RBSE Sec Voc Retail key terms

A diagram that shows exactly where each product goes on a shelf or fixture, including the number of facings and the vertical position, so that every store displays the range in the same planned way.

One unit of a product placed at the front of the shelf and visible to the shopper. The number of facings given to an item signals its importance and affects how quickly it sells.

The complete mix of product lines, categories and items a retailer chooses to offer. Its breadth and depth are decided from customer demand, space, budget and supplier terms.

The number of different product categories or lines a store carries. A wide range lets shoppers buy many kinds of goods in one trip but demands more space and cash.

The number of variants, such as sizes, colours or brands, offered within a single category. Deep ranges satisfy picky customers but raise the risk of unsold stock.

A unique code given to each distinct item a retailer sells, including its size, colour or pack. SKUs are the basic unit used for counting stock, pricing and recording sales.

The planned use of displays, lighting, colour, signage and product placement to attract shoppers, guide them through the store and encourage unplanned purchases at the point of sale.

A small fixture or stand placed near the till or at the end of an aisle to prompt impulse buying. It usually holds fast-moving, low-value items that shoppers add at the last moment.

A buying decision made suddenly at the moment of seeing a product, without prior planning. Retailers trigger it with prominent placement, attractive pricing and easy access near the checkout.

Encouraging a customer who is already buying one product to add a related item, such as a case for a phone. It raises the value of the sale without pressure to change the main choice.

Persuading a customer to choose a higher-priced or better-featured version of the product they already intend to buy. It works best when the extra benefits clearly match the customer's stated needs.

Total sales revenue divided by the number of transactions in a period. It shows how much an average customer spends per visit and is used to judge selling and promotion results.

The percentage of shoppers who enter the store and actually make a purchase. It is calculated as transactions divided by footfall, multiplied by one hundred.

The number of people who enter a store during a given period. It is a key measure of location performance and is compared with sales to assess how well staff convert visitors.

The geographic zone from which a store draws most of its customers. Its size and income profile help decide the product range, price level and promotional plan for that branch.

The specific group of customers a retailer aims to serve, described by age, income, lifestyle or location. Range, pricing, store design and advertising are all shaped around this group.

Dividing a broad customer population into smaller groups with similar needs or buying habits. A retailer then chooses which segments to serve and tailors its offer to them.

The system and practices a retailer uses to record customer details, purchase history and preferences so that service, offers and communication can be personalised over time.

The total profit a retailer expects from a customer over the whole period of their relationship. It justifies spending on service and retention rather than chasing only the first sale.

A scheme that rewards repeat customers with points, discounts or member prices in exchange for their contact details and continued spending. It also supplies data for targeted promotions.

The structured steps staff follow when a customer reports a problem: listen fully, apologise, confirm the facts, offer a fair solution and follow up. Correct handling can turn a complaint into loyalty.

The action taken to fix a service failure and restore the customer's confidence, such as a replacement, refund or goodwill gesture. It aims to prevent the loss of a valuable customer.

A technique that states a product fact and then explains the practical advantage it gives the customer. Linking features to real needs makes recommendations more convincing than listing specifications alone.

Questioning and listening at the start of a sale to learn what the customer wants, how they will use the product and what budget they have, so the recommendation fits their situation.

A model describing the stages a shopper moves through, from awareness and interest to decision and purchase. Retailers use it to plan which marketing and selling actions happen at each stage.

The ranking of products from broad department down to category, sub-category and individual SKU. It gives everyone a shared structure for planning, reporting sales and managing space.

A group of products that customers see as related and that are managed together as a business unit, such as beverages or footwear. A category manager plans its range, price and promotion.

The amount of money a retailer can still spend on new stock during a period, calculated as planned purchases minus stock already ordered. It keeps buying within the budget and stock targets.

The number of times average stock is sold and replaced during a period, found by dividing cost of goods sold by average stock value. A low rate warns of slow-moving or excess inventory.

