Minimising assortment for the same or increased sales is the deal that soothes many a headache for an over-stretched buying team. More for less is a wise choice, but a risky and brave one for the ill-informed.
Grocery stores exhibit the ultimate and most topical examples of the tailored assortment as every brand clamours to convert from the massive megastores to the convenience and cost-efficiencies of the smaller format. However without the attraction of the wider choice, or the lure of the lowest basket price in town, many retailers must strive to add-value and benefit to the edited assortment through service, selection and the store experience.
Booths supermarkets serve local communities and limited catchments increasingly from decreasingly sized stores, with a focused offer built from sales analysis and customer research in a continuous virtuous cycle of refinement and replenishment.
The icing on the cake of popular demand is whipped together from price comparison promises, outstanding fresh-counter service, in-store exclusives, product tastings and demonstrations and the advantages of the store loyalty card.
Complete the creation with a sizeable portion of history and heritage, and for the correct customer loyalty and patronage can be bought for the right price, the value-added price, which makes the lowest price no bargain at all.