Retail Terminology as Defined by Retail Minded

Big Box Stores: Commonly referred to by Retail Minded as the “big dogs”, big box stores
are stand alone stores that carry assorted merchandise. An example would be Macy’s or
Target. Big box stores may also be categorized as department stores, discount stores, or
warehouse stores depending on the store itself.
Boutique: Refers to small shops or stores that are independently owned and often sell a
product assortment that is not duplicated exactly in any other store.
Cash and Carry Wholesaler: A form of wholesale that sells products on the spot, usually
with cash only, to a purchaser who is then able toself carry the products out themselves
without having to wait for any time in between purchasing and delivery.
Cash Wrap: The place where a consumer goes to purchase product or services within a
store, usually consisting of a cash register machine as well as supplies, such as tissue
and bags, for purchases to be placed in.
Consumers: The final purchaser, or end user, of any product or service.
Dead Stock: Inventory in a store that has never been used or purchased by a consumer,
however is from a previous season and despite multiple attempts to sell it, this stock does
not sell. Dead stock is often a result of inexperienced buying, including lack of knowledge
of the customer base.
Demographics: Identifies population in groups based on age, gender, income,
occupation, education, religion, race, family size, family life style, and more. Government
studies often provide demographic information.
Discount: A reduction in the price of an item or transaction based upon the customer
making the purchase.
Email Blast: An email sent to a large group of people at once.
Kiosk: A free standing structure used in a public place, such as a mall, that is designed
to support product or a service to be sold to consumers. It is also used for interactive
opportunities and may be on a short term basis, such as when used during a festival.
Look Book: A book that is similar to a portfolio, however it represents a product line
rather than providing visual samples of one’s work history. The purpose of a Look Book
is to provide a “story”, “feeling”, or “inspiration overview” of the product assortment
through photographs of the product you want to sell.
Markdown: A devaluation of a product based upon its inability to be sold at the original
planned selling price.
Markup: Increase in the price of a product or service to create a profit margin for
business.
Manufacturer: Refers to hand made or machine constructed products that begin as raw
materials and are completed into finished goods that are for use or sale to wholesalers
as well as retailers.
Operating Expenses: The expenses involved in running a business.
Physchographics: Identifies life styles and stages that appear to influence consumer
shopping decisions. Includes activities, beliefs, habits, opinions, and more.
Retail: The business of selling services or products that will ultimately be sold to
consumers. Includes manufacturers, wholesalers, and retailers.
Retailer:A fixed location, including store fronts, the internet, kiosks, and vending stations,
that sell products or services to consumers.
Retail Supply Chain: A product is created at a manufacturer, is sold to a wholesaler,
then is sold again to a retailer who ultimately sells the product to the final purchaser, the
consumer.
Visual Merchandising: The art of using effective design and merchandising ideas that
will enhance the shopping experience of a store as well as increase sales and foot traffic.
Wholesaler: An individual or company that sells a product or service to a retailer and
does not sell this product or service directly to consumers.