Retail Terminology – Q
Q
Quarter To Date (QTD)
QTD refers to the financial performance metrics or data accumulated from the beginning of the current fiscal quarter up to the present date. It helps businesses track progress and compare performance within the ongoing quarter.
Queue Management System
A queue management system is a technology used to manage and streamline customer flow in retail environments. It helps reduce wait times, organizes service processes, and enhances the overall customer experience by efficiently handling queues.
Quality Control
Quality control is the process of ensuring that products meet specified standards and requirements. In retail, it involves inspecting goods for defects, verifying compliance with quality criteria, and addressing any issues to maintain product standards.
Quick Response (QR) Code
QR codes are matrix barcodes that store information and can be scanned using smartphones. In retail, they are used for accessing product information, promotional content, and facilitating payments, providing a seamless and interactive shopping experience.
Quantity Discount
A quantity discount is a price reduction offered to customers based on the volume of products purchased. This incentive encourages larger purchases, benefiting both retailers through increased sales and customers through cost savings.
Quiet Period
The quiet period is a stretch of time, often preceding the release of financial reports, during which a company avoids making new public statements or announcements. This practice aims to prevent influencing stock prices and ensuring compliance with regulatory requirements.
Quantity On Hand (QOH)
Quantity on hand refers to the amount of inventory currently available for sale at a specific time. Keeping accurate QOH records is crucial for inventory management, preventing stockouts, and optimizing replenishment cycles.