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The process of promoting the sale of products by producing mental images that urge potential customers to make purchases.

A strategic approach to maintaining the right mix of merchandise, to meet the customers' demands, in terms of variety, volume, and sizes.

A budget management plan that calculates the amount to spend on merchandise, taking into account current inventory and sales forecasts.

A systematic way of organizing and classifying products within a retail store, which helps in managing inventories and simplifies customers shopping experience.

A unique identifier for each product and service that can be purchased, which allows retailers to track inventory levels and sales systematically.

A measure of how many times inventory is sold and replaced over a particular period, indicating the efficiency of inventory management.

A reduction in the original selling price of merchandise to increase the rate of sale for products that are not selling according to plan.

A metric to analyze the amount of inventory sold in a month versus how much inventory was available at the beginning of the month.

A visual representation or diagram that details where every product should be placed in a retail store to maximize sales.

A retail practice where complementary products are displayed or grouped together in an effort to increase the purchase of multiple items.

A calculation used to determine the profitability of inventory. It is the ratio of gross margin to the average inventory invested.

A business model focused on rapidly producing high volumes of clothing based on the most recent fashion trends seen on the runway.

Products that are manufactured by one company but sold under another company's brand, typically exclusive to one retailer.

The process of predicting upcoming fashion trends based on past and present style-related information.

A system where retail transactions are completed. It is the point at which a customer makes the payment for goods or services.

A retail fulfillment method where a 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.

A multichannel approach to sales that seeks to provide customers with a seamless shopping experience, whether they are shopping online or in a brick-and-mortar store.

A retail merchandising strategy that involves stocking a variety of sizes in a proportion that meets customer demand for each size.

The loss of inventory that can be attributed to factors like employee theft, shoplifting, administrative errors, and supplier fraud.