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Like For Like
Like for like (LFL) growth is a measure of growth in sales, adjusted for new or divested businesses. This is a widely used indicator of retailers' current trading performance. The adjustment is important in businesses that show a significant dynamic of expansion, disposals or closures. at moneyterms.co.uk To compare sales figures from different periods is only meaningful, as a measure of the effectiveness of the sales function, when using the same basis for measurement. One method compares the latest year's sales only to those from activities or locations that were in effect the previous year as well. This method would ignore sales that were only possible this year, for reasons such as a or [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Growth
Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of increase in the real gross domestic product, or real GDP. Growth is usually calculated in real terms – i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the prices of goods produced. Measurement of economic growth uses national income accounting. Since economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure. The economic growth-rates of countries are commonly compared using the ratio of the GDP to population (per-capita income). The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate represents the trend in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Point Of Sales
The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment. It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed but can also be dispensed with or sent electronically. To calculate the amount owed by a customer, the merchant may use various devices such as weighing scales, barcode scanners, and cash registers (or the more advanced "POS cash registers", which are sometimes also called "POS systems"). To make a payment, payment terminals, touch screens, and other hardware and software options are availabl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Window Shopping
Window shopping, sometimes called browsing, refers to an activity in which a consumer browses through or examines a store's merchandise as a form of leisure or external search behaviour without a current intent to buy. Depending on the individual, window shopping can be a pastime or be used to obtain information about a product's development, brand differences, or sale prices. The development of window shopping, as a form of recreation, is strongly associated with the rise of the middle classes in 17th and 18th century Europe. Glazing was a central feature of the grand shopping arcades that spread across Europe from the late 18th century. Promenading in these arcades became a popular 19th-century pastime for the emerging middle classes. Traditionally, window shopping involves visiting a brick-and-mortar store to examine the goods on display, but it is also done online in recent times due to the availability of the internet and e-commerce. A person who enjoys window shopping is k ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wardrobing
Return fraud is the act of defrauding a retail store by means of the return process. There are various ways in which this crime is committed. For example, the offender may return stolen merchandise to secure cash, steal receipts or receipt tape to enable a falsified return, or use somebody else's receipt to try to return an item picked up from a store shelf. Return abuse is a form of "friendly fraud" where someone purchases products without intending to keep them. Perhaps the best-known form of this abuse is "wardrobing" or "free renting" – in which the person makes a purchase, use the product(s), and then returns the merchandise. The retail industry experiences a significant fraud and abuse problem, losing money in the range of $24 billion per year, roughly 7% of all returns and exchanges. Return fraud and theft have been reported to lead to price increases for shoppers. Some stores create strict return policies such as "no receipt, no return" or impose return time restriction ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Visual Merchandising
Visual Merchandising is the practice in the retail industry of optimizing the presentation of products and services to better highlight their features and benefits. The purpose of such visual merchandising is to attract, engage, and motivate the customer towards making a purchase. Visual merchandising traditionally occurs in brick and mortar stores using a blend of lighting, color combinations, and articles of decor to stimulate an observer and generate interest. History When giant 19th century dry goods establishments like Marshall Field & Co. shifted their business from wholesale to retail, the visual display of goods became necessary to attract consumers. Store windows were often used to attractively display the store's merchandise. Over time, the design aesthetic used in window displays moved indoors and became part of the overall interior store design, eventually reducing the use of display windows in many suburban malls. In the 20th century, well-known artists such as Sal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shopping
Shopping is an activity in which a customer browses the available goods or services presented by one or more retailers with the potential intent to purchase a suitable selection of them. A Retail#Shopper profiles, typology of shopper types has been developed by scholars which identifies one group of shoppers as recreational shoppers, that is, those who enjoy shopping and view it as a leisure activity.Jones, C. and Spang, R., "Sans Culottes, Sans Café, Sans Tabac: Shifting Realms of Luxury and Necessity in Eighteenth-Century France," Chapter 2 in ''Consumers and Luxury: Consumer Culture in Europe, 1650-1850'' Berg, M. and Clifford, H., Manchester University Press, 1999; Berg, M., "New Commodities, Luxuries and Their Consumers in Nineteenth-Century England," Chapter 3 in ''Consumers and Luxury: Consumer Culture in Europe, 1650-1850'' Berg, M. and Clifford, H., Manchester University Press, 1999 Online shopping has become a major disruptor in the retail industry as consumers ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Density
