Assortment strategy plans what products a store carries, how much variety to offer, and the depth of selection within each category. It directly impacts customer satisfaction and sales.
Two main approaches: wide assortment (many categories, less depth) and deep assortment (fewer categories, more options). Walmart offers wide assortment across many categories, while a specialty shoe store offers deep assortment within footwear.
The right assortment meets customer needs without excess inventory. Data analytics and demand forecasting help retailers optimize their product mix for maximum profitability.