What is the difference between variety and assortment?

Difference between variety and assortment can be described in a way that variety is the different types of the products or the categories of the products that the retailer displays for selling to the customers, while assortment refers to the selection of the products and planning to increase the sales of those products …

What is an example of assortment?

Assortment is defined as a group of things that vary in type. An example of an assortment is a box of chocolates with varying flavors and kinds. The definition of assortment is the act of categorizing. An example of assortment is the filing of papers into categorized folders.

What is variety in retailing?

Variety refers to the different categories of merchandise a retailer sells; it is also known as the breath of the merchandise.

What is product assortment?

Product assortment refers to the variety of products that a retailer presents to the consumer.

What does the word variety?

1 : the quality or state of having different forms or types : multifariousness. 2 : a number or collection of different things especially of a particular class : assortment. 3a : something differing from others of the same general kind : sort.

Why is assortment important?

Planning an Assortment provides you with a clear direction as to how to break up the spend to give each and every store a meaningful range, which supports their sales, fits in their space and works to their strengths.

What is product variety and assortment?

A deep assortment—the opposite of a narrow assortment—of products means that a retailer carries a number of variations of a single product. A wide variety—the opposite of a narrow variety—of products means that a retailer carries a large number of different kinds of products.

What is assortment size?

Assortment size is the number of alternative products available within a product category at any given time (Sela et al., 2009). Consumers are presented with a number of product attributes in different choice situations, which they compare and examine when selecting products.

What is assortment and merchandising?

The merchandise category hierarchy is used in the planning process but the merchandise itself is not looked at in detail. The aim of assortment planning is to create assortments and define which products are listed for which stores and the quantity of these that should be allotted to individual stores.

What is variety with example?

Variety is an assortment or the state of having many different things. An example of variety is when you have purple flowers, blue flowers, green flowers and flowers of a whole bunch of other colors.

Is variety a type?

variety noun (TYPE) a type, esp. one among a group of things that share general features and differ in some details: Several different varieties of sparrows live around here.

What is assortment analysis?

An assortment strategy in retailing involves the number and type of products that stores display for purchase by consumers. Also called a “product assortment strategy,” it is a strategic tool that retailers use to manage and increase sales.

What’s the difference between variety and an assortment?

The main difference between variety and assortment is that variety refers to the number of different merchandise categories a retailer sells, whereas assortment is the number of different items or SKUs in a merchandise category.

Which is the opposite of a wide assortment?

A deep assortment—the opposite of a narrow assortment—of products means that a retailer carries a number of variations of a single product. A wide variety—the opposite of a narrow variety—of products means that a retailer carries a large number of different products.

What is the definition of a product assortment?

Product assortment is the different types of product lines and products that a company produces or a retailer offers for sale. Product assortment is characterized by its breadth, length, depth, and consistency. Beside above, what is assortment display? Assortment Display.

What do you mean by variety in retail?

An interior display in which a retailer exhibits a wide range of merchandise for the customer. It may be open or closed. Subsequently, one may also ask, what is variety in retail? A deep assortment—the opposite of a narrow assortment—of products means that a retailer carries a number of variations of a single product.