Maharashtra HSC NSQF Retail Sales Associate 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 to the final consumer for personal, non-business use, forming the last link between the distribution chain and the customer.

Disintermediation

Removing a level from the distribution chain, for example a manufacturer selling directly to consumers online instead of through wholesalers and retailers.

Retail shrinkage

The value of recorded stock minus the value of physical stock found at counting, caused by theft, supplier fraud, paperwork error or damage.

Omnichannel retail

A retail model where store, website and app share one inventory and one customer view, enabling buy-online-pickup-in-store and returns at any point.

RATER service dimensions

Reliability, Assurance, Tangibles, Empathy and Responsiveness: five dimensions used to judge service quality, with reliability usually rated most important by customers.

Service gap

The difference between what a customer expected and what the customer actually perceived receiving, arising from poor listening, wrong standards or over-promising.

Customer lifetime value

Estimated total profit from a customer over the whole relationship, roughly average purchase value times purchase frequency times retention years; used to justify retention spending.

Service recovery paradox

The finding that a fast, fair response to a service failure can leave a customer more satisfied than if the failure had never happened.

Features, advantages, benefits

A product description method: features are what the item has, advantages are what those features do, benefits are what the customer gains from them.

MRP

Maximum retail price printed on the pack, inclusive of taxes. Selling above MRP breaches the Legal Metrology Act; discounts can only go below it.

FEFO

First-expiry-first-out: dated and perishable stock is issued in order of the earliest expiry date, not the order in which it arrived.

Up-sell versus cross-sell

Up-selling offers a higher-value version of the chosen item; cross-selling offers a related add-on. Both must genuinely fit the customer's stated need.

Planogram

A diagram fixing the exact position, facings and quantity of each SKU on a fixture; planogram adherence measures how closely the real shelf matches it.

Golden zone

The shelf band roughly between eye and chest height, where high-margin and impulse items are placed because shoppers look there first.

Cross-merchandising

Displaying complementary products together, such as socks beside shoes or batteries beside toys, so the customer buys more in one visit.

Power wall

A high-impact display at or near the store entrance that converts entering footfall into browsing, usually carrying new or promoted stock.

Open versus closed questions

Open questions beginning with what, how or which explore customer needs; closed questions confirm specific facts such as size, colour or budget.

Alternative choice close

A closing technique offering two acceptable options, such as this colour or that one, so the customer chooses between products rather than yes or no.

Conversion rate

The share of visitors or customers served who actually buy: transactions divided by footfall, expressed as a percentage of store traffic.

Average transaction value

Total sales divided by the number of bills, showing how much an average customer spends in one visit; raised by add-on selling.

Cash reconciliation

Opening float plus cash sales minus refunds and petty payouts equals expected closing cash; any variance from the actual count is recorded and reported.

GST invoice essentials

A tax invoice must show supplier name and address, GSTIN, invoice number and date, HSN or SAC code, taxable value, tax rate and amount, and total.

Card safety at POS

Never store the card or write the full number or CVV, shield the keypad, and hand the terminal to the customer for PIN entry.

Reorder level

The stock level that triggers a new order: safety stock plus average daily demand multiplied by supplier lead time in days.

Goods received note

A document recording quantity and condition of stock accepted against a purchase order, used to update inventory and match the supplier invoice.

Cycle count

A partial stock count of selected SKUs or bins on a rolling schedule, used to keep system stock accurate without closing the store.

Stock turnover ratio

Cost of goods sold divided by average inventory, showing how many times stock is sold and replaced in a period.

PASS fire procedure

Pull the pin, Aim the nozzle at the base of the fire, Squeeze the handle, Sweep side to side, standing at a safe distance with an exit behind.

Safe manual handling

Bend the knees, keep the load close to the body, avoid twisting while lifting, use trolleys for bulk stock, and team-lift loads beyond personal limits.

Active listening

Giving full attention, not interrupting, paraphrasing what was heard to check understanding, noting key details and confirming the agreed next step.

Break-even quantity

Fixed costs divided by contribution per unit, where contribution equals selling price minus variable cost per unit; the volume at which profit is zero.

Working capital

Current assets minus current liabilities; retail needs it because stock is bought and paid for before customers buy it and cash returns.