Haryana BSEH Senior Secondary NSQF Retail flashcards

32 cards. Read the term and the definition here. The deck at the top of this page is optional.

Retail

The sale of goods or services directly to the final consumer for personal or household use, forming the last link in the distribution chain.

Hypermarket

A very large self-service store, typically over 5,000 square metres, selling both food and non-food categories at low prices with wide and deep assortment.

Category killer

A large specialty store that offers a very deep range in one category at low prices, drawing customers from a wide catchment and pressuring smaller competitors.

Franchise outlet

A store run by an independent operator who pays fees to use a brand's name, systems and standard operating procedures under a written agreement.

Planogram

A diagram that specifies the exact position of each stock-keeping unit on a fixture, used to standardise shelf allocation, restocking and display compliance.

Decompression zone

The first one to one-and-a-half metres inside a store entrance where customers slow down and adjust; high-priority merchandise is not placed there.

Grid layout

A store layout with parallel aisles at right angles, giving maximum shelf space and fast restocking, typical of grocery and pharmacy formats.

Racetrack layout

A loop-shaped main aisle that circles the sales floor and guides customers past every section, common in department stores and apparel outlets.

Assortment depth

The number of variants such as size, colour or brand offered within a single product category, as opposed to the number of categories carried.

GMROI

Gross Margin Return on Inventory, calculated as gross margin divided by average inventory at cost; a value above one means inventory earns more margin than it costs.

Sell-through percentage

Units sold divided by units received, multiplied by one hundred; it measures how quickly a bought quantity is cleared and flags the need for markdown.

Markdown percentage

The reduction from original price divided by original price, multiplied by one hundred; it measures the depth of a price cut on slow or seasonal stock.

Feature-advantage-benefit

A selling sequence stating what a product is, what that feature does, and what it means for the customer, so the presentation ends on customer value.

Eye-level shelf zone

The shelf area roughly 1.2 to 1.5 metres above the floor, the prime selling position where high-margin and impulse products are placed.

Cross-merchandising

Displaying complementary products together, such as shirts with belts, so that a customer buying one item is prompted to buy the related item too.

Rule of three

A visual merchandising guideline that odd-numbered groupings of three or five items look more natural and are preferred for display clusters.

Customer lifetime value

Average purchase value multiplied by purchase frequency and retention period, estimating the total revenue a customer generates over the relationship.

Service recovery paradox

The finding that a customer whose complaint is resolved well can become more loyal than a customer who never experienced a problem.

CRM record

A stored customer profile containing contact details, purchase history, preferences, complaints and consent status, used to personalise service and offers.

SPIN selling

A questioning sequence of Situation, Problem, Implication and Need-payoff questions that helps a customer recognise a problem and the value of solving it.

Up-selling

Persuading a customer to choose a higher-value model or larger pack than originally intended, justified by a benefit the customer has already said matters.

Trial close

A low-risk question asked before the final close, such as offering gift wrapping, to test whether the customer is ready to buy.

Cash drawer reconciliation

Opening float plus cash sales minus refunds equals expected closing cash; any difference from the counted amount is recorded and reported.

Z-report

The end-of-day point-of-sale summary showing total sales by payment mode, taxes, refunds and cash due, used to close and settle the till.

Reorder level

Average daily sales multiplied by lead time in days, plus safety stock; stock reaching this level triggers a fresh purchase order.

Economic order quantity

The order size that minimises total ordering and holding cost, calculated as the square root of twice annual demand times ordering cost divided by holding cost.

Shrinkage

The gap between recorded book stock and physical stock, caused by theft, damage, supplier short-delivery or billing error, expressed as a percentage of sales.

FIFO

A stock rotation rule in which the earliest-received goods are sold first, essential for perishables and dated items to prevent expiry losses.

Promotion ROI

Incremental gross profit minus promotion cost, divided by promotion cost and multiplied by one hundred, showing the return on a promotional spend.

Point-of-purchase material

Shelf talkers, danglers, standees and floor stickers placed at the point where the buying decision is made to draw attention to an offer.

Active listening

Giving full attention to a speaker, paraphrasing the message, asking clarifying questions and confirming understanding before responding.

Break-even point

The sales volume at which total revenue equals total cost, calculated as fixed cost divided by selling price per unit minus variable cost per unit.