The number of different categories or classifications of merchandise offered
Assortment Breadth
A buying plan that projects the variety and quantity of specific stock-keeping units to be carried by a store or department to meet customer demand
Assortment Plan
A plan that describes the types and quantities of merchandise to purchase for a department or store for a specific time epriod and for a set amount of money
Buying Plans
activity of purchasing only one category classification of merchandise, often done by chain store buyers. Also called central buying.
Classification Buying
retail employees who check the merchandise assortments, prices, ambiance, and service offered in competing and noncompeting stores, as well as the advertising, displays, and knowledge and demeanor of salespeople
Comparison Shoppers
Items that supplement or accessorize other basic products
ComplementaryProduct
activity of department store buyers who purchase merchandise for only their own departments
Departmental Buying
the exchange of merchandise to individual customers in return for money or credit;personal selling
Direct Selling
redeuctions of the original retail price granted to store employees or special customers
Discounts
A financial buying budget for planned stock, sales, and profit of a department or store for a six month period
dollar merch planning
vendor shipped items in a condition to be put directly on the retail shelf or fixture without any additional preparation
FRM
nonpersonal promotion aimed at the public or a large general audience
Indirect Selling
difference between the previous selling price of an item and the reduced selling price
Markdown
amount added to the cost of merchandise to determine the selling price
Markup
circle of ongoing planning, buying and selling activity
Merchandise cycle
dollar or merchandise unit amount that buyers are permitted to order for their stores for a specific time period
OTB
merchandise executive responsible for selecting and purchasing goods
Retail buyers
retailer submits specifications to a manufacturer about products and quality
Specification Buying
smallest unit for which sales and stock are kept
sku
difference between book inventory according to records and physical inventory
Stock shortage
calculated number that shows dollar sales volume in relation to dollar value of average inventory
stocksales ratio
number of times the average inventory on hand is sold and relpaced in a given period
stock turnover