ANALYSIS OF RETAIL PRODUCT RANGE

Keywords: product range, ABC analysis, analysis of the product range, profit, turnover

Abstract

Product range analysis is an integral part of the functioning of any modern enterprise, and at the same time one of the most difficult tasks. In order to withstand market competition, companies must form such a product range that would meet the needs of consumers and be as profitable as possible for the company itself. One of the main factors of successful operation and development of the enterprise is the optimal product range in its structure. The use in modern conditions of traditional approaches to the analysis of the product range leads in practice to the formation of insufficiently realistic plans, which reduces their role in the management process. The purpose of the article is to evaluate the product range of retail. To achieve this goal, the method of ABC analysis was used. The article is devoted to the study of the product range of retail. As a result of the ABC analysis, three groups of goods were identified: group A – very important goods, group B – goods of medium importance and group C – the least important goods. Analysis of the range of LLC "Prostor" on the contribution of product groups in turnover and profit showed the following groups of products: group AA – make-up, perfumes for women, niche perfumes, perfumes for men, hair care products; groups AB and VA – home care products, fragrances, perfumed candles, atomizers, varnishes, gels, nail bases; group BB – tools for manicure and pedicure, cream, balms and face masks, aromatic water, spray, sun protection, lip care products; group VS – shaving products for men; SS group – cosmetic brushes, jewelry, fragrances for the home, special tools, hygiene and care, bath and sauna, bags, cosmetics, tools for manicure and pedicure. The company expands its product range by producing goods under its own brand. The practical value of the article is to identify those products in the range of products that bring retail the most profit. Goods such as make-up, perfumes, face and body care products, hair care products, etc. should always be available to meet the needs of consumers. Analysis of product categories contributes to a significant increase in sales and, consequently, the growth of profits of the retail enterprise. The main factor of success is a deep and perfect analysis, which allows you to find methods to optimize the range.

References

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Published
2021-03-30
How to Cite
Dronova, T. (2021). ANALYSIS OF RETAIL PRODUCT RANGE. Economy and Society, (25). https://doi.org/10.32782/2524-0072/2021-25-11
Section
MARKETING