{"id":3815,"date":"2017-05-15T11:32:23","date_gmt":"2017-05-15T10:32:23","guid":{"rendered":"https:\/\/vmunleashed.com\/?p=3815"},"modified":"2024-10-07T16:12:38","modified_gmt":"2024-10-07T15:12:38","slug":"8th-joy-retail-spring-defining-omnichannel-assortments","status":"publish","type":"post","link":"https:\/\/vmunleashed.com\/retailmeaning\/8th-joy-retail-spring-defining-omnichannel-assortments\/","title":{"rendered":"The 8th Joy of a Retail Spring: Defining Omnichannel Assortments"},"content":{"rendered":"\n<p>The question &#8220;how much product should I put in my stores?&#8221; has always generated animated and healthy debate amongst retail businesses.<\/p>\n\n\n\n<p>That question, and the discussions around it, just got a whole lot more complicated as the opportunities and threats of e-commerce and true omni-channel&nbsp;assortment allocation has made store capacities one of the most important decisions for retailers to get right.<\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p><br><\/p>\n\n\n\n<p>The inability to edit&nbsp; assortments effectively will continue to weigh down physical stores with the burden of carrying an unnecessary complete inventory.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>how should\u00a0 I allocate my assortment across physical and on-line channels?<\/li>\n\n\n\n<li>what percentage of my stock should I allocate to stores?<\/li>\n\n\n\n<li>which categories should I focus on selling in my stores?<\/li>\n\n\n\n<li>what omni-channel services do I need to employ to deliver across channels?<\/li>\n\n\n\n<li>what store experience features should I employ to maximise the visual impact, proposition and message of the product and the retail brand?<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>How we can help\u2026<b> Omni-channel assortment editing &amp; allocation<\/b><\/strong><\/p>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p><i>\u201cHow 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?<\/i><br><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><b><strong>Overview:<\/strong><\/b><\/p>\n\n\n\n<p>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\u2019s in-store and online assortments.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>External benchmarking \u2013 \u201clooking outside\u201d<\/li>\n\n\n\n<li>Quantitative benchmarking of best practice competitor physical store assortment and online assortment by total size and by department, category, brands and other segment\u2026<\/li>\n\n\n\n<li>Internal benchmarking \u2013 \u201clooking inside\u201d<\/li>\n\n\n\n<li>Quantitative assessment within typical client stores of total assortment capacities and breakdown by department, category, brand and other relevant segments<\/li>\n\n\n\n<li>Quantitative Assortment benchmarking of the client online store assortment<\/li>\n\n\n\n<li>Cross-analysis of major segments and percentage of space against percentage of sales\/profit<\/li>\n\n\n\n<li>Analysis of the variation between clients online and store assortments<\/li>\n\n\n\n<li>Comparison of assortment differences of online and stores between client and best practice competitors<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><b>Benefits<\/b><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Identify the principles of edited store assortments of best practice competitors for application to client assortment structures \u2013 as a total and by department, category, brands and other relevant segments<\/li>\n\n\n\n<li>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<\/li>\n\n\n\n<li>To conclude the size and breakdown by department, category, brand\u2026the optimum client omnichannel assortment for stores<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><b>Process:<\/b><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Online &amp; store assortment structure measurement and analysis of best practice competitors<\/li>\n\n\n\n<li>Online &amp; store assortment structure measurement, analysis and comparison for client stores<\/li>\n\n\n\n<li>Client KPI sales analysis for online &amp; in-stores by total, department, category and sku<\/li>\n\n\n\n<li>Recommendation of quantitative and qualitative assortment editing and grading for stores<\/li>\n<\/ul>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p><b>Aggressive actions <\/b><em>(from a potentially long list):<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>reduce physical store assortment capacities<\/li>\n\n\n\n<li>re-focus store selling on best selling merchandise<\/li>\n\n\n\n<li>create Wow! displays using store space to show off edited ranges<\/li>\n\n\n\n<li>control more effectively store replenishment processes<\/li>\n\n\n\n<li>communicate more clearly Omni-channel services<\/li>\n<\/ul>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Check out more of our series of&nbsp;\u201caudits, analysis, answers &amp; aggressive actions\u201d<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The question &#8220;how much product should I put in my stores?&#8221; has always generated animated and healthy debate amongst retail businesses. That question, and the discussions around it, just got a whole lot more complicated as the opportunities and threats of e-commerce and true omni-channel&nbsp;assortment allocation has made store capacities one of the most important [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22847,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13,7,308,307],"tags":[349,391,338,700,566,346,718,717],"class_list":["post-3815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-assortment-structure-planning","category-omni-channel-retailing","category-space-management","category-space-planning","tag-allocation","tag-assortment-planning","tag-assortment-structure","tag-assortment-structure-planning","tag-e-commerce","tag-omni-channel","tag-space-management","tag-space-planning"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/vmunleashed.com\/wp-content\/uploads\/2017\/05\/8-defining-omnichannel-assortments.png","_links":{"self":[{"href":"https:\/\/vmunleashed.com\/retailmeaning\/wp-json\/wp\/v2\/posts\/3815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vmunleashed.com\/retailmeaning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vmunleashed.com\/retailmeaning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vmunleashed.com\/retailmeaning\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/vmunleashed.com\/retailmeaning\/wp-json\/wp\/v2\/comments?post=3815"}],"version-history":[{"count":2,"href":"https:\/\/vmunleashed.com\/retailmeaning\/wp-json\/wp\/v2\/posts\/3815\/revisions"}],"predecessor-version":[{"id":22848,"href":"https:\/\/vmunleashed.com\/retailmeaning\/wp-json\/wp\/v2\/posts\/3815\/revisions\/22848"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vmunleashed.com\/retailmeaning\/wp-json\/wp\/v2\/media\/22847"}],"wp:attachment":[{"href":"https:\/\/vmunleashed.com\/retailmeaning\/wp-json\/wp\/v2\/media?parent=3815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vmunleashed.com\/retailmeaning\/wp-json\/wp\/v2\/categories?post=3815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vmunleashed.com\/retailmeaning\/wp-json\/wp\/v2\/tags?post=3815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}