1. The document defines various retail terminology used in promotions, inventory management, transactions, and store operations. It includes terms like threshold promotions, markups, clearances, purchase orders, replenishment, and more.
2. Various retail metrics and strategies are also defined, such as conversion rate, inventory turnover, merchandise mix, plan-o-grams, suggestive selling, and visual merchandising.
3. Additional modern retail concepts are covered like mobile shopping, flash sales, pop-up stores, etailing, and integrating physical and online store operations.
Details about Merchandise management and product decisions related with. It is a part of Retail Marketing. Interested people can gather knowledge from this PPT
Details about Merchandise management and product decisions related with. It is a part of Retail Marketing. Interested people can gather knowledge from this PPT
Retail Management Notes, Basics of Retail Management, Classification of Retailers, Types of Retailers, Scope of Retailing, Functions of Retailers, Role of Retailers in Distribution Channel, Indian retailscape, organized and Unorganized Retailers,
This presentation will take you through concept of personal selling, essentials of personal selling and its importance. It also include qualities required for a sales person involved in personal selling.
1. Product
Retailers must have the right assortment of products and sell them in a manner compatible with their marketing view retailers must decide on the number of assortments in the store and the number of products in each range. In addition, they must select the quality of the articles within each category, decide on pricing policy. Finally, retailers must determine if the assortments should generally be stable over time
2. Price
A price strategy should reflect the company's own objectives and be related to the sales and profit. The goals to be achieved can be established as income and/ or volume units.
a) Market penetration pricing strategy is used when the retailer wishes to acquire revenue by setting a low price and selling a large number of product units.
b) High price strategy is used by the company to attract customers who are not concerned about the price, but the service and prestige. Usually the strategy does not maximize sales, but brings great profit per unit.
c) Cost-oriented pricing strategy The retailer sets the price, adding the operating expenses and desired profit to the cost per unit. The difference between the merchandise cost and the selling price is the trade margin. With a variable margin policy, retailers adjust the margins on merchandise categories.
d) The strategy of prices adjustment to market conditions The retailer may adjust prices according to the demand or market segment. The best example of adapting the retailer prices from Romania to the market demand are represented by some food prices (oil, sugar, flour) and durable goods prices (electronics, appliances, cars) in 2008.
e) Competition-oriented price strategy A retailer can use competition prices as guide. A company may not modify prices if there have been changes in demand or costs, if they are not modified by competition. Similarly, a firm may change its prices if the competition changes them, even if there have not been changes in demand or costs.
3. Place
Some specialists substituted in the literature the term "distribution channel" with "marketing channel” This change aims to emphasize the role of intermediaries in the distribution process, to create value for users or consumers, adding the utility of form, possession, time and place. In addition, the role of marketing channels is not only to participate in demand satisfaction by offering goods and services, but it also requires active participation to stimulate demand through information, creating proximity and promotion developed by members of the economic units network that form the channel. The product must be available at the right place (Product category), at the right time (time you sell your product), and in the right quantity (enough stock).
4. Promotion
Some specialists considers that the role of the promotion policy in the retail business is to attract potential consumers (creating traffic in store) to convert visitors into consumers and to retain buye
Retailing is the act of selling products or services to people for their personal, non business use. A retailer is a business that specializes in the act of retailing primarily.
Retailing includes all the activities involved in selling goods or services directly to final customers for their personal, non business use. A retailer is any business enterprise whose sales volume comes primarily from retailing.
Retail Marketing and Advertising
Retail Marketing Strategies;
Strategic Positioning;
Retail marketing mix;
Customer relationship management;
Direct marketing;
Micro marketing in retailing, and
Advertising in retailing.
Retail Management Notes, Basics of Retail Management, Classification of Retailers, Types of Retailers, Scope of Retailing, Functions of Retailers, Role of Retailers in Distribution Channel, Indian retailscape, organized and Unorganized Retailers,
This presentation will take you through concept of personal selling, essentials of personal selling and its importance. It also include qualities required for a sales person involved in personal selling.
