RBSE SS Voc Retail key terms

The route through which goods reach a buyer, such as a physical store, a website, a market stall, or a mobile app. Choosing a channel shapes costs, staffing, and how customers interact with the business.

A retail outlet operating from a physical building where customers browse and buy in person. It carries rent, utilities, and display costs but allows immediate product handling and face-to-face service.

A strategy that links physical stores, websites, apps, and delivery into one consistent shopping experience, so stock, pricing, and customer records stay aligned across every touchpoint the buyer uses.

The customer-facing area of a store where selling, display, and service happen. Staff here focus on greeting, assisting, and closing sales rather than on stockrooms or paperwork.

The selling area of a retail premises, including aisles, fixtures, and display zones. Its layout and tidiness directly affect how easily customers find products and how long they stay.

Encouraging a customer to choose a higher-value version of what they already want, such as a larger pack or premium model. It raises average transaction value when the suggestion genuinely fits the buyer's need.

Suggesting a related or complementary product alongside the item a customer is buying, such as a case for a phone. It increases basket size without pushing the buyer toward a different main purchase.

The number of items or total value a customer buys in one transaction. Retailers track it to judge selling skill and promotion effectiveness, and to set targets for staff.

Total sales revenue divided by the number of transactions in a period. It shows how much a typical sale is worth and helps managers judge pricing, upselling, and promotion results.

The help and attention a shopper receives before, during, and after a purchase, including advice, complaint handling, and follow-up. Good service builds repeat visits and word-of-mouth recommendation.

Support given once a sale is complete, such as returns processing, repairs, warranty claims, or usage guidance. It protects customer trust and often determines whether the buyer returns.

The total profit a business expects from one customer over the whole relationship, not just the first purchase. It justifies spending on service and retention rather than chasing only new buyers.

The place and system where a transaction is completed, covering the counter, the billing software, and the payment device. Modern POS systems also update stock and record sales data.

A machine or software screen used to record sales, calculate totals, and hold cash during a shift. Staff must reconcile its contents against recorded sales at closing.

Comparing the cash physically counted in the drawer with the amount the billing system says should be there. Differences are investigated and recorded to deter theft and catch billing errors.

A small fund kept on the premises for minor expenses such as courier fees or cleaning supplies. It is recorded with vouchers so every rupee or dollar spent can be accounted for.

A document listing goods or services supplied, their quantities, prices, and tax, sent by a seller to a buyer. It supports payment claims, accounting records, and warranty or return rights.

A record made when delivered stock is checked against the order, noting quantities accepted and any damage or shortage. It feeds inventory records and supports claims against suppliers.

A formal request from a buyer to a supplier specifying items, quantities, prices, and delivery terms. It creates a reference against which deliveries and invoices are verified.

The stock quantity that triggers a new order so that normal sales can continue until fresh supplies arrive. It is set from average daily sales and supplier lead time, plus a safety margin.

The period between placing an order and receiving the goods in sellable condition. Longer lead times require higher reorder levels and more working capital tied up in stock.

Extra inventory held beyond expected demand to absorb delays, sudden rushes, or inaccurate forecasts. It protects sales and service levels at the cost of higher holding expenses.

How many times inventory is sold and replaced over a period, usually calculated as cost of goods sold divided by average stock value. Faster turnover generally means fresher stock and less cash tied up.

The gap between recorded stock and stock actually on hand, caused by theft, damage, spoilage, or paperwork errors. It reduces profit directly and is tracked through regular stock counts.

A physical tally of items on shelves and in storage, compared with system records. Regular counts reveal shrinkage, misplaced goods, and errors in receiving or billing.

A diagram showing exactly where each product sits on a fixture, including shelf position and facing count. It keeps layouts consistent across stores and supports category sales plans.

Arranging products, lighting, signage, and props to attract attention and encourage buying. Effective displays guide shoppers through the store and highlight promoted or high-margin items.

A staged arrangement in a store's front glass designed to stop passers-by and signal what the shop offers. It is often refreshed around festivals, seasons, or new arrivals.

A small stand, shelf strip, or counter unit placed near the till or beside the product to prompt an impulse decision. It works best with low-priced items and clear, short messages.

The number of units of a product shown side by side at the front of a shelf. More facings give a brand greater visibility but reduce space available for other items.

Deciding how much linear or cubic space each product or category receives on fixtures. The decision balances sales potential, margin, and the need for a clear, uncluttered presentation.

An unplanned purchase made on the spot, often triggered by display, price, or convenience near the till. Retailers encourage it with placement, small pack sizes, and visible offers.

A short-term marketing activity such as a discount, bundle, or contest intended to lift sales or clear stock. Its cost must be weighed against the extra volume and margin it generates.

A planned or forced reduction in selling price, used to clear slow stock, match competitors, or drive traffic. Frequent markdowns protect cash flow but can erode margin and brand value.

A scheme rewarding repeat customers with points, discounts, or member prices in exchange for continued purchases and contact details. It supports retention and provides useful buying data.

A service letting customers order online and pick up the item at a store or counter. It combines digital convenience with local stock and can bring extra footfall into the shop.

A device that reads printed barcodes to identify products at billing or stock-taking. Accurate scanning speeds up queues and keeps inventory records close to real time.

Sales revenue minus the direct cost of the goods sold, usually expressed as a percentage of revenue. It shows how much is left to cover rent, wages, and profit after paying for stock.

The sales level at which total revenue equals total costs, so the business makes neither profit nor loss. Small retailers use it to judge whether rent and staffing are affordable.

The money available for day-to-day running, calculated as current assets minus current liabilities. Retailers with slow stock turnover often run short of it even when sales look healthy.