Boosting Product Variety in Retail Boosts Sales and Market Share
The article explores what makes stores sell a variety of products or specialize in a few. High-productivity stores tend to offer more types of products, while stores with high demand for certain items focus on selling those popular products. Investing in technology helps stores in cities increase their sales, while rural stores benefit from learning about customer demand to improve their productivity and product variety. Decreasing uncertainty in productivity and demand boosts sales and market share for stores.