GlossaryMerchandising
What is Retail Markdown Mean?
Markdown pricing is a necessary evil for retailers. It helps them reduce the price of products to increase sales and clear out inventory. However, markdowns must…
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Category: Glossary
GlossaryMerchandising
Retail Math Formulas Cheat Sheet + Examples
Retail math is a set of skills that enables managers, sales associates, and other retail employees to perform essential tasks at both the retail and manufacturer…
GlossaryRetail
What is an Open-Air in Retail: Shopping Center
Open-air shopping centers, also known as strip malls, have been gaining popularity in recent years due to the decline of traditional enclosed malls. Unlike their enclosed…
GlossaryRetail
What Is Customer Lifetime Value (CLV) and How To Calculate It
Customer lifetime value (CLV) is a crucial metric for businesses of any size. It provides insight into the total revenue a business can expect from a…
GlossaryMerchandising
Sell Through Rate: How to Calculate
Sell-through rate is use to determine how much inventory they sell in a certain amount of time. Learning how to calculate and track this figure can…
GlossaryReal Estate
What is a Brick and Mortar store?
Brick and mortar retail has been around for centuries, but it has evolved with time. The term “brick and mortar” (also sometimes used as “bricks and…
GlossaryMarketing
What is EDLP (Everyday Low Pricing)
Everyday Low Pricing is a strategy where the products are provided to consumers at a lower cost or a discounted price over a longer time at…
GlossaryMerchandising
What Is a Category Killer: Definition & Example
Category killers have been around for decades, but their impact on local businesses and the retail industry as a whole has only become more apparent in…
GlossaryLuxury
What is Consignment: Business Model Explained
Consignment selling is a business model that allows individuals or businesses to lend out their items to a shop that contracts to sell them at an…
BusinessGlossary
What is Off-Price Retail?
Off-price retailing is a growing trend in the retail industry. It offers customers an opportunity to buy high-quality merchandise at lower prices compared to regular retail…