What is merchandise assortment? Describe different steps in the planning of merchandise assortment.

Merchandise assortment refers to the range and variety of products that a retailer or business offers to its customers. It encompasses the selection of products available for sale, ensuring that the assortment aligns with consumer demand, market trends, and the retailer’s goals. Merchandise assortment is a critical component in the buying and merchandising process, as it determines the variety, quantity, and diversity of products that a retailer carries in their stores or online platforms. The goal is to offer an appealing selection that will satisfy customer preferences, generate sales, and build brand loyalty.

The planning of merchandise assortment is a detailed process that involves several steps to ensure that the right products are available at the right time, place, and price. These steps are crucial in developing an assortment strategy that meets both customer expectations and business objectives. The planning process generally includes the following stages:

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