Product assortment in a Kirana store business involves carefully selecting and organising the range of products to be sold in order to meet the diverse needs and preferences of the local customers.
By analysing sales data and customer feedback, Kirana store owners can identify best-selling products and underperforming items, allowing them to optimise their inventory and ensure that they stock the right products at the right time. This not only improves customer satisfaction by providing a convenient shopping experience but also increases sales and profitability for the store.
What is Product Assortment?
Product assortment refers to the variety of products that a store chooses to offer for sale. It’s about the selection of goods that are available for customers to buy.
In a kirana store, product assortment might include a range of items from groceries, snacks, and beverages to cleaning supplies and personal care items. The idea is to have a mix of products that meet the diverse needs and preferences of the store’s customers.
A good product assortment strategy takes into account factors such as the store’s size, location, target market demographics, and seasonal trends.
Why is Product Assortment Important for Kirana Stores?
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Meets Customer Needs: By offering a wide range of products, kirana stores can cater to the different needs of their customers. Whether it’s a last-minute need for cooking oil or a sudden craving for snacks, a well-assorted store can be a one-stop solution.
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Drives Sales: A diverse product assortment can attract more customers and encourage them to buy more. When customers find everything they need in one place, they’re likely to spend more, boosting the store’s sales.
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Competitive Advantage: In areas where multiple kirana stores operate, having a unique or extensive product assortment can set a store apart from its competitors. It can be a key factor in why a customer chooses one store over another. For example, local, organic or handmade products can play as a unique selling point for your store.
How Do Kirana Stores Decide on Their Product Assortment?
Deciding on the product assortment involves understanding the local market and customer preferences. Here are a few strategies that kirana store owners might use:
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Customer Feedback: Talking to customers and understanding their needs can provide insights into what products to stock.
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Market Trends: Keeping an eye on popular products and emerging trends can help store owners stay relevant and competitive. For example, health products and diet related food consumption has grown exponentially, so keeping these products in your store would be a plus.
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Seasonal Variations: Adjusting the product mix based on seasons or festivals can cater to changing customer demands.
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Profit Margins: Including products that offer good profit margins can also influence the assortment decision. For instance, Dark Fantasy biscuit, which is high in margin can fetch better profits as compared to Parle G. But do keep in mind that Dark Fantasy would sell less as compared to Parle G.
The Challenge of Space
One of the biggest challenges kirana stores face with product assortment is limited space. These stores must make careful choices about which products to keep in stock, as they can’t afford to waste shelf space on items that don’t sell. This requires a delicate balance between offering variety and managing inventory effectively.
Conclusion
Product assortment is a crucial aspect of the kirana store business, directly impacting customer satisfaction, sales, and competitiveness. By carefully selecting a range of products that cater to their customer’s needs, kirana stores can ensure their success in the market. While the challenge of limited space might be a problem with the extent of variety, smart assortment strategies can help these small retailers thrive in a competitive market. Understanding and implementing an effective product assortment strategy is key to the success of any kirana store.
If you need help in product assortment in your kirana store or supermarket then get in touch with Kirana Friends. You can connect with a Kirana Expert by calling or messaging us on 8010442222.
You can also download the Kirana Friends Application from the Google Play store by clicking on the link below and learn how to run your store more profitably.
