Punjab PSEB Matric NSQF Organised Retail cheat sheet

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

Unorganised retail (kirana shops, street vendors, haats) is owner-run, small-scale, low-investment and outside organised taxation and accounting systems.

Organised retail operates through licensed, registered formats (supermarket, hypermarket, department store, chain store) with standardised processes, billing and accounting.

Key formats: convenience store (small, long hours, limited range), supermarket (food-led, self-service), hypermarket (large, food plus general merchandise), department store (apparel and lifestyle, counter service).

Retail functions: assortment building, breaking bulk, holding stock, providing market information, and delivering service and convenience to consumers.

Indian retail is dominated by unorganised trade by outlet count; organised retail is concentrated in urban and semi-urban areas.

FDI policy: single-brand retail permits up to 100% with sourcing conditions; multi-brand retail is restricted, so most Indian organised chains are domestic.

A retail channel is a route to the consumer - store-based (physical) or non-store (e-commerce, catalogue, direct selling, vending).

Retailer's core value proposition = the right assortment, at the right place and time, at a price the target customer accepts.

Buying decision stages: need recognition → information search → evaluation of alternatives → purchase → post-purchase behaviour (satisfaction or dissonance).

Buying roles: initiator, influencer, decider, buyer, user - one person may hold several roles in a family purchase.

Factors shaping consumer behaviour: cultural, social (family, reference groups), personal (age, income, occupation) and psychological (motivation, perception, learning, attitude).

Service quality gaps occur when the service promised differs from the service delivered; staff knowledge, waiting time and complaint handling are the usual causes.

Complaint handling sequence: listen without interrupting → acknowledge and apologise for the experience → resolve or escalate → confirm satisfaction → record the case.

Moments of truth are every direct contact point between customer and staff; each one can create or destroy loyalty.

Customer lifetime value = average purchase value × purchase frequency per year × expected years of relationship; it justifies spending on retention.

Service recovery paradox: a customer whose problem is fixed quickly and fairly can become more loyal than one who never had a problem.

A customer's perception of waiting time rises with unexplained delay; informing the customer of the expected wait reduces perceived waiting time.

Daily store opening checklist: staff attendance and grooming, cash float, POS and network check, floor cleanliness, price tags and promotional displays, security systems armed.

Receiving process: verify quantity against delivery challan → inspect quality and damage → record short or damaged items on the challan before signing → move to backroom or floor.

FIFO/FEFO rule: older stock is sold first; first-expiry-first-out applies to perishables and packaged food with dates.

Planogram compliance: every SKU has a fixed position on the fixture; deviation breaks the layout and the replenishment logic.

Stock rotation on shelf: pull older units forward, place new stock behind; check and pull damaged or expired units during rotation.

Shrinkage sources at store level: theft (customer and employee), supplier fraud, administrative error, and damage in handling or storage.

Store closing routine: cash reconciliation and deposit, returns and exchange log, end-of-day stock count of high-value items, lock-up and alarm check.

Merchandise handling rules: stack by weight (heavy low, light high), keep aisles clear, never block fire exits with stock or trolleys.

A stock-out on a promoted item costs both the sale and customer goodwill; escalate to the department head when shelf stock falls below the reorder trigger.

Visual merchandising objectives: attract attention, communicate the offer, ease the buying decision, and increase basket size.

Grid layout: parallel aisles, efficient for supermarkets; racetrack (loop) layout: a defined path past all departments, used by department stores.

Decompression zone is the first 1.5–2 m inside the entrance; shoppers rarely notice products there, so keep it open.

Golden zone (eye level to about waist-to-shoulder height) sells most; children's products go lower, premium impulse items at eye level.

Impulse and high-margin items belong at the till point and at aisle ends (end caps); staples and destination goods can sit further back.

Colour blocking and vertical merchandising: group by colour or family and stack sizes vertically so the eye travels down the fixture.

Signage rules: one price per product, clear and legible from the aisle, consistent with the POS price; a wrong tag is a legal and trust risk.

Lighting and cleanliness affect perceived quality; dim, cluttered fixtures reduce the price the customer is willing to pay.

Window display should carry one clear message or theme, be changed regularly, and show the product at its best without blocking entry.

POS billing flow: scan or key item → verify price and quantity → apply discount or scheme → total → collect payment → print or send bill → hand over with change.

Cash handling: count the change back to the customer, keep the drawer closed between transactions, and never leave the till unattended and unlocked.

Cash drawer reconciliation: opening float + cash sales − refunds and payouts = expected closing cash; the difference is the over/short.

Barcode (EAN/UPC) encodes product identity; the POS looks up price from the master file, so a wrong master price produces a wrong bill.

Payment modes at the till: cash, card (debit/credit), UPI or QR, wallet, and store credit; each must reconcile to the day's settlement report.

Card and UPI transactions: never ask for or record the PIN; check the amount on the terminal before the customer authorises.

Void and refund rules: require supervisor authorisation, record the reason, retain the original bill, and return the item to stock only after inspection.

