Retail Dictionary QUIZ (all terms) Worksheet

usually a well-known department store or retail chain
making the customer’s shopping experience go by much quicker
massive quantities of information that retailers can use to market their business
retailers that integrate their brick and mortar store with their ecommerce site
the main checkout area of a retail store
merchandise that has never been sold or has been sitting in inventory for a while
selling an item at a loss in order to attract more customers into a store (Example: many Black Friday "door busters")
identifying patterns or opportunities in various and diverse segments to bring about the best strategies for each group
the practice of selling goods over the Internet
sale events that take place for a limited time (Example: Zulily)
displaying or putting together products from different categories to drive add-on sales
environmentally-friendly practices that retailers use, such as offering recyclable bags instead of plastic ones
a devaluation of a product due to its inability to be sold at the intended price
an agreement between the retailer and the customer in which the retailer puts an item on hold for the shopper until it is paid off
strategy used by high-end retailers to convey exclusivity, luxury, or high quality
offering products that can be customized to the purchaser's preferences but with efficiency and cost savings
visual representation of a selling space that depicts how merchandise should be arranged
examples include services like ApplePay, Google Wallet, or PayPal
chip technology which allows retailers to improve their inventory accuracy and track buyer's behavior
the idea that clothing sizes have changed over the years whereby the same size garments have gone from larger to smaller numbers
bar codes which represent all the attributes of an item such as style - brand - size - color - etc.
the stages that a product goes through including introduction - growth - maturity - decline
retailers may use these people to gather feedback about the customer's experience