Glossary
As a business owner, setting the right price for your products is crucial for the success and profitability of your retail business.
Retail trade, a term often heard in the business world, plays a pivotal role in our everyday lives.
In the retail industry, you may have come across the acronym POS. But what does POS stand for?
Fast fashion has become a ubiquitous term in the fashion industry, referring to the rapid production, distribution, and marketing of inexpensive clothing that is quickly replaced by new collections.
Have you ever wondered what makes certain retail brands thrive while others barely survive? The secret lies in their marketing strategy.
In today’s consumer market, a concerning trend known as “shrinkflation” is on the rise. This phenomenon occurs when the size or quantity of a product is reduced while the price remains the same or even increases.
In the hustle and bustle of modern life, where stress and emotional upheaval are often just around the corner, many have turned to a unique form of self-care known as retail therapy.
In today’s competitive retail landscape, companies face the challenge of determining the optimal breadth and depth of their product line strategy.
Footfall, also known as People Counting or Traffic Counting, is a crucial metric for businesses and organizations with brick-and-mortar store locations.
Retailers both in-store and online employ various sales tactics that to some may be seen as manipulate, simply because they try to motivate shoppers to buy their products.
Specialty retail is a term that is often used in the retail industry, but many people may not fully understand what it means.
In today’s digital age, retailers are expanding their reach and diversifying their revenue streams by launching their own retail media networks.
Order lead time is a crucial metric for retailers to consider. It affects everything from inventory planning to sales and profits.
Private label products refer to products owned by a company but are not made in-house. Companies procure their products from other manufacturers or manufacturers with contracts under their labels.
When it comes to retail, there are two main options: being part of a franchise chain or operating as an independent retailer.
As a consumer, you may have encountered the term MSRP when shopping for various products. But what does it mean, and how does it impact the pricing of goods?
Markdown pricing is a necessary evil for retailers. It helps them reduce the price of products to increase sales and clear out inventory.
Retail math is a set of skills that enables managers, sales associates, and other retail employees to perform essential tasks at both the retail and manufacturer level.
Open-air shopping centers, also known as strip malls, have been gaining popularity in recent years due to the decline of traditional enclosed malls.
Customer lifetime value (CLV) is a crucial metric for businesses of any size. It provides insight into the total revenue a business can expect from a single customer account throughout the business relationship, taking into account the customer’s revenue value and the company’s predicted customer lifespan.