1. Product
Retailers must have the right assortment of products and sell them in a manner compatible with their marketing view retailers must decide on the number of assortments in the store and the number of products in each range. In addition, they must select the quality of the articles within each category, decide on pricing policy. Finally, retailers must determine if the assortments should generally be stable over time
2. Price
A price strategy should reflect the company's own objectives and be related to the sales and profit. The goals to be achieved can be established as income and/ or volume units.
a) Market penetration pricing strategy is used when the retailer wishes to acquire revenue by setting a low price and selling a large number of product units.
b) High price strategy is used by the company to attract customers who are not concerned about the price, but the service and prestige. Usually the strategy does not maximize sales, but brings great profit per unit.
c) Cost-oriented pricing strategy The retailer sets the price, adding the operating expenses and desired profit to the cost per unit. The difference between the merchandise cost and the selling price is the trade margin. With a variable margin policy, retailers adjust the margins on merchandise categories.
d) The strategy of prices adjustment to market conditions The retailer may adjust prices according to the demand or market segment. The best example of adapting the retailer prices from Romania to the market demand are represented by some food prices (oil, sugar, flour) and durable goods prices (electronics, appliances, cars) in 2008.
e) Competition-oriented price strategy A retailer can use competition prices as guide. A company may not modify prices if there have been changes in demand or costs, if they are not modified by competition. Similarly, a firm may change its prices if the competition changes them, even if there have not been changes in demand or costs.
3. Place
Some specialists substituted in the literature the term "distribution channel" with "marketing channel” This change aims to emphasize the role of intermediaries in the distribution process, to create value for users or consumers, adding the utility of form, possession, time and place. In addition, the role of marketing channels is not only to participate in demand satisfaction by offering goods and services, but it also requires active participation to stimulate demand through information, creating proximity and promotion developed by members of the economic units network that form the channel. The product must be available at the right place (Product category), at the right time (time you sell your product), and in the right quantity (enough stock).
4. Promotion
Some specialists considers that the role of the promotion policy in the retail business is to attract potential consumers (creating traffic in store) to convert visitors into consumers and to retain buye
Retailing is the act of selling products or services to people for their personal, non business use. A retailer is a business that specializes in the act of retailing primarily.
Retailing includes all the activities involved in selling goods or services directly to final customers for their personal, non business use. A retailer is any business enterprise whose sales volume comes primarily from retailing.
Retail Marketing and Advertising
Retail Marketing Strategies;
Strategic Positioning;
Retail marketing mix;
Customer relationship management;
Direct marketing;
Micro marketing in retailing, and
Advertising in retailing.
After viewing this project one can understand how a FMCG company operates its finances. The ratio analysis of the firm showing how to calculate the profitability, sustainability, viability of a firm to operate its day to day business in a profitable zone.
If you are planning to start an online fashion business, you must be planning for a lot of things – business modelling, development of the business plan, technology, manpower, suppliers, etc. And if you have not already, include SOP-based operations planning in your list.
A Business Plan can be defined as any document which identifies, describes, and analyses the techno-economic and financial feasibility of a startup or an already existing business.
, Your Retail Coach (YRC) is working with retail businesses to set up dark stores across the region to further optimize their supply chain and operations, as the world steps into the next normal.
Your Retail Coach (YRC) assists retail businesses in managing their supply chain via retail management consulting services in warehouse management, procurement, inventory management, dispatch and team management riding on proven models of logistics and use of technology across every process, making it system-dependent and less person-dependent
YRC_Blog_How to Make a Buisness Plan_12-07-2022 (1).pptxYour Retail Coach
YRC’s Business Plan writing services believe in hand-holding and guiding you at each crucial juncture, adhering to a focused process-oriented approach to enable you to carve your own success story.
YRC_blog_Are you in your business or is your business running you (4).pptxYour Retail Coach
YRC is an experienced management consulting firm that offers consulting expertise and knowledge in the various types of businesses . Can assist with every aspect of any business.Improve your chances of succeeding in the online competitive market.
How to Start a Jewellery E-Commerce Brand 22-05-22.pptxYour Retail Coach
YRC is an experienced management consulting firm that offers consulting expertise and knowledge in the jewellery industry.
Can assist with every aspect of an ecommerce jewellery business
Improve your chances of succeeding in the online competitive market.
