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The presentation of a store and its merchandise in ways that attract customers and encourage sales. Key in retail to create an engaging shopping environment and showcase the merchandise effectively.

The value a brand adds to its products or services. In retail, strong brand equity can attract more customers, justify premium prices, and ensure customer loyalty.

Strategies and tools used by retailers to analyze customer interactions and data to improve business relationships. CRM is key in retaining customers and driving sales growth.

A unique identifier for each product or service that can be purchased. In retail and merchandising, SKUs are crucial for tracking inventory levels, sales analysis, and reordering.

The process of selecting the range of products to sell in-store. Crucial for retail success as it ensures offering the right mix of products that meet customer demands and preferences.

Advertising materials or displays located in high-traffic areas. POP Displays are important in merchandising for drawing customer attention and promoting impulse buying.

A pricing strategy where a product is sold at a loss to attract customers. In retail, it's important for driving traffic and stimulating sales of more profitable items.

The loss of products between manufacturing and point of sale. In retail, it includes loss through theft, damage, and errors, and it's vital to minimize it to protect profits.

A budgeting plan for inventory purchases that keeps merchandise fresh and customer preferences in mind. OTB is important in retail to avoid stock-outs and over-provisioning, thus improving cash flow.

A term used to describe clothing collections that move quickly from runway to store to capture current fashion trends. In merchandising, it's important for meeting consumer demand for the latest styles at an affordable price.

The stages a product goes through from introduction to decline. Understanding the product life cycle in retail is important for timing market entry, marketing strategies, and clearance of inventory.

The study of consumer's lifestyle, interests, and opinions. In retail, psychographic data helps in creating targeted marketing efforts and product development that align with consumer values.

The process of reducing prices to move inventory, stimulate sales, and make room for new stock. In retail, it's important for maintaining profitability and a fresh merchandise mix.

Statistics about the characteristics of a population of consumers. In retail, demographic data is used to tailor product offerings and marketing strategies to specific customer groups.

A multichannel sales approach that provides customers with a seamless shopping experience whether they shop online or in a brick-and-mortar store. Vital for retailers to meet consumer expectations and enhance loyalty.

The percentage of merchandise sold compared to the amount available. This metric helps retailers in making decisions about markdowns, promotions, and inventory reorders.

The process of dividing a broad consumer market into sub-groups with similar needs. It's important in retail for targeting marketing efforts and optimizing product assortments.

The number of customers entering a store. It is a key indicator in retail as higher foot traffic can lead to more opportunities for sales and customer engagement.

A measure of how many times inventory is sold and replaced in a period. A high turnover indicates strong sales and efficient buying in retail and merchandising.