The longevity of your product mix matters.
Selecting the Right Mix of Products
Picking the right mix of on-the-go breakfast and lunch sandwiches, and burrito options to satisfy customers’ needs is critical to category profit. Three key factors should shape your product and brand mix.
1. Sales data – provides insight on what is selling or turning best and might uncover break-out items or categories.
2. Industry data – highlights regional and national trends so you stock these in-demand items.
3. Manufacturers – provide brand-specific insights and data on consumer needs states or trends that warrant carrying a specific item in your set.
Good, Better, Best Product Mix Captures Three Key Consumer Targets
Offering the right mix of products to reach a cross-section of consumers is important for your business. Consider a good, better and best product mix to reach multiple consumer targets and to provide variety for consumers.
Maximize Your Profit Margin
Sales data shows that following a good-better-best strategy brings increased sales and profits. You’ll capture sales with a wide variety of consumers. In addition, offer a mix of cold and hot options to further refine your mix. Some consumers in a rush prefer to grab a hot item and eat on the run. Others prefer cold options to eat later or to heat up in another location.
Our data analytics team can partner with you to determine the best product mix for your stores.