| DECA Retail Glossary
Glossary
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acquisition The takeover of a retail operation by
another company.
anchor A business,
usually a department store, that is particularly important to
a shopping center because it attracts a great deal of traffic.
audit tape
A record kept by the cash register of all the transactions
entered on the register. Describes the extent to which customers
are familiar with a product or company.
bill of lading A contract between a freight company
and a shipper regarding transportation, which includes the
exact contents of the delivery.
branch store A smaller
store operated by a department store that carries a limited
range of merchandise.
button ticket A pricing
ticket with a hook at the top that can be attached to a button.
buying office A central
office where buyers purchase merchandise for all stores in
a department store chain.
chain stores Two or more stores with similar characteristics,
owned by the same company.
classic A style that
does not lose popularity over time.
convenience products Merchandise
that is purchased frequently, without advance planning, including
staples, impulse items, and emergency items.
cooperative A group in
which several retailers pool their resources to buy products
at a discount from manufacturers; also called group buying. Back
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delivery receipt A receipt from a delivery driver
that indicates a delivery was made to a store.
department store A large
retail store that sells a variety of merchandise, organized
into departments according to the kind of merchandise.
differentiation The process
of distinguishing services or products through design.
directory A list of the
departments of a department store and their locations.
discount store A self-service
retail store with low markups. Example: Wal-Mart, Kmart.
dollar control A buying
method that depends on the amount of purchases, rather than
the number of items purchased.
durable goods Products
that can be used frequently and have a long life expectancy,
such as furniture, jewelry, and major appliances.
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electronic shopping Shopping over the Internet or
through a TV cable channel.
emergency items Products
that are purchased in an unusual situation when need is suddenly
high, such as umbrellas during a rainstorm.
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fad A fashion that gains and loses popularity very
quickly.
fashion The popularity
of a certain product, style, or appearance.
fashion cycle The process
of a fashion gaining and losing mass acceptance.
FIFO First in-first out;
a system of stock rotation in which the merchandise that is
received first by a store is the merchandise that is sold
first.
flying squad A group of
employees, especially in a department store, who are not assigned
to any specific department, but work wherever they are needed.
forward reserve stock
Reserve stock that is kept in a stock room near the selling
floor.
forward stock Merchandise
that is kept on the selling floor.
full background The rear
of a window display that completely covers the display, closing
it off from the store.
full-line Describes department
stores that carry a full line of merchandise, from appliances
and hardware to clothing and jewelry.
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good with important services A product/service mix
that offers a good that needs or is enhanced by services,
such as a service contract or warranty.
goods Tangible products
for sale that can be held or touched.
grade labeling Product
labeling that includes a quality rating for the product.
group buying A group
in which several retailers pool their resources to buy products
at a discount from manufacturers; also called a cooperative.
gummed label A pricing
ticket with adhesive on the back, used on cloth, leather,
and unpainted wood.
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hard line Describes all nontextile merchandise.
heterogenous products
Durable products that are different in quality, appearance,
and other features.
hole pin ticket A pricing
ticket used on paired items such as gloves.
home furnishings Refers
to all furniture and accessories for the home, including dishes
and glassware, rugs, and furniture.
homogenous products Durable
products that are similar in quality, but different in price
and require comparisons.
hypermarket A huge retail
store that is a combination of a drugstore, supermarket, and
discount store.
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image The impression customers have of a company
or service.
impulse items Products
that people purchase without planning for it, such as magazines
or candy bars.
informative labeling
Product labeling that includes the product's performance in
tests.
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leased department A part of a department store that
is actually leased out to another company and operated as
an independent store within the department store; common with
cosmetics companies.
limited line Describes
a department store that carries a limited amount of merchandise,
usually concentrating on clothing, accessories, and beauty
supplies.
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merchandising plan A strategy for actual and projected
sales for a specific period of time.
merger The combining
of two or more retail organizations into one company.
multiline drugstore A
store that sells a variety of health and beauty products,
plus some small appliances and household items, in addition
to prescription drugs.
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nondurable goods Products that are purchased frequently
and used in a short period of time, such as beauty supplies
and cosmetics.
nonmarking A pricing system
in which each individual item does not have a price tag, instead
a price is labeled on a bin or a shelf.
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open background Describes a window display
with a completely unobstructed view of the interior of the
store.
overerr A mistake made
when an employee enters an amount into the register that is
more than the sale price.
