LeadingEDGE


Next Level Assortment

August 29, 2018 | Israel J. Rodriguez, Jr.

Running assortments or planograms for retailers is meticulous and time-consuming. What if we thought of assortments as opportunities to build better collaborative partnerships with our retail partners?


Taking a ‘next level’ approach begins with seeking a deep understanding of your retail partner’s strengths, objectives and challenges. This strategic foundation may ultimately take you both in directions you never imagined, a journey that often leads to true innovation and progress.


…think of assortment instead as an opportunity to build better collaborative partnerships

The levels illustrated are not mutually exclusive. Build value in your partnerships by raising your level of strategic engagement.


Next Level Assortment

1st Level: Efficiency - leverage shopper insights to maximize $ sales, space, GM$, traffic, while reducing out of stocks and inventory carrying costs.


2nd Level: Incremental - maximize sales net of switching and cannibalization impact. These are the analytics that drive true incremental efficiency.


3rd Level: Targeted - strategically help retail partners attract, retain & win with their most attractive & desirable shopper targets.


4th Level: Retail Equity Differentiation - build upon the first three levels to enhance strategic effectiveness of assortment & shelving by innovation with:

• shopability
• shelf and aisle design best practices
• shopper education
• in-store theatre, etc.

All logical outgrowths of assortment and shelving applied holistically in a broader shopper marketing mandate.

We help our clients maximize both efficiency and strategic effectiveness by taking an integrated approach to assortment in the context of the entire retail marketing mix. We call this approach: Retail Marketing Mix Optimization, or RMO™.


…collaborative commitment is more likely to nurture an eager willingness to boldly innovate and implement

 

This approach certainly requires more work for both partners. Retailers must be willing to engage strategically and invest with access to thought leaders, time and share data. Manufacturers invest in shopper research and analytics. These collaborations generate a wealth of actionable insights. We also find this level of collaborative commitment more likely to nurture an eager willingness to boldly innovate and implement at retail. Results have often exceeded expectations. Growth rates have doubled, tripled, far exceeding prior years’ growth.


How bold will you dare to be?

To learn more, contact us at 973-644-9788 or ijr@edgewoodcg.com.




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