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Retail : Jargon buster

More in this section

  1. Overview
  2. Job roles
  3. Entry and progression
  4. Typical employers
  5. Opportunities abroad
  6. Future trends
  7. Jargon buster
  8. Contacts and resources

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Case studies

  • B2B - business-to-business (information shared between businesses).
  • B2C - business-to-consumer (as above but information is between business and end consumer).
  • BOGOF - buy one get one free. A special offer or promotion.
  • EDLC - everyday low cost. Store trading strategy.
  • EDLP - everyday low price. Store trading strategy.
  • EPoS - electronic point of sale. Data recorded at checkout from bar-code information. Used for forecasting and stock control.
  • GDA - gift with purchase.
  • GP - gross profit.
  • Footfall - consumer traffic into a store or area of a store.
  • Forecast - calculation of future sales.
  • Gross margin - difference between cost price and selling price. Expressed as £ or %.
  • Hypermarket - a store with a sales area in excess of 40,000 sq ft (3,600 sq m).
  • JIT - just in time. Delivery process.
  • Like for like comparison - comparing sales figures from the current period with sales figures from the same period the previous year.
  • Merchandising - allocation of shelf space and layout of products.
  • PoS - point of sale. The physical location where a product is displayed.
  • RPI - Retail Price Index
  • RSP - retail selling price. Price sold by retailer to the consumer.
  • SBO - sales-based ordering. System of product ordering using EPoS data to maintain stock.
  • SEL - shelf edge label. Identifies product on the shelf with price, product description and barcode.
  • Shrinkage - is the proportion of stock which is lost through damage, theft or loss.
  • SWOT - strengths, weaknesses, opportunities and threats. Used to analyse competition.
  • T-commerce - sales carried out through TV.
  • USP - unique selling proposition. The real difference in a product, for example, taste or packaging.
  • YOY - year-on-year. Comparison of results with the same time in previous years.
  • WSSI - weekly stock and sales intake.
 
 
 
AGCAS
Written by Zoe Arch, University of the Arts, London
Date: 
December 2010
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