UPMSP High School Retail Trading key terms

A business or person that buys goods and resells them directly to final consumers for personal or household use, rather than to other businesses for resale or further processing.

A trader who buys goods in large quantities from producers and sells them in smaller lots to retailers, usually not selling to final consumers at all.

The particular combination of store size, product range, pricing, location and service style that defines how a shop sells to customers, such as a kirana store or a supermarket.

A small neighbourhood shop, usually family-run, selling daily necessities such as food grains, packaged snacks, toiletries and household items to nearby customers on credit or cash.

A large retail outlet organised into separate sections for different product categories such as clothing, cosmetics and home goods, each staffed and billed separately but under one roof.

One of several outlets owned and managed by a single company, sharing a common brand, standard layout, central purchasing and uniform pricing across all its locations.

The complete range of products a shop chooses to keep in stock, described by breadth (how many categories) and depth (how many variants within each category).

A diagram that shows exactly where each product should be placed on shelves and fixtures, guiding staff to build displays that match the store's merchandising plan.

The arrangement of products, signs, lighting and displays inside a store to attract attention, guide shoppers and encourage unplanned purchases.

Pulling products forward to the front edge of the shelf and aligning labels so that each item is clearly visible and easy for customers to pick up.

A buying decision made suddenly at the point of sale without prior planning, often triggered by attractive placement of small, low-priced items near the counter.

Persuading a customer to buy a higher-priced or upgraded version of the product they were considering, usually by explaining extra features or benefits.

Suggesting an additional related product that complements what the customer is already buying, such as offering a phone cover with a new handset.

Paying full attention to a customer, noting both the words and the feelings behind them, and confirming understanding before responding or offering a solution.

A customer's expression of dissatisfaction about a product, price, service or staff behaviour, which should be recorded and resolved politely and promptly.

Passing a customer issue to a senior colleague or manager when it is beyond the authority or ability of the current staff member to resolve.

The written rules stating under what conditions, within what time and with what proof a customer may bring back goods for refund, replacement or credit.

A unique code identifying one specific product by its size, colour, pack or variant, used to track quantity and price separately in records and billing systems.

A printed pattern of parallel lines and numbers that a scanner reads to identify a product and fetch its price and details from the billing system.

A record kept at the storage shelf or bin showing receipts, issues and the running balance of a particular item, so stock can be checked without counting everything.

The main book or digital file in which all receipts and issues of goods are entered date-wise, giving an overall running record of store inventory.

The stock quantity at which a fresh order must be placed, set high enough to cover normal demand during the time a new supply takes to arrive.

The period between placing an order with a supplier and receiving the goods in the store, used to decide safe reorder levels and avoid running out of stock.

A situation where an item a customer wants is not available on the shelf or in the storeroom, causing lost sales and possible loss of customer goodwill.

The difference between recorded stock and actual stock, caused by theft, damage, spoilage, mispricing or record errors, representing a direct loss to the business.

The process of actually counting every item in the store and matching the count against records to find shortages, excesses or errors.

A storage rule under which older stock is issued or sold before newer stock, so that perishable or dated goods do not expire on the shelf.

The date printed on a product after which it should not be sold or consumed, requiring staff to remove such items from saleable stock.

The length of time a product stays fit for sale or use when stored under the conditions stated on its label.

An unbroken series of refrigerated storage and transport steps that keeps temperature-sensitive goods such as milk, frozen food and medicines within safe limits.

The place and system where a sale is completed, including the counter, scanner, billing software and cash drawer where payment is taken.

A document given to the customer showing the items sold, quantities, rates, total amount and date of purchase, serving as proof of sale.

A commercial document listing goods supplied or services rendered, with quantities, rates, taxes and total payable, used for both billing and tax records.

Goods and Services Tax, the indirect tax added to the price of most goods and services in India, which must be shown correctly on every bill.

The locked tray at the billing counter that holds cash received, opened only during a transaction and counted against records at the end of each shift.

Matching the cash actually present in the drawer against the total recorded by the billing system at the close of business to detect shortages or excesses.

Settlement of a bill by debit or credit card through a card machine or online gateway, where the customer authenticates the transaction with a PIN or signature.

A digital payment system that lets customers transfer money instantly between bank accounts using a mobile app and a virtual payment address or QR code.

Buying and selling of goods or services over the internet, including online marketplaces, the store's own website and social media selling.

The online description of an item for sale, containing title, photographs, price, size, features and delivery details that help a remote buyer decide.

The planning and management of storage, packing, transport and delivery of goods so that orders reach customers correctly and on time.

The rules a retail employer sets for staff appearance, including clean uniform, tidy hair, trimmed nails, minimal jewellery and personal freshness during work hours.

Habits that keep a retail worker clean and free from illness, such as bathing daily, washing hands before handling food, and covering hair while serving.

Practices that prevent food from becoming unsafe to eat, including clean storage, correct temperature control, pest prevention and separation of raw and cooked items.

Measures taken in the workplace to prevent accidents and injury, such as safe stacking, clear aisles, correct lifting and keeping electrical fittings in good repair.

Precautions and equipment, including extinguishers, alarms, clear exits and staff training, that reduce the risk of fire and protect people if one occurs.

Lifting, carrying, pushing or pulling loads by hand, done with a straight back, bent knees and loads close to the body to avoid strain injuries.

A person who spots a business opportunity, arranges the money, people and other resources needed, and takes the personal risk of running the venture.

A written document describing a proposed venture's product, target customers, competition, marketing, costs, expected income and funding needs.

Earning a living by running one's own trade or small business instead of working for an employer, common in retail through small shops, stalls and online selling.