GST on a retail bill: CGST + SGST for intra-state supply, IGST for inter-state; the tax invoice must show GSTIN, HSN code and tax rate.

A bill is proof of purchase for warranty and returns; duplicate bills must be marked as duplicates to prevent fraud.

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

Safety stock covers demand and lead-time variability; it rises with uncertainty and with the cost of a stock-out.

Economic order quantity balances ordering cost against holding cost; EOQ = √(2DS ÷ H), where D = annual demand, S = cost per order, H = holding cost per unit per year.

Inventory turnover = cost of goods sold ÷ average inventory at cost; a higher ratio means faster stock movement.

Stock-out risk: lost sale, customer switching to a competitor, and a drop in the item's future sales.

ABC analysis: A items are high-value, few SKUs, tightly controlled; C items are low-value, many SKUs, loosely controlled.

Perpetual inventory = continuous records updated at each transaction; periodic inventory = physical count at fixed intervals.

Shrinkage % = (book stock − physical stock) ÷ book stock × 100; investigate any unexplained variance beyond the set tolerance.

Supply chain flow: supplier → distribution centre or warehouse → store backroom → shelf → customer; each handover is a point where records can break.

Selling steps: approach → probe needs → present the matching product → handle objections → close the sale → confirm and suggest add-ons.

Open questions (what, how, when) uncover needs; closed questions confirm details; leading questions steer the answer and should be used sparingly.

Feature–advantage–benefit: a feature is a fact about the product, an advantage is what it does, a benefit is what it means for this customer.

Objection handling: hear the objection fully, acknowledge it, answer with evidence, and check that the concern is resolved.

Closing techniques: direct ask, choice close (which of these two), and assumptive close; all require the customer's readiness to buy.

Active listening: maintain eye contact, do not interrupt, paraphrase to confirm, and note the customer's words for later use.

Upselling moves the customer to a higher-value version; cross-selling adds a related product; both must serve a genuine need or they damage trust.

Body language cues: open posture and a smile invite approach; crossed arms and a turned body signal disengagement.

Grooming and greeting standards: clean uniform, name badge, greet within a reasonable time of entry, and use the customer's name if known.

Fire safety: keep exits and extinguishers unobstructed, know the evacuation route and assembly point, and follow the PASS rule - Pull, Aim, Squeeze, Sweep.

Wet floors require an immediate warning sign and mopping; slips are among the most common retail floor accidents.

Manual handling rule: bend the knees, keep the load close, do not twist while lifting, and use a trolley for heavy or bulky loads.

Electrical and food safety: no damaged plugs or trailing cables in aisles; perishables kept within cold-chain temperature limits.

Employee theft controls: bag checks per policy, restricted backdoor access, till void and refund authorisation, and CCTV coverage of high-value areas.

Customer theft indicators: bulky clothing out of season, groups creating distraction, empty packaging in fitting rooms or aisles.

Shoplifting response: observe, do not physically confront, inform the supervisor or security, and follow the store's legal procedure.

Cash security: keep drawer cash low, make scheduled drops to the safe, vary the route and timing of bank deposits.

Incident reporting: record date, time, place, people involved and action taken; report every injury and near miss, not only serious ones.

Résumé essentials: contact details, objective, education with year, skills, experience or projects, and references - one to two pages, no false claims.

Interview preparation: research the employer, prepare examples of past behaviour (situation–action–result), and prepare questions to ask.

Workplace conduct: punctuality, attendance, uniform and grooming, respect for colleagues, and confidentiality of customer data.

Teamwork and escalation: complete your own task, report delays early, and escalate problems to the right person rather than hiding them.

Entrepreneurship basics: identify a customer problem, validate demand, estimate cost and price, and plan cash flow before launch.

Break-even quantity = fixed costs ÷ (selling price per unit − variable cost per unit).

Working capital = current assets − current liabilities; a retail business can be profitable and still fail for lack of cash.

Small retail licences and registrations in India include GST registration (where applicable), Shops and Establishments registration, and FSSAI licence for food.

Digital tools for a small retailer: UPI and card acceptance, billing software with GST support, and a social media or marketplace presence.

E-commerce models: B2C (retailer to consumer), B2B (business to business), C2C (marketplace of individuals), and D2C (brand sells directly).

Omnichannel retail integrates store, website and app so that stock, price, offers and returns are consistent across channels.

BOPIS (buy online, pick up in store) and ship-from-store use store inventory to serve online orders and cut delivery time.

Conversion rate = orders ÷ site visits × 100; cart abandonment rate = carts abandoned ÷ carts created × 100.

Customer acquisition cost = total marketing spend ÷ number of new customers acquired in the period.

Payment gateway flow: customer authorises → gateway sends to bank → bank approves or declines → merchant receives confirmation; failed payments must be reconciled.

E-commerce returns are costlier than store returns because of reverse logistics; clear size, photo and description data reduce them.

Data protection: collect only necessary customer data, protect it, and never share customer contact details without consent.

Digital payment security: verify the amount and merchant name, never share OTP or PIN, and use only official apps and trusted networks.