Karnataka II PUC Retail Vocational (KSEAB) key terms

The business activity of selling goods or services directly to final consumers for their own personal or household use, rather than for resale or further production.

A person or business that purchases products from manufacturers, wholesalers or distributors and resells them to end customers, adding services such as display, advice and convenient location.

The particular combination of size, location, product range, price level and service style that defines a store type, such as convenience store, supermarket, department store or specialty outlet.

A small neighbourhood grocery shop, usually owner-run, stocking everyday staples such as rice, pulses, oil and packaged foods, and often offering credit and home delivery to regular customers.

A large multi-floor retail outlet divided into separate sections for categories such as apparel, cosmetics, home goods and electronics, each managed as a distinct department under one roof.

The path a product follows from producer to consumer, including any intermediaries such as distributors, wholesalers and retailers, along with the storage and transport links between them.

A business that buys goods in bulk from producers and sells them in smaller quantities to retailers, typically not selling to final consumers and often providing credit and transport.

The assistance and experience a retailer provides before, during and after a purchase, including greeting, product guidance, complaint handling and after-sales support that shape customer satisfaction.

Persuading a customer to buy a higher-priced or upgraded version of the product they are considering, usually by explaining extra features or benefits that justify the additional cost.

Suggesting related or complementary products to a customer who is already buying something, such as offering a belt with trousers or a case with a phone.

A customer's repeated preference for one retailer over competitors, built through consistent service, fair pricing and rewards, and often measured by repeat purchase rate.

A structured scheme that rewards repeat customers with points, discounts or member benefits in exchange for continued purchases and shared contact details.

The full range of products a retailer stocks, described by its breadth across categories and its depth of brands, sizes and variants within each category.

A diagram showing exactly where each product should be placed on shelves or fixtures, including facings and shelf levels, so that displays match a planned layout consistently.

The use of layout, lighting, colour, signage and product presentation to attract shoppers, guide them through the store and encourage unplanned purchases.

The number of units of one product placed side by side at the front of a shelf, visible to shoppers; more facings usually mean more shelf space and sales attention.

A promotional fixture or sign placed near the till or beside the relevant products to prompt an impulse purchase or highlight a special offer.

A buying decision made at the moment of shopping without prior planning, often triggered by attractive display, placement near the billing counter or a visible promotion.

The process of deciding how much shelf length or number of facings each product receives, based on sales contribution, category role and supplier agreements.

The total stock of goods a retailer holds for sale, including items on shelves, in the stockroom and in transit, valued at cost or selling price.

The number of times inventory is sold and replaced over a period, calculated by dividing cost of goods sold by average inventory value; a higher rate generally means faster-moving stock.

Inventory that has not sold for a long period and is unlikely to sell at normal price, tying up capital and shelf space and usually requiring markdown or return to supplier.

The physical counting of goods on hand and comparison with recorded book stock to detect shortages, errors, damage or theft.

The loss of inventory value caused by theft, shoplifting, supplier fraud, damage or record-keeping error, measured as the gap between recorded and physically counted stock.

A stock rotation method in which older stock is sold before newer stock, essential for perishable goods so that products do not expire on the shelf.

The stock quantity at which a fresh order must be placed so that normal sales during the supply lead time do not cause a stock-out.

The period between placing a purchase order and receiving the goods in the store, used to set reorder levels and safety stock.

A situation where a product a customer wants is not available on the shelf, resulting in a lost sale and possible loss of customer goodwill.

The planned arrangement of fixtures, aisles and departments within a sales area, designed to control customer movement and maximise exposure to merchandise.

The place and system where a customer's transaction is completed, typically a billing counter with a cash register or terminal that records items, prices and payment.

A machine-readable pattern of lines encoding a product's identification number, scanned at the point of sale to fetch the price and update stock records quickly and accurately.

Stock Keeping Unit: a unique code identifying one specific item by product, size, colour or pack, allowing the retailer to track and price each variant separately.

The bill or receipt issued to a customer showing items purchased, quantities, prices, tax and total amount paid, serving as proof of sale for both parties.

A small float of cash kept at the store for minor day-to-day expenses such as stationery or courier charges, recorded in a petty cash book and periodically reimbursed.

The end-of-day process of counting cash in the till and matching it against total recorded sales, investigating any excess or shortfall before the day is closed.

A reduction in the selling price of an item, applied to clear slow stock, match competitor pricing or sell seasonal goods before they lose value.

The difference between net sales and the cost of goods sold, expressed in rupees or as a percentage of sales, showing what remains to cover operating expenses and profit.

An indirect tax levied on the supply of goods and services in India, collected at the point of sale and shown separately on the customer's invoice.

Fully concentrating on a speaker, noting both words and tone, and confirming understanding by summarising or asking questions instead of interrupting.

The formal process a store follows to receive, record, investigate and resolve customer complaints within a stated time, including escalation to a senior officer.

The activity of identifying an opportunity, arranging resources and taking financial risk to start and run a business, such as opening an independent retail outlet.

A written document setting out a venture's product, target market, operations, costs, funding needs and expected returns, used to guide the owner and persuade lenders.

Precautions and equipment in a store, such as extinguishers, clear exits and staff training, that prevent fires and protect people and property if one occurs.

The planned and practised movement of customers and staff out of a building through marked exits to a safe assembly point during fire, gas leak or other danger.

Measures taken to prevent injury to staff and customers, covering safe stacking, clean floors, correct lifting, guarded equipment and reporting of hazards.

Practices in food-handling sections that keep products safe, including clean surfaces, correct storage temperature, pest control and staff handwashing.

The date after which a perishable or packaged product should no longer be sold or consumed, checked during stock rotation and removed from shelves promptly.

The body of law and practice safeguarding buyers against unfair trade, defective goods and misleading claims, giving them rights to redress and information.

Treating a group of related products as a business unit, with a manager who plans assortment, pricing, promotion and shelf space to grow sales and margin for that category.