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A strategy where products are sold at a loss to attract customers, with the hope that they will make additional purchases at normal or increased prices.

Setting prices based on factors including cost, demand, competition, and perceived value to optimize profit and sales volume.

The process of establishing a brand's identity and value proposition in consumers' minds relative to competitors.

An approach to fashion merchandising that prioritizes environmentally and ethically sound practices in the creation and sale of clothing and accessories.

A recommendation system used by online retailers that suggests products to customers based on the preferences of similar users.

The practice of examining products in a physical retail store and then purchasing them online for a lower price.

A retail strategy where complementary products from different categories are displayed together to encourage additional purchases.

A visual representation or diagram that details where and how products should be placed on retail shelves or displays to maximize sales.

The buying and selling of goods and services through wireless handheld devices such as smartphones and tablets.

A merchandising strategy focusing on selecting a mix of products with varying styles, sizes, colors, and prices to meet consumer demand and maximize sales.

A budgeting plan for inventory purchases that takes into account planned sales, planned markdowns, and the desired stock levels at the start and end of the period.

The strategic reduction of prices on goods to stimulate sales, clear inventory, and make room for new stock.

Creating engaging and immersive shopping experiences in-store, often incorporating technology and interactive elements to enhance customer satisfaction.

The process of predicting upcoming fashion trends based on historical data, current events, and cultural influences to inform buying and merchandising strategies.

Encouraging customers to make spontaneous, unplanned purchases through strategic product placement and promotional tactics.

Organizing and managing products into specific categories as strategic business units, focusing on delivering customer value and achieving business results.

Involves understanding how different colors complement each other and affect consumer behavior; utilized in visual merchandising to create appealing displays.

Dividing a customer base into groups based on characteristics like age, income, or shopping habits to tailor merchandising and marketing efforts.

The practice of researching products online before going to a physical store to make the purchase, often to see the item in person or avoid shipping costs.

A merchandising approach that prioritizes the wants and needs of the consumer, often using data analytics to inform product selection and placement.

Using Radio Frequency Identification to track inventory levels, reduce shrinkage, and improve supply chain efficiency.

Using a combination of traditional retail stores, online stores, and other sales channels to reach customers and satisfy their shopping preferences.

A measure of how often inventory is sold and replaced over a given period, used to assess sales effectiveness and inventory management.

Understanding the psychological factors that influence consumers' buying decisions, including emotions, perceptions, and attitudes.

A cycle that describes the introduction, rise, peak, decline, and obsolescence of fashion trends.

A formula used to plan for inventory needs based on the expected sales volume, helping to optimize stock levels and reduce overstock or stockouts.

A strategy where a brand's products are sold only through specific retailers or channels to maintain exclusivity and brand image.

A business model where brands sell products directly to consumers, bypassing traditional retailers or intermediaries.

Creating a seamless customer experience across multiple sales channels, including brick-and-mortar stores, online, and mobile.

The practice of designing store layouts and displays to enhance the aesthetic appeal of products and influence consumer buying behavior.

Retailers develop their own brand products, as opposed to selling products from established brands, to improve profit margins and build customer loyalty.

The process of determining the proper quantity and placement of inventory for various store locations, based on sales forecasts, demographic data, and inventory levels.

Using customer data and purchasing patterns to optimize the range and quantity of sizes offered to meet demand and reduce markdowns.

Using data collected at the time and place of sale, such as customer purchases and preferences, to make informed merchandising decisions.

Temporary retail spaces that allow brands to interact with their customers in a unique environment and often serve as a marketing tool for limited-time offers.

Adjusting product pricing in real-time based on demand, market conditions, and inventory levels to maximize sales and profits.

A business model that focuses on quickly producing and cycling through trendy, affordable clothing, typically with high inventory turnover.

Setting a low price for a new product to attract customers and gain market share quickly, with the possibility of increasing prices later.

A performance measure that assesses a company's ability to turn inventory into cash above the cost of the inventory.