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DECA Retail Glossary

Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z


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.

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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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