Retail
Terms used in stores, selling and customer service.
34 terms
- After-sales service
- Support after a purchase, such as care advice, repairs, alterations and warranty handling.
- Average transaction value
- Sales value divided by the number of transactions during a period.
- Back of house
- Work areas and activities away from customers or guests, such as a stockroom, kitchen or service office.
- Back office
- Administrative and operational work that supports customer-facing activity, such as stock records, invoices and reporting.
- BOPIS
- Buy online, pick up in store: an order placed online and collected at a physical location.
- Boutique
- A specialist shop, often selling clothing, accessories or products from a particular brand.
- Cash wrap
- The store counter or area where purchases are paid for and usually wrapped or bagged.
- Client book
- A record of customers and relevant contact, preference and purchase information used to maintain relationships.
- Clienteling
- Building lasting customer relationships through personal advice, useful follow-up and knowledge of a customer's preferences.
- Concession
- A branded selling area within another retailer's premises, operated under an agreement with that retailer.
- Consultative selling
- A sales approach that starts with questions about a customer's needs before recommending a product.
- Conversion rate
- The percentage of a defined audience that completes a desired action, such as store visitors making a purchase.
- CRM
- Customer relationship management: the practices and software used to record customer information and manage contact with customers.
- Cross-selling
- Suggesting an additional product that complements the one a customer is considering or buying.
- Customer segmentation
- Grouping people by relevant characteristics or behavior to make communication and service more appropriate.
- Flagship
- A store given a prominent role in presenting a brand, often through its location, scale or product range.
- Front of house
- The areas and roles that receive and serve customers or guests directly.
- Keyholder
- A store employee authorized to open or close the premises and carry out the associated security procedures.
- Loss prevention
- Measures to reduce theft, fraud, damage and other losses involving stock, money or property.
- Net Promoter Score
- A customer feedback measure based on how likely people are to recommend an organization.
- Omnichannel
- Coordinating stores, websites and other sales channels so customers can move between them during a purchase or service request.
- Order fulfillment
- The work of preparing and delivering a customer order, from picking stock to dispatch or collection.
- Replenishment
- Replacing stock that has been sold or used so the required quantity remains available.
- Shrinkage
- The gap between recorded inventory and stock actually available, caused by factors such as theft, damage or recording errors.
- Social selling
- Using social networks to build customer relationships and support sales conversations.
- Stocktaking
- Physically counting stock and checking it against inventory records.
- Travel retail
- Sales to travelers in locations such as airports; duty-free is a related tax treatment that applies only where conditions are met.
- Units per transaction
- The average number of items sold in each transaction.
- Upselling
- Encouraging a customer to choose a higher-priced version, upgrade or option.
- VIC
- Very important client: a customer category used by some houses for a high level of personal service; each house sets its own criteria.
- Virtual selling
- Advising and selling to customers remotely through video, messaging or other digital contact.
- Visual merchandising
- Arranging products, displays and store spaces to communicate a collection and help customers shop.