Retailers succeeding in effective ranging consider their demographic and their shoppers’ budgets and tailor their range accordingly.
They understand shopper habits by analysing sales data to identify slow and bestsellers. With a core range in place, they can then source new products and find a niche to become a destination store.
Before benchmarking, find out how Heidi Vossen-Barnes from Coca-Cola European Partners (CCEP) helped Vasanti Jesani hone her ranging.
She re-entered the family-owned store full-time last year and has built up a strong core range and a ‘family-like atmosphere’ that has helped her gain and retain customers during the pandemic.
How can Heidi from CCEP and the IAA help Vasanti improve her range to better cater for her shoppers, and improve sales?
Why I take part
“There’s always an opportunity to improve your store, whether it’s delisting products or finding something unique that works for you.
“I want to learn, and offer the right range to my shoppers.
“Meeting Heidi from CCEP was great and I’ve discovered simple ways to improve my range.
“The visit today was insightful and I’m excited to implement the action plan and see the positive changes they make in store.”
Analysing sales data and deciding when to delist
Vasanti uses her sales data to identify slow sellers, and delists them to make space for new products before trialling other factors to improve sales.
How can she ensure she’s making the right choice and not delisting the wrong product?
Heidi says: “It’s important to determine why a product isn’t selling, because a lot of factors need to be considered before it’s delisted.
“Analysing sales data is great, but before delisting, trial the product in a new position, or review your pricing to ensure it’s the product that’s not working.
ACTION: Review range and trial slow sellers in different locations before delisting.
Identifying new and niche products to stock
Vasanti has spent time building her range, with a focus on alcohol. She wants to branch out to introduce local and niche products to expand her range and increase margin.
Where can Vasanti source new local products?
Heidi says: “Having a core range is vital for retailers, but to become a destination store for shoppers, retailers need to offer a niche range as well.
“Local products are great for making your offer unique, and shows your support for local businesses. Visiting local food fairs, or using local hashtags on social media can help you to build relationships and offer a different range to your competitors.”
ACTION: Source new local suppliers by visiting food markets and using social media location hashtags.
Understanding your best and worst sellers
Vasanti uses category reports from her till to work out which products to delist, but she doesn’t use it to identify her bestsellers.
How can she use this report to help her decide which new products are likely to perform well?
Heidi says: “Category reports can help retailers understand their range, and identify bestsellers, and slow sellers.
“By doing this regularly, retailers can discover which products are likely to perform well in store, or implement crosscategory promotions using a mix of best and slowsellers, such as around a ‘big night in’ theme to encourage shoppers to purchase these products.”
ACTION: Review bestsellers and use this data to help drive cross-category sales and make decisions on new lines to stock.
Vasanti’s main priority is her customers. Effective ranging is key to driving footfall and finding your niche.
When Vasanti implements the advice we’ve given, she has the opportunity to increase sales and become a destination store for her customers.
Convenience & wholesale senior manager
Coca-Cola European Partners
To find out how Vasanti got on following her visit from Heidi Vossen-Barnes, click here.