FMCG, GROCERY BUSINESS CONSULTING – SOP FORMULATIONYour Retail Coach
Standard Operating Procedures (SOPs) are not just a set of instructions that describe how to follow industry standards, SOPs will make sure that you have an organized quality system and processes in place, qualified employees so that everything is performed in a predictable and consistent manner.
A comprehensive guide to doing the market research for your E-Commerce StartupYour Retail Coach
The process of discovering more about the target market and evaluating the prospects and feasibility of a new product or service is known as market research.
The dark stores are traditional retail stores or supermarkets that have been transformed into e commerce warehouses or local fulfillment or distribution centers
The future of grocery retailing, dark stores are traditional retail stores or supermarkets that have been transformed into e commerce warehouses or local fulfillment or distribution centers.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
2. Threshold Promotion
-Provide 5% discount on purchase of item(s)
having cost greater than $2000/-
Multi Buy Promotion
-Buy 2 Get 1 Free
Mix & Match Promotion
-A comb free on purchase of a shampoo and a
oil
Simple Promotion
-Festival Offer
Assortment
-Determination of placing of goods
Promotion
-Attempt to increase the sale of any particular product
-Types
Page: 01
Retail Terminologies
3. Markdowns
-Reductions from original selling price
Markups
-Extra amount charged for an item above what the
retailer paid the supplier
Clearance
-Final sale of an item or items to zero inventory
Intercompany Transaction
-Transaction between two companies
Page: 02
Retail Terminologies
4. Purchase Order
Commercial document and official offer issued by a
retailer to a supplier, indicating types, quantities, and
agreed prices for products/services
Contract
Acceptance of a purchase order(requested by a
retailer) by a supplier
Invoice
Commercial document issued by the supplier to the
retailer regarding the sale transaction and indication
of products, quantities, and agreed prices of the
products/services
Replenishment
Process of filling up the stock whenever the
inventory goes below the minimum level, in order
to avoid stock-out
Page: 03
Retail Terminologies
5. POS
Point of Sale. It is the area where a customer
completes a transaction, such as a checkout counter.
Store Fascade
A storefront or shopfront is the facade or entryway of
a retail store located on the ground floor or street
level of a commercial building, typically including one
or more display windows. A storefront functions to
attract visual attention to a business and its
merchandise
In Store Branding
Sales promotion at a retailer's location, bundled with
offers, expert advice, product demonstrations, product
samples, special discounts, etc. Also called in-store
promotion.
Page: 04
Retail Terminologies
6. Stock Clearance
-Reduction to zero inventory
Intercompany
-Sales for the company’s employees
EOSS
-End of Season Sale
BOGO
-Buy One Get One
Regular
-Normal Sales
Promotional
-Provide offer/ discount on sales
Page: 05
Retail Sale Terminologies
7. Credit Memo
Document issued by the supplier to the buyer
reducing the amount that the buyer owes to the
supplier under terms of an earlier invoice
Debit Memo
Notification from buyer to the supplier that tells the
supplier that a debit/payment was made in the
supplier’s account
Page: 06
Retail Transaction Terminologies
8. Audit
The formal process of examining how your store
performed in relation to plan. All too often, management
completes programs but does not review how things
went and where improvements can be made for the
future.
Campaign
Planned advertising schedule of specific length –
usually up to 13 weeks in length.
Classification (Sub Classification) / Category
(Sub Category)
further breakdown of a classification into a more
specific group of items, e.g., men’s short sleeve dress
shirts is a sub classification of the main classification
of men’s dress shirts.
Conversion Rate
The number of people who enter a store divided
into the number who made a purchase. Measures
the “close” rate that a store achieves on specific
foot traffic into the store.
Page: 07
Retail Terminologies
9. Cost of Goods Sold
The price paid for the product, plus any additional costs
necessary to get the merchandise into inventory and
ready for sale, including shipping and handling.
CRM- Customer Relationship Management
Customer relationship management (CRM) is a
business strategy designed to reduce costs and
increase profitability by strengthening customer
loyalty.
EAN
The European Article Number which is replacing the
North American UPC code. The EAN has thirteen numbers,
with one being placed the leading left outside the bar
code. The next six numbers are assigned to the
manufacturer and the remaining six are for product
identification.
