Assam ASSEB HSLC NSQF Retail Trade key terms

The business activity of selling goods or services directly to the final consumer for personal or household use, rather than to another business for resale or further processing.

A person or business that buys goods from manufacturers or wholesalers and sells them in small quantities to end customers, adding value through assortment, location, service and convenience.

An intermediary that purchases goods in bulk from producers and resells them in smaller lots to retailers, often providing storage, credit and transport but not selling to final consumers.

The chain of businesses and steps through which a product passes from the producer to the final consumer, such as manufacturer to wholesaler to retailer to customer.

A small neighbourhood retail shop in India selling groceries, packaged food and daily-use items, typically run by an owner-operator serving local customers with credit and home delivery.

Retail trade carried out by licensed, registered businesses such as chain stores, supermarkets and e-commerce firms that follow formal systems, standards and accounting practices.

Small-scale, largely informal retail such as street vendors, hawkers and owner-run shops that operate without formal registration, standard systems or structured record-keeping.

All assistance and attention a retailer gives buyers before, during and after a purchase, including greeting, guidance, complaint handling and follow-up, aimed at satisfaction and repeat business.

The degree to which a customer's expectations about a product or shopping experience are met or exceeded, often measured through feedback, ratings and repeat purchase behaviour.

Persuading a customer to buy a higher-priced or upgraded version of the product they intended to purchase, usually by explaining added features and benefits.

Suggesting related or complementary products to a customer alongside the main purchase, such as offering a phone cover and charger when a handset is bought.

A salesperson's detailed understanding of the features, benefits, price, usage and care of the goods being sold, enabling accurate advice and confident handling of customer questions.

The structured process of listening to a customer complaint, recording it, investigating the cause, offering a fair remedy and following up so the issue does not recur.

A customer's tendency to keep returning to the same retailer and recommending it to others, built through consistent service, trust, value and reward programmes.

The planning and presentation of the right product range, at the right price, place and time, in quantities and displays that attract customers and maximise sales.

The arrangement of products, fixtures, lighting, signage and props in a store to attract attention, guide shoppers and encourage impulse purchases while keeping the space safe and tidy.

A diagram that shows exactly where each product should be placed on shelves or fixtures, including facing counts and shelf levels, so that displays stay consistent across stores.

The range of different products, brands, sizes and variants a retailer chooses to stock, balanced against available space, customer demand and the capital tied up in stock.

The number of units of a product placed side by side at the front of a shelf so the label and pack are fully visible to shoppers walking past.

Any organised presentation of goods, whether on shelves, racks, counters, mannequins or end-caps, designed to make products visible, accessible and appealing to buyers.

The display area at the end of a shelving aisle, facing the main walkway, used to highlight promoted or high-margin products and capture shopper attention.

The complete stock of goods a retailer holds for sale, including items on shelves, in the storeroom and in transit, valued and tracked to balance availability against cost.

The quantity of a particular item currently held by the store, compared against minimum and maximum limits to decide when to reorder or stop ordering.

The stock quantity at which a fresh purchase order must be raised, set so that normal demand during the supplier's delivery lead time does not cause a stock-out.

The total time between placing a purchase order with a supplier and the goods being received, checked and made available for sale in the store.

A situation where an item a customer wants is not available on the shelf or in the storeroom, leading to lost sales, dissatisfied buyers and possible permanent loss of custom.

Extra inventory kept beyond normal expected demand to absorb sudden spikes in sales or delays in supplier delivery, protecting the store from running out.

A measure of how many times the average inventory is sold and replaced during a period, calculated as cost of goods sold divided by average stock value.

A system in which every receipt, sale, return and adjustment is recorded as it happens, so the recorded balance is continuously updated without waiting for a physical count.

The place and moment where a customer pays for goods, usually a counter equipped with a cash register or billing software, scanner and card or digital payment terminal.

A printed pattern of parallel lines and spaces encoding product information, read by a scanner at billing to identify the item and fetch its price automatically.

The bill or receipt issued to a customer showing items bought, quantities, rates, taxes and total amount paid, serving as proof of purchase and a record for accounting.

A tax invoice issued under India's Goods and Services Tax system that shows the seller's GSTIN, tax rate and tax amount separately, allowing the buyer to claim input credit.

The locked till tray at the billing counter that holds notes and coins for giving change, opened only by the billing system or an authorised key holder.

The end-of-day process of comparing cash physically counted in the drawer with the sales total recorded by the billing system, and investigating any shortage or excess.

A small fund kept in the store to pay minor day-to-day expenses such as stationery, cleaning supplies or local transport, recorded with vouchers and topped up periodically.

A written document supporting a financial entry, such as a receipt, payment slip or expense bill, giving evidence that a transaction actually took place.

A book or digital record in which all financial transactions are posted account by account, showing debits, credits and the running balance for each account.

The difference between net sales revenue and the direct cost of goods sold, expressed as an amount or percentage, showing how much is left to cover operating expenses and profit.

The amount or percentage added to the cost price of an item to arrive at its selling price, calculated as the difference divided by cost price.

The loss of inventory value caused by theft, shoplifting, staff fraud, damage, spoilage or record-keeping errors, measured as the gap between book stock and physical stock.

A physical verification in which staff count every item on shelves and in the storeroom and compare the result with recorded book stock to detect errors and losses.

Closed-circuit television: cameras and recording equipment installed in a store to monitor activity, deter theft and provide evidence for investigating incidents.

A portable device containing extinguishing agents such as dry powder or CO2, used on small fires, kept serviced, mounted accessibly and matched to the classes of fire risk present.

A clearly marked, unobstructed doorway or route intended for quick evacuation during fire or other emergencies, kept unlocked and free of stored goods at all times.

A planned inspection of the store to check fire equipment, electrical wiring, walkways, storage and hygiene against safety standards, followed by corrective action on gaps found.

Paying full attention to a speaker, noting both words and tone, asking clarifying questions and restating the message to confirm understanding before responding.

Conveying meaning without words through body posture, facial expression, eye contact, gestures, spacing and tone of voice, often revealing attitudes a speaker does not state.

Information given back to a person or team about the effect of their behaviour or performance, ideally specific, timely and focused on actions rather than personal criticism.

The process of spotting an opportunity, arranging resources and taking calculated financial risk to start and run a business, such as opening a small retail outlet.

A written document setting out a venture's product, target customers, market analysis, operations, staffing, costs and projected income, used to guide the business and seek finance.

Earning a livelihood by working for oneself rather than an employer, whether as a shop owner, vendor or independent service provider, with income depending on one's own effort.

A person or firm that sells goods or services, either as a street seller to consumers or as a supplier of stock to a retail store.

A formal written request from a retailer to a supplier listing the items, quantities, agreed prices and delivery date required, forming the basis for later goods receipt.

Stock Keeping Unit: a unique code assigned to each distinct product variant, such as size and colour, so that stock, price and sales can be tracked separately.

A reduction from the listed selling price given to customers to encourage purchase, clear old stock or reward loyalty, which reduces the margin earned per unit.

An unplanned buying decision made at the moment of seeing a product, often triggered by attractive placement near the billing counter or end-cap display.

A manufacturer's or seller's written promise to repair, replace or refund a product within a stated period if it fails under normal use, supporting after-sales service.

Any source of potential harm in the workplace, such as wet floors, loose wiring, stacked cartons blocking aisles or unguarded sharp edges, which must be removed or controlled.