A stock record updated continuously as goods are received and sold, usually through the POS system. It shows expected stock on hand at any moment and highlights differences found at stocktake.

A physical count of goods on hand, compared with the recorded stock figure. Differences reveal theft, damage or paperwork errors and are used to correct the inventory records.

The loss of stock value caused by theft, supplier fraud, damage, spoilage or administrative error. It is measured as the gap between recorded and actual stock, usually as a percentage of sales.

A stock rotation rule under which the oldest goods are sold before newer ones. It is essential for perishable items and reduces waste from expired or deteriorated stock.

The routine of moving older stock to the front of the shelf and placing new deliveries behind it. It ensures customers take the earliest-dated goods first and cuts markdowns on expired items.

Extra inventory held above normal expected demand to cover delays in delivery or sudden spikes in sales. It protects availability but ties up cash and needs careful sizing.

The stock level at which a new order must be placed so that goods arrive before the shelf runs out. It depends on daily sales rate and supplier lead time.

The period between placing an order with a supplier and receiving the goods into the store. Accurate lead times are needed to set reorder points and avoid empty shelves.

The planned arrangement of fixtures, aisles, departments and service points within a shop. A good layout guides shoppers past more products, reduces crowding and supports staff efficiency.

A store design with parallel aisles and shelves, typical of supermarkets and pharmacies. It makes products easy to find and supports efficient restocking, but offers limited browsing freedom.

The first few metres inside the entrance where shoppers slow down and adjust to the store. Retailers often keep it open or lightly displayed because customers rarely notice products there.

The till hardware and software that records each sale, calculates totals and tax, accepts payment and updates stock records. Modern systems also handle returns, discounts and sales reporting.

A printed pattern of lines and numbers that identifies a product or SKU. Scanning it at the till enters the correct item and price quickly and reduces keying errors.

The end-of-shift check that compares cash counted in the drawer with the expected amount from the POS report. Differences must be recorded and investigated to protect against loss and fraud.

Sales revenue minus the cost of the goods sold, usually expressed as a percentage of selling price. It shows how much each sale contributes towards rent, wages and profit.

The amount added to the cost price of a product to set its selling price. It is often stated as a percentage of cost and must be enough to cover expenses and yield profit.

A reduction in the original selling price, used to clear slow stock, match competitors or respond to seasonal change. Frequent markdowns protect cash flow but erode margin.

A simple pricing rule in which the selling price is set at double the cost price, giving a fifty percent gross margin on the item. It is common in small independent shops.

A product priced very low, sometimes below cost, to attract shoppers into the store in the hope they buy other profitable items. It must be used sparingly to avoid harming overall margin.

A time-limited marketing activity, such as a discount, multi-buy or coupon, designed to increase sales or clear stock. Its cost and results should be measured against clear targets.

The legal protections a buyer has when purchasing goods or services, typically covering quality, safety, accurate description and redress for faulty products. Staff must know and respect them.

The store's stated rules on returning goods and receiving money back, including time limits, proof of purchase and condition requirements. It must comply with consumer law and be applied consistently.

A supplier or retailer promise to repair or replace a product that fails within a stated period. It is separate from the customer's statutory rights and should never be used to limit them.

The practices and legal duties that keep staff and customers free from injury in the store, covering floors, shelving, manual handling, electrical equipment, fire exits and emergency procedures.

Lifting, carrying, pushing or pulling loads by hand. Correct technique, team lifting and use of trolleys reduce back and shoulder injuries when moving stock or deliveries.

A careful review of what in the workplace could cause harm, who might be affected and what controls are needed. It is recorded and reviewed regularly as conditions change.

The routine of checking and recording use-by and best-before dates on stock, removing out-of-date items and rotating shelves. It protects customer safety and reduces waste and legal risk.

Inventory that sells far below the expected rate and ties up cash and shelf space. It is identified from sales reports and dealt with through markdowns, transfers or returns to the supplier.