Assortment Strategy in Business
An assortment strategy, also known as a product assortment strategy, is a marketing strategy used by retailers to optimize sales. The strategy is utilized by both brick and mortar businesses as well as internet businesses. It involves the number and type of products that are displayed for purchase by consumers. The strategy is usually made up of two major components: (1) The depth of products offered which includes variations, and (2) the width or breadth of the product variety, or how many types of products a retailer offers for sale. A deep assortment of products means that a retailer carries a large number of variations of a single product. A wide variety of products means that a retailer carries a large number of different types of products. Not all retailers are able to use both components of assortment strategy at the same time.