Assam ASSEB HSLC NSQF Retail Trade cheat sheet

Retail is the sale of goods or services directly to the final consumer for personal, non-business use; it is the last link in the distribution chain.

Channel types: store-based retail, non-store retail (e-commerce, catalogue, direct selling, vending), and omni-channel retail that combines both.

Retail formats by ownership: independent store, chain/multiple, franchise, cooperative, and government-run outlets such as fair-price shops.

Ecosystem members: manufacturer, distributor/wholesaler, retailer, logistics provider, payment gateway, and consumer; each adds cost and value.

Functions performed by retailers: assortment building, breaking bulk, holding stock, providing credit, after-sales service, and market information feedback.

Retail in India: organised retail (licensed, taxed, formal employment) versus unorganised retail (kirana stores, street vendors, weekly haats).

FDI policy note: single-brand retail permits up to 100% foreign investment; multi-brand retail is restricted, so most Indian chains are domestically owned.

Careers in retail: sales associate, cashier, visual merchandiser, stock assistant, store manager, and retail entrepreneur.

Service quality dimensions: reliability, responsiveness, assurance, empathy, and tangibles; reliability is usually rated most important by customers.

Greeting sequence: acknowledge within 30 seconds, ask open questions to find need, present matching options, confirm choice, close the sale.

Open questions begin with what/how/which and gather information; closed questions begin with do/is/can and confirm decisions.

Feature versus benefit: a feature is what the product has (e.g., 5 MP camera); a benefit is what the customer gains from it (clear photos).

Complaint handling steps: listen without interrupting, apologise for the experience, resolve or escalate, record the case, follow up.

Customer lifetime value (CLV) = average purchase value x purchase frequency x retention period; used to justify spending on service.

Moments of truth are every point where the customer meets the brand - entry, browsing, trial, billing, and exit - and each affects satisfaction.

Cross-selling offers a related product (shoe polish with shoes); up-selling offers a higher-value version of the chosen product.

Assortment breadth = number of product categories stocked; depth = number of variants (size, colour, brand) within one category.

Planogram is a diagram showing exactly where each SKU is placed on a fixture; it standardises display across stores.

Facing (fronting) means pulling products to the front edge of the shelf so labels are visible and the shelf looks full.

Stock turn rate = cost of goods sold / average inventory at cost; higher turnover means faster-selling merchandise.

Sell-through % = units sold / units received x 100; a low sell-through signals the item needs markdown or relocation.

Markup % on cost = (selling price - cost) / cost x 100; markup % on retail = (selling price - cost) / selling price x 100.

Impulse merchandise belongs near the billing counter; destination goods belong in the deeper part of the store to pull customers through.

Seasonal buying must be planned with lead time: order before the season, receive on time, and clear residual stock before the next season.

Display zones: decompression zone (first 1.5-2 m inside the entrance), power wall (right side after entry), and the golden triangle of entrance, cash counter, and back wall.

Shelf levels: eye level and touch level sell best; bottom shelf for bulk/heavy items; top shelf for light or display-only items.

Colour blocking groups similar colours together for visual impact; vertical blocking keeps a category readable from top to bottom.

Store opening checklist: lights, air-conditioning, cleanliness, price tags, stock fill, cash float, and staff briefing.

Store closing checklist: reconcile cash and card totals, secure cash in safe, shut shutters, arm alarm, and record the day's sales.

Shrinkage sources: shoplifting, employee theft, supplier fraud, and administrative error; each needs a different control.

Signage rules: price must be displayed in INR inclusive of taxes; promotional signage must state the condition and validity clearly.

Housekeeping standard: aisles clear of cartons, floors dry, spill cleaned immediately, and no stock stored in walkways.

Reorder level = (average daily sales x lead time in days) + safety stock.

Economic order quantity balances ordering cost against holding cost; larger orders reduce ordering cost but raise storage cost.

FIFO issues the oldest stock first and suits perishables; LIFO issues newest first; FEFO issues the earliest-expiry stock first.

Perpetual inventory is updated after every transaction; periodic inventory is counted at fixed intervals such as month-end.

Physical stock verification compares book stock with counted stock; variance = book quantity - physical quantity.

ABC analysis: A items are few but high value (tight control), B moderate, C many but low value (simple control).

Stock-out cost includes lost sale, lost goodwill, and customer switch to a competitor; overstock cost includes capital lock-up and obsolescence.

GRN (Goods Received Note) records quantity and condition received against a purchase order; it is the basis for accepting or rejecting a delivery.

