DECA Retail Merchandising Practice Exam

What does the term 'assortment' refer to in retail?

1. The number of merchandise categories

2. The total number of items a retailer sells

3. The number of different items offered in a merchandise category

4. The total value of inventory

The correct answer is: The number of different items offered in a merchandise category

The term 'assortment' in retail specifically refers to the range and variety of different items offered within a particular merchandise category. This means that assortment encompasses not just the types of products available, but also the breadth of choices presented to consumers, allowing them to select from various brands, styles, sizes, and features within that category. For example, in a clothing store's apparel section, the assortment would include different types of clothing items like shirts, pants, dresses, and various styles and sizes of each type. A well-planned assortment is crucial as it helps retailers cater to diverse consumer preferences and increases the likelihood of meeting customer needs, which can drive sales and enhance customer satisfaction. The other choices do not accurately capture the meaning of 'assortment' as they focus on different aspects of retailing. For instance, the number of merchandise categories pertains to the overall organization of products rather than the variety within a specific category. The total number of items a retailer sells refers to an aggregate measure, not the variation within a particular category. Lastly, the total value of inventory relates to the financial worth of the stock but does not address the diversity or range within that stock.