After location of a store the LESS IS MORE (LIM) philosophy is considered to be a basic prerequisite for a successful retail concept. This smart assortment strategy is something like a holy shrine for many large vertical players. Due to its target group oriented approach it can also bring or regain success for medium-sized retailers. LIM is one of retail brandings' core competences and a fundamental element of professional store branding.
The principle "the smaller the number of different articles in an assortment presentation - the better and higher a customer will perceive and rate quality of presentation and desirability an assortment" - as stipulated by retail branding - has proved impressively successful in practice. Formula for a successful LIM-strategy (for example for fashion) is ideally: 1 - 1,5 different articles per square meter of sales area, tolerable: 1,6 - 2,5 per square meter. With more than 2,5 different articles per square meter a brilliant quality of presentation of assortment cannot be achieved. retail branding has developed an extensive data pool with further LIM-benchmarks, providing desirable quantities for developing assortment stories, that are clearly perceived. These benchmarks help to prevent sprawling out of control assortments and will optimize the entire assortment and stock management.
The LIM-philosophy will not only motivate retailers to come to the point in their assortment profile, it also helps them in effectively and precisely creating the entire scope of decisions for strategic brand management. In a superior attitude it helps overcoming rigid competitiveness and crusted procurement structures. And last but not least LIM is an excellent basis for attractive Visual Merchandising (yet another core competence of retail branding).
more >>
