnichannel assortment for stores
- Online & store assortment structure measurement and analysis of best practice competitors
- Online & store assortment structure measurement, analysis and comparison for client stores
- Client KPI sales analysis for online & in-stores by total, department, category and sku
- Recommendation of quantitative and qualitative assortment editing and grading for stores
Aggressive actions (from a potentially long list):
- reduce physical store assortment capacities
- re-focus store selling on best selling merchandise
- create Wow! displays using store space to show off edited ranges
- control more effectively store replenishment processes
- communicate more clearly Omni-channel services
Check out more of our series of “audits, analysis, answers & aggressive actions”
Please get in touch. We’ll be happy to help & advise…
+44 (0)7967 609849