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partial background The rear of a window display
that is partially covered, but allows customers to see through
the display into the store.
patronage buying motive
A reason customers will shop at one store instead of another,
can be rational or emotional.
pin ticket The sort of
price ticket used on towels and washcloths that is attached
with a pin.
point-of-sale terminal
An electronic machine at a checkout station that feeds information
from product tags directly into a computer.
premarking A system in
which the manufacturer, rather than the retailer, marks merchandise
with the retail price.
preretailing A system
in which a duplicate purchase order is sent to receiving when
merchandise is ordered so that as soon as the merchandise
is received, it can be marked with the correct prices.
product/service mix The
number and kind of products and services a general merchandise
retailer will offer.
product/service planning The process of
deciding what the product/service mix will be.
profit center A section
of a store that earns money for the retailer.
proxemics The nonverbal
communication suggested by the space between two people.
pull policy A promotional
policy aimed at building strong consumer demand for a product.
push policy A promotional
policy aimed at markets with the intention of getting retailers
to stock a product in order to build supply in the marketplace.
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reserve stock Merchandise that is kept somewhere
other than the selling floor.
resident buying office
An office located in a central merchandising area where buyers
can receive information about products from a variety of manufacturers.
retailers Businesses
that buy goods from wholesalers or manufacturers and resell
them to customers.
retailing strategy A
strategic plan to adapt to changing technology and markets,
and meet company goals and objectives through retailing.
returns percentage The
relationship between returns and allowances, and sales, calculated
by dividing returns and allowances by gross sales.
ringseal ticket A pricing
ticket shaped like a butterfly bandage, used on jewelry and
lampshades.
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scrim A sheer fabric onto which pictures can be painted
to be used as a transparent backdrop in the theater and as
a visual merchandising prop in stores.
service A product/service
mix that offers only a service, with no accompanying product
needed or wanted, such as an insurance policy.
service with accompanying products
A product/service mix in which a service is the primary offering,
such as interior decorating, and products, such as curtains
and carpet, are offered to accompany and augment the service.
services Intangible items
for purchase, such as haircuts or tax advice, that provide
customer satisfaction without the ownership of a tangible
item.
shoplifting detection
wafer A small device attached to goods, especially clothing,
that sets off an alarm if it leaves the store.
shopping items Durable
goods that require a great deal of comparison before purchase,
such as appliances and furniture.
soft line Describes textile
products.
specialty products Products
that solve a specific want or need for specific customers,
often expensive products with special characteristics or brand
identity.
specialty store A store
that specializes in selling a specific kind of product.
specification buying Demands
made by retailers and wholesalers to manufacturers of the
products they sponsor and sell.
staples Products that
are purchased routinely for everyday use, with little decision-making,
and that must be in stock at all times, such as cleaning supplies
and food.
stockkeeping unit (sku) Each
item or group of related items in a unit control inventory
system.
store operations Includes
all functions of operating a store except merchandising, such
as customer service, protection, maintenance, and distribution.
string ticket A pricing
ticket attached with a piece of string.
supportive services Free
services offered to customers to increase convenience, make
shopping easier, and entice customers to buy more.
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tangible product A product/service mix that
offers only a tangible product for which the customer needs
no assistance and no other services are offered, such as most
groceries and back-to-school items.
textile merchandise Products
made from natural or manmade fibers, including clothing, curtains,
and bedding.
twig A small store operated
by a department store that carries only a very limited amount
of merchandise, usually focusing on a few related items.
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under-the-counter stock Merchandise that is kept
in drawers or cabinets where customers cannot reach them,
common with cosmetics counters.
undererr A mistake that
occurs when an employee enters an amount into the cash register
that is less than the sale price.
unit control A buying
method in which the buyer makes buying decisions based on
inventory and sales records, rather than the cost of items
purchased.
Universal Product Code (UPC)
Bar code used for electronic entry.
Universal Vendor Marketing (UVM)
Product code that appears as a series of numbers across the
top of a price tag.
unsought products Products
that consumers don't know about and aren't asking for.
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variety store
A store that focuses on low-cost, stock merchandise, with
a limited selection of low-cost furniture and appliances.
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warehouse club
A giant store that sells merchandise in bulk at low prices,
and in which customers must buy a membership in order to shop.
warehouse reserve stock
Reserve stock that is stored in a warehouse, with only one
example item on display.
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