Which step in the retail product cycle comes first?

The first step in the retail product cycle is selection. This stage involves determining which products to offer to customers based on various factors such as market trends, customer preferences, and sales data. During selection, retailers assess potential products and curate a range that aligns with their brand and target audience. This careful selection process is vital as it sets the foundation for the subsequent stages of the retail product cycle.

The selection of products influences inventory management, promotional strategies, and ultimately impacts sales performance. Without proper selection, the allocation, distribution, and markdown processes cannot be effectively implemented, as there would be no clear direction on what items need to be stocked or how to market them.

Other stages such as allocation, distribution, and markdowns come later in the cycle and rely on the initial selection to determine what products are relevant to customers and should be showcased in stores or online platforms.