Gondola
Primary merchandising fixture consisting of a base,
free-standing vertical wall, and a number of four of
sections of shelving
Page: 08
Retail Terminologies
10. Items Per Transaction
Often referred to as “lines per ticket.” A measure of how
many items are contained in the average transaction with
each customer. The formula is total items sold for the
day, week or month, divided by the number of
transactions in the day, week or month.
Inventory Turnover
The number of times during a given period that the
average inventory on hand is sold and replaced
Merchandise Mix
A merchandise mix is the breadth and depth of the
products carried by retailers. Also known as product.
Operating Expenses
The sum of all expenses associated with the normal
course of running a business.
Outpost Display
A secondary display – placed outside the
department. e.g., at doorways or high traffic areas
Page: 09
Retail Terminologies
11. Plan-O-Gram
A detailed plan of floor, wall and fixture layout. It requires
a mapping of what items go where for each square foot
or product frontage of shelf pace, wall, or hanging rack.
Particular emphasis is put on placing the most profitable
products in an advantageous purchasing position.
Radio Frequency Identification (RFID)
Method for embedded tag to communicate SKU and
other information from a product to a receiver.
Currently being used at the pallet level for receiving,
slow adoption at the Point of Sale due to both cost
and some technical issues.
Segment (Consumer or Market)
A single part of the market, separable from the rest of the
market. It can be clearly identified as being different by a
set of distinct and common characteristics such as
demographics, lifestyle, geographic location, or buying
habits.
Shrinkage
(inventor Shrink) Retail shrinkage is a reduction or
loss in inventory due to shoplifting, employee theft,
paperwork errors and supplier fraud.
Page: 10
Retail Terminologies
12. SKU- Stock-keeping unit
The finest identification of a specific item either by itself or
in a range.i.e., one basic shoe style requires approximately
30 different SKUs which are the combination of the range
of sizes multiplied by the range of widths stocked. This is
increased by 100% each time a color is added in the full
size and width range.
Suggestive Selling
Suggesting the purchase of related items in addition
to the original purchases, like a tie with a shirt, blouse
with skirt, hats with jackets and so on.
Target Market
The group of consumers to whom you are directing your
business concept.
USP- Unique Selling Proposition
What is special about your store and how your
store stands out from your competition.
Page: 11
Retail Terminologies
13. Visual Merchandising
Visual merchandising is the art of implementing effective
design ideas to increase in-store traffic and sales volume.
Volume
Suggesting the purchase of related items in addition
to the original purchases, like a tie with a shirt, blouse
with skirt, hats with jackets and so on.
Censormatic Machine
Censor Tags
Racks/ Shelves
Page: 12
Retail Terminologies
14. Relationship Retailing
This is a strategy that businesses implement build loyalty
and forge long-term relationships with the customers.
Relationship retailing can come in the form of loyalty
programs, personalised experiences or excellent customer
service
Product Life cycle
This term is used to describe the series of stages that
each commercial product goes through when it hits the
market. These stages include introduction, growth in
sales revenue, maturity and decline
Pop-Up Stores
These are short term stores or sales spaces that come
and go within a given period of time. Eg: Mall booths, in
Parks, retail spaces etc.
Page: 13
Retail Terminologies
15. Mobile Shopping
A practice of purchasing good via mobile phones.
Flash Sales
Sale events that take place for a limited period of time.
Mystery Shopping
This is an activity practised by market research
companies, watchdog groups & retailers themselves to
evaluate product/quality and service. The mystery
shopper acts like regular customer, then provides
feedback and reports detailing their experience with
the retailer.
High Speed Retail
High speed retail is all about making the customer’s
shopping experience quicker. Eg: drive-through grocery
stores, food trucks etc.
Page: 14
Retail Terminologies
16. Etailing
It’s a short form of “Electronic Retailing”. It Is the practice
of selling goods over the internet
Flash Sales
This term refers to retailers that integrate their brick and
mortar stores with their ecommerce site. They bring the
best of both the worlds. Most companies offer seamless
web to store services such as in store pick-up & return.
Dead Stock
Dead Stock/ Inventory pertains to stock that has never
been sold or has been in the inventory for a while
Cross Merchandising
This refers to the practise of displaying or putting
together products from different categories to drive add-
on sales.
Page: 15
Retail Terminologies