What is category management?
Category management isn't scientific. It involves a number of reasonably basic elements that help to create a retail environment that will wow your customers and can have a huge impact on business success.
Category management can be defined as, "the strategic management of products and categories which aims to maximise sales and profitability by meeting consumer needs", or more simply, the right products in the right place at the right time.
Good category management includes:
- Housekeeping
- Range
- Pricing strategy
- Promotions
- Space allocation
- Merchandising