Sales density is a measure of performance in retailing. It is the revenue generated for a given area of sales space, and is presented as a monetary value per square metre. The higher the figure, the more efficiently the floorspace is being used.Planning Dept , Elmbridge Borough Council It is often quoted alongside other indicators such as like for like sales.How do ret ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retailtainment
Retailtainment is retail marketing as entertainment. In his book, ''Enchanting a Disenchanted World: Revolutionizing the Means of Consumption'' (1999), author George Ritzer George Ritzer (born October 14, 1940) is an American sociologist, professor, and author who has mainly studied globalization, metatheory, patterns of consumption, and modern/postmodern social theory. His concept of McDonaldization draws upon M ... describes "retailtainment" as the "use of ambience, emotion, sound and activity to get customers interested in the merchandise and in a mood to buy." Sometimes called "inspirational retailing" or "entertailing," it has also been defined as "the modern trend of combining shopping and entertainment oppoortunities as an anchor for customers." In 2001, Codeluppi described it as a way for marketers to "offer the consumer physical and emotional sensations during the shopping experience." And, in an article entitled "Using sonic branding in the retail environment" in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Software
Retail software is computer software, typically installed on PC-type computers post 2005, delivered via the Internet (also known as cloud-based). Traditionally this software was delivered via physical data storage media sold to end consumer but very few companies still provide their software using physical media. The software is typically sold under restricted licenses (e.g. EULAs) or in the case of cloud-based software sold as a Software-as-a-Service (SaaS) model. Types Cloud-based software: this is software that is not installed on a user's device but delivered on-demand via the Internet to the end user's device(s) either through web-based apps or native apps (iOS and Android). Most new software companies provide both or a combination of web, and native apps which may provide different functionality depending on the actual user in a client company. OEM Pack -HOW This is a licensed copy of software given by the software manufacturer to a computer manufacturer to pre-install on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Design
Retail design is a creative and commercial discipline that combines several different areas of expertise together in the design and construction of retail space. Retail design is primarily a specialized practice of architecture and interior design, however it also incorporates elements of industrial design, graphic design, ergonomics, and advertising. Retail design is a very specialized discipline due to the heavy demands placed on retail space. Because the primary purpose of retail space is to stock and sell product to consumers, the spaces must be designed in a way that promotes an enjoyable and hassle-free shopping experience for the consumer. For example, research shows that male and female shoppers who were accidentally touched from behind by other shoppers left a store earlier than people who had not been touched and evaluated brands more negatively. The space must be specially-tailored to the kind of product being sold in that space; for example, a bookstore requires many l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Retail Concentration
Retail concentration refers to the Market share, market-share generally belonging to the top 4 or 5 mass distribution firms present in a regional market, as a percentage of the total. Retail concentration is not simply a concentration ratio as is emerging in the food sector. This is due to two factors: the particular relevance retail is gaining on a global scale, and the particular shape of the food supply chain. In recent years, Retail Concentration moved ahead with fusions and acquisitions along the entire food supply chain. We can assume with Grievink (2003) that in a few years there will be only 5 dominant actors in the globalised food chain. The same researcher states that in the 90's the top-5 food manufacturers could count on twice the cash flow of the top-5 retailers. Nowadays the relation is inverted: the top 5 retailers can count on twice that of the top-5 manufacturers. Thus, the food chain has become increasingly Vertical integration, vertically integrated, with global ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sales Promotion
Sales promotion is one of the elements of the promotional mix. The primary elements in the promotional mix are advertising, personal selling, direct marketing and publicity/public relations. Sales promotion uses both media and non-media marketing communications for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability. Examples include contests, coupons, freebies, loss leaders, point of purchase displays, premiums, prizes, product samples, and rebates. Sales promotions can be directed at either the customer, sales staff, or distribution channel members (such as retailers). Sales promotions targeted at the consumer are called consumer sales promotions. Sales promotions targeted at retailers and wholesale are called trade sales promotions. Sales promotion includes several communications activities that attempt to provide added value or incentives to consumers, wholesalers, retailers, or other organizational customers t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
