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A retail fulfillment method where the store doesn't keep the products it sells in stock. Instead, when a store sells a product, it purchases the item from a third party and has it shipped directly to the customer. Example: Many online retailers use drop shipping to offer a wide range of products without holding inventory.

The merchandise that was never sold to or used by customers before being removed from sale, usually because it is out of date. Example: Unsold seasonal decorations often become deadstock after the holiday passes.

A display for merchandise placed at the end of an aisle in a store. It is often used for promotional or seasonal products. Example: Supermarkets typically use endcaps to display special offers or holiday items.

The sale of goods in large quantities at a low price, typically to be sold on by retailers at a profit. Example: A boutique might buy clothing wholesale from a distributor and then sell it at a higher retail price.

The reduction in inventory due to shoplifting, employee theft, paperwork errors, or supplier fraud. Example: Retailers might say they had a 2% shrinkage rate last quarter, indicating loss of inventory.

A reduction in the selling price of goods to increase demand and clear out inventory. Example: Seasonal sales often result in markdowns to make room for new stock.

A multichannel approach to sales that seeks to provide a seamless customer experience whether the client is shopping online from a desktop or mobile device, by telephone, or in a brick-and-mortar store. Example: Offering in-store pickup for online orders is an aspect of omnichannel retailing.

A major retail store used to drive business to smaller retailers; typically a large department or chain store. Example: In many malls, stores like Macy's or Nordstrom serve as anchor stores.

Stock Keeping Unit, a unique identifier for each product for inventory management purposes. Example: A pair of jeans might have an SKU of '123-456-789'.

The amount of money a retailer has left for buying inventory in a certain period after considering the planned sales, inventory levels, and receipts. Example: After sales projections, a retailer may have $50,000 open-to-buy for the next quarter.$

The practice of displaying products to highlight their features and benefits, aiming to attract customers and increase sales. Example: Mannequin displays in store windows are a form of visual merchandising.

The process where retailers determine what products are going to be offered in what quantities, and at what times in the season, taking into account fashion trends, customer demand, and previous sales. Example: Before a new season, retailers plan the range of clothes they will offer.

The selling of retail goods on the Internet. Short for 'electronic retailing,' and used in the context of e-commerce. Example: Amazon is one of the largest e-tailing companies in the world.

Buy Online, Pick-up In Store is a strategy that allows customers to shop and make purchases online, and then pick up the merchandise in the retail store. Example: Many hardware stores use BOPIS, allowing customers to order items online and collect them at the customer service desk.

A product sold at a low price (at cost or below cost) to stimulate other profitable sales. Example: A supermarket might sell milk at a very low price to draw customers in, hoping they'll purchase other items with higher margins.

A design, manufacturing, and marketing method focused on rapidly producing high volumes of clothing. Fast fashion garment collections are based on the most recent fashion trends presented at Fashion Week in both the spring and the fall of every year. Example: Brands like Zara and H&M are well-known for their fast fashion models.

A temporary retail event that helps brands or retailers create a unique environment that engages their customers, as well as generates a feeling of relevance and interactivity. Example: A seasonal Halloween store that opens in various vacant retail spaces during September and October is a pop-up shop.

The percentage of merchandise sold versus the amount that was available to be sold. Example: If a store had 100 items and sold 80, the sell-through rate is 80%.

The process of predicting the future trends in fashion based on past and present style, and considering various fashion influences like cinema, celebrities, climate, and political or social movements. Example: Fashion forecasting might predict the colors that will be popular for a coming season.

The rate at which inventory is sold and replaced over a given period. Example: A high turnover indicates good sales, while low turnover may signify poor sales or overstocking.

Products that are manufactured by one company for sale under another company's brand. Example: Many supermarkets have their own private label goods competing with national brands.

The time and place where a retail transaction is completed. It's at the POS that the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer, and indicates the options for the customer to make the payment. Example: The checkout counter is equipped with a POS system.

The number of people entering a store within a given time frame. Example: A marketing campaign can be considered successful if there's a noticeable increase in footfall.

Radio Frequency Identification, a technology used to identify and track items using radio waves. Example: RFID tags are often used in retail for tracking high-value goods and reducing shrinkage.

A business model where companies sell products directly to consumers, bypassing any third-party retailers, wholesalers, or any other middlemen. Example: Many mattress companies now sell their products D2C using online platforms.

The difference between the cost of goods sold and the revenue from sales, expressed as a percentage of revenue. Example: If an item costs $30 and sells for$50, the gross margin is 40%.

A diagram that shows how and where specific retail products should be placed on retail shelves or displays to increase customer purchases. Example: Planograms are used to direct the arrangement of products in a store during a reset.

Also known as 'same-store sales,' this is a retail financial indicator measuring the sales performance of the same stores over a specific period. Example: A 5% increase in comp store sales suggests that the stores are performing better than in the previous period.