DEFINITION of 'Wide Variety'
A merchandising strategy in which a retailer stocks a large number of different products. A wide variety is used to draw in customers looking for an array of goods, but does not mean that the retailer will offer many different iterations of a specific product. For example, a convenience store may offer a wide variety of products, but a limited number of choices within a particular product range.
BREAKING DOWN 'Wide Variety'
Carrying a wide variety of products can limit the space available for a deeper assortment of particular products. While offering a number of products instead of focusing on a few, it does expose a retailer to the risk that consumers will go to more specialized retailers with more selection of a specific type of product (a super-specialist). Some types of businesses, such as supermarkets, are able to offer a deep assortment of a product (e.g. cereal) while at the same time offering a wide variety of products.
Wide variety is the opposite of narrow variety.