Steps to Assign Category Roles
START
INTRODUCTION
Role assignment is focused on prioritizing asset allocation by category, so the process requires a comparison among categories.
A retailer's leadership team will compare categories on a number of metrics to decide which categories should receive the highest priority.
high-level steps for prioritizing asset allocation by category
Step
Step
Step
Assignment
Allocation
Assessment
Assessment
To assign roles at a macro level, retailers should look at key data measures that are important to their business.
They can apply a weighting across these variables to produce a total weighted importance for each category.
Allocation
After completing their assessment, retailers allocate a certain percentage of categories to each role.
Click the hotspots to see example percentages.
Assignment
Finally, the category is assigned a role. At this stage the retailer should also compare role assignments with their overall retail strategy, to make sure there is alignment.
As just a simplified, extreme example, a retailer looking to be the low-priced leader in the market should not have high-end categories like jewelry or luxury handbags assigned to the Destination role.
Done!
Sabir: Category Roles: Steps to Assign Roles
Michael Henry
Created on May 1, 2023
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Transcript
Steps to Assign Category Roles
START
INTRODUCTION
Role assignment is focused on prioritizing asset allocation by category, so the process requires a comparison among categories.
A retailer's leadership team will compare categories on a number of metrics to decide which categories should receive the highest priority.
high-level steps for prioritizing asset allocation by category
Step
Step
Step
Assignment
Allocation
Assessment
Assessment
To assign roles at a macro level, retailers should look at key data measures that are important to their business.
They can apply a weighting across these variables to produce a total weighted importance for each category.
Allocation
After completing their assessment, retailers allocate a certain percentage of categories to each role.
Click the hotspots to see example percentages.
Assignment
Finally, the category is assigned a role. At this stage the retailer should also compare role assignments with their overall retail strategy, to make sure there is alignment.
As just a simplified, extreme example, a retailer looking to be the low-priced leader in the market should not have high-end categories like jewelry or luxury handbags assigned to the Destination role.
Done!