What does the mass merchandising concept encourage retailers to do?

The mass merchandising concept encourages retailers to offer low prices for faster turnover. This approach is based on the idea that by providing a wide variety of items at lower prices, retailers can attract a larger volume of customers who are motivated by savings. With a strategy focused on high sales volume, retailers are able to turn over inventory quickly, maintaining a steady flow of products and maximizing overall profits. This is particularly effective in markets where consumers prioritize cost and convenience over personalized service or product exclusivity.

When retailers adopt the mass merchandising strategy, they typically stock a large assortment of goods that appeal to the general public, rather than targeting specific niche markets or offering products at premium prices. Consequently, the approach relies on achieving economies of scale, which helps in maintaining lower prices and accelerating inventory turnover.