POS system components: billing software, barcode scanner, cash drawer, receipt printer, card/UPI terminal, and display.

Barcode structure: the first digits identify the country or format, the middle digits the manufacturer and item, and the last digit is a check digit.

Invoice elements: seller name and GSTIN, buyer details, invoice number and date, HSN/SAC code, quantity, rate, taxable value, CGST/SGST or IGST, and total.

Cash handling rule: count the note aloud, state the amount received, keep the note on the drawer ledge until change is given, then close the drawer.

Payment modes: cash, debit/credit card, UPI, net banking, wallets, EMI, and gift cards; each has different settlement time and chargeback risk.

Card safety: never write the CVV or full card number, never ask for the PIN, and shield the keypad during PIN entry.

Void versus refund: a void cancels a bill before settlement; a refund returns money after settlement and needs authorisation and a receipt.

Daily reconciliation: opening float + cash sales - refunds = expected closing cash; any difference is reported as over/short.

Accounting equation: Assets = Liabilities + Capital; every transaction keeps this balance.

Debit and credit rule: debit increases assets and expenses, credit increases liabilities, capital, and income.

Gross profit = net sales - cost of goods sold; net profit = gross profit - operating expenses.

Cost of goods sold = opening stock + purchases - closing stock.

Cash memo is issued for cash sales; a tax invoice is mandatory for GST-registered sales above the prescribed threshold.

GST rates commonly applied to retail goods are 0%, 5%, 12%, 18%, and 28%; intra-state supply splits into CGST and SGST, inter-state into IGST.

Petty cash imprest system: a fixed float is given, expenses are recorded on vouchers, and the float is restored to the fixed amount.

Depreciation reduces the book value of fixed assets such as fixtures and POS equipment; it is a non-cash expense.

Fire safety: extinguishers are marked by class - water (A), foam/dry powder (B, C), CO2 (electrical); PASS means Pull, Aim, Squeeze, Sweep.

Emergency exits must stay unlocked and unobstructed during trading hours; exit routes are marked with illuminated signage.

Manual handling rule: bend the knees, keep the load close to the body, do not twist while lifting, and take help above safe weight limits.

Slip and trip prevention: clean spills immediately with a wet-floor sign, keep cables routed away from aisles, and maintain dry floors at entrances.

Electrical safety: no daisy-chained extension boards, no damaged insulation, switch off non-essential equipment at closing.

First aid box contents: antiseptic, sterile gauze, adhesive plasters, cotton, scissors, gloves, and a contact list for emergency services.

Security controls: CCTV coverage of entrance, cash counter, and high-value racks; EAS tags on apparel; refunds only with authorisation.

Personal safety for staff: report threats, never chase a fleeing thief alone, and follow the store's incident-reporting procedure.

Communication process: sender, message, encoding, channel, receiver, decoding, feedback, and noise as interference.

7 Cs of communication: clear, concise, concrete, correct, coherent, complete, and courteous.

Active listening steps: pay attention, show acknowledgement, avoid interrupting, paraphrase, and confirm understanding.

Non-verbal cues: body posture, eye contact, facial expression, gesture, and tone; tone often carries more meaning than words.

Resume essentials: contact details, career objective, education, vocational NSQF qualification and level, skills, and references.

Interview preparation: research the employer, prepare examples using Situation-Task-Action-Result, and carry the required documents.

Entrepreneurship: an idea becomes a business plan covering market, operations, finance, and risk; a viability check tests demand and cost.

Sources of small-business finance: own savings, bank loan, MUDRA scheme, self-help group, and government subsidy schemes.

NSQF levels run from 1 to 10; HSLC vocational learners are typically assessed at Level 2 or Level 3 depending on the qualification.

Assessment weight is split between theory and practical; practical marks come from demonstration, project file, and viva.

Project file structure: title, objective, introduction, method, observations, results, conclusion, and acknowledgements.

Viva answers should be short, factual, and linked to evidence in the project file; if unsure, state the correct procedure rather than guess.

Practical demonstration checkpoints: correct sequence of steps, use of tools and safety gear, accuracy, time management, and housekeeping.

Common practical tasks: greeting and serving a customer, billing on POS, shelf filling and facing, stock counting, and preparing a display.

Portfolio evidence includes photographs, customer feedback forms, stock sheets, and bills, each signed by the supervisor.

Evaluation criteria usually include technical skill, communication, safety compliance, problem-solving, and record maintenance.