What is a merchandise assortment plan designed to establish?

A merchandise assortment plan is crucial for determining the optimal selection of products that a retailer will offer to meet the needs and preferences of their target market. This plan is designed to ensure that the merchandise mix consists of a balanced variety of brands, sizes, and price points.

By creating a diverse assortment, retailers can attract a broader customer base and cater to different consumer preferences. For instance, including various brands allows customers to choose from different quality levels and styles. Similarly, offering a range of sizes and price points accommodates different demographics and shopping behaviors, enhancing customer satisfaction and increasing sales potential.

While selecting the best suppliers, establishing discount strategies, and improving storage methods are important aspects of overall merchandising and inventory management, they do not directly define the core focus of a merchandise assortment plan. That focus is specifically on curating the right combination of products to optimize sales and meet consumer demand effectively.