Punjab PSEB Matric NSQF Organised Retail 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 processing.

Retail trade carried out by licensed, registered businesses that operate through formal structures such as branded stores, chains or malls, follow standard systems, and maintain legal accounts and tax records.

Small, independent retail activity such as local kirana shops or street vendors, typically run informally with family labour, limited record-keeping and no standardised systems or branding.

The chain of businesses and steps through which goods move from the producer to the final consumer, including agents, wholesalers, distributors and retailers.

A trader who buys goods in large quantities from manufacturers or distributors and resells them in smaller lots to retailers, usually not selling directly to end consumers.

The way people decide what to buy, when, where and how much, shaped by their needs, income, culture, attitudes, reference groups and past experience with products.

The degree to which a customer's experience of a product or service meets or exceeds the expectations they held before buying, influencing repeat purchase and word-of-mouth.

A customer's consistent preference for and repeat purchase from a particular store or brand, often resulting from satisfaction, trust and perceived value over competing options.

The sequence a shopper typically follows: recognising a need, searching for information, comparing alternatives, making the purchase, and evaluating the result afterwards.

The ongoing connection a retailer builds with buyers through courteous service, recognition, follow-up and complaint handling, aimed at keeping them returning over time.

A diagram showing exactly where each product is placed on a shelf or fixture, including facings and quantities, so that display is consistent across stores and stock is easy to replenish.

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.

The practice of moving older stock to the front and placing newer stock behind it, so that goods are sold in the order received and spoilage or expiry losses are reduced.

First In, First Out: a stock handling rule under which the earliest-received goods are sold or issued first, helping prevent old stock from remaining unsold.

The safe and correct treatment of goods during receiving, unpacking, stacking, moving and display, including protection from damage, dirt, heat and moisture.

The planned use of display, colour, lighting, signage and product arrangement in a store to attract attention, guide shoppers and encourage unplanned purchases.

The arranged plan of aisles, sections and fixtures inside a shop that decides how customers move through the space and how easily they find products.

A store arrangement of parallel aisles and shelves, common in supermarkets, that allows efficient browsing and easy identification of product categories.

The counter or terminal where a sale is completed, where prices are entered or scanned, payment is collected and a receipt is generated for the customer.

A printed pattern of parallel lines and numbers that a scanner reads to identify a product, enabling quick price lookup and stock recording at billing.

The end-of-shift process of counting cash in the till and matching it against recorded sales and opening float, to detect shortages, errors or theft.

A small sum of money kept at a store for minor day-to-day expenses such as courier charges or local purchases, recorded and supported by vouchers.

The total quantity of goods a retailer holds in stock at a given time, including items on shelves, in the storeroom and in transit.

Stock Keeping Unit: a unique code given to each distinct item, identified by product, size, colour or pack, so that stock can be tracked separately.

The stock quantity at which a fresh order must be placed, set so that normal sales during the delivery lead time do not cause the item to run out.

The period between placing a purchase order and receiving the goods in the store, used to decide when to reorder and how much buffer stock is needed.

Extra inventory held above normal requirement to absorb unexpected demand or delivery delays, reducing the chance of a stock-out.

A situation in which an item is unavailable on the shelf when a customer wants it, causing lost sales and possible loss of customer goodwill.

The connected network of suppliers, transporters, warehouses and stores that moves goods from raw material or manufacturer to the final buyer.

A sales technique in which the salesperson suggests a higher-value or larger version of the product the customer is already considering, after understanding their need.

Suggesting related or complementary products that go with what the customer is buying, such as recommending a case with a phone or socks with shoes.

Concentrating fully on what a customer says, noting the words and tone, and confirming understanding by summarising or asking clarifying questions before responding.

Responding to a customer's doubts or hesitations about price, quality or suitability with facts, reassurance and alternatives, rather than argument or pressure.

The stage of a sales conversation where the salesperson helps the customer decide to buy, for example by confirming the choice or inviting payment.

The gap between recorded stock and actual stock, caused by theft, shoplifting, supplier fraud, damage, expiry or administrative error, measured as a loss to the business.

Theft of goods from a retail store by a customer or visitor, typically by concealing items or leaving without paying, which staff must deter and report.

The use of closed-circuit television cameras to monitor store areas, deter theft and record evidence, operated with attention to privacy and legal limits.

The set of policies and practices a retailer uses to reduce theft, fraud, wastage and damage, protecting stock, cash and the safety of staff and customers.

Precautions and procedures that prevent fires and protect people if one occurs, including extinguisher knowledge, clear exits, no smoking rules and staff evacuation drills.

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

Items worn or used to protect a worker from harm, such as gloves, safety shoes, goggles or masks, required for tasks like lifting, cleaning or handling chemicals.

Lifting, carrying, pushing or pulling loads using safe body posture and team help where needed, to avoid back and muscle injuries at work.

The formal process of receiving a customer or employee complaint, recording it, investigating fairly and giving a timely response that resolves the issue.

The standard of service a store delivers, judged by reliability, speed, courtesy, product knowledge and the cleanliness and comfort of the shopping environment.

The ability to convey and receive information clearly through speech, writing, body language and listening, adjusting tone and words to suit the customer or colleague.

Working cooperatively with colleagues, sharing tasks and information, supporting others during peak hours and accepting instructions and feedback constructively.

The initiative to identify a market opportunity, organise resources such as money, people and stock, and take on the risk of running a retail venture.

A written outline of a venture's product, target customers, costs, expected sales, funding needs and profit estimate, used to guide decisions and seek loans.

Buying and selling of goods or services over the internet, through websites or mobile apps, with payment and delivery handled online or at the doorstep.

A retail approach in which physical stores, websites and apps are linked so customers can browse, buy, return or collect across channels in one continuous experience.

A secure online service that authorises and processes digital payments between a shopper's bank or wallet and the seller's account during an online transaction.

Unified Payments Interface: an Indian system that lets people transfer money instantly between bank accounts using a mobile app and a virtual payment address.

An online ordering option in which the customer buys or reserves goods on a website or app and then picks them up from a store or pickup point.