GlossaryMerchandising
What does Backorder mean in retail?
Backorders are a common occurrence in retail. They happen when an item that a customer orders is not currently in stock and has a delayed delivery…
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Category: Glossary
GlossaryMerchandising
COGS: Cost of Goods Sold for Retailers
Retailers need to track the cost of goods sold (COGS) to ensure they are profitable and reporting expenses to the IRS correctly. Considering that 60% of…
FashionGlossary
Fashion Seasons: The Calendar Dates Explained
Fashion is always changing, and keeping up with the latest trends can be a challenge. One way to stay on top of what’s in style is…
GlossaryMerchandising
What Is Retail Shrinkage?
Shrinkage, sometimes referred to as “shrink,” is the loss of inventory between when it arrives at your facility and when it’s sold or used. This issue…
GlossaryMerchandising
What is Dead Stock?
Dead stock is a common problem for retailers, resulting in excess inventory that takes up valuable warehouse space and affects the company’s bottom line. However, dead…
DTCGlossary
What is Direct-to-Consumer (DTC) Ecommerce?
Direct-to-consumer (DTC) is a sales strategy where manufacturers and consumer packaged goods (CPG) brands sell their products directly to their customers instead of selling them through…
GlossaryMarketing
What Is Brand Equity?
In today’s competitive landscape, building a strong brand identity is crucial to the success of any business. Creating a brand that resonates with customers and stands…
GlossaryMarketing
Average Transaction Value (ATV): How to Calculate It
Average transaction value (ATV) is a critical metric for retailers. It measures the average amount of money a customer spends on a single purchase, giving you…
GlossaryMerchandising
What is Inventory Aging?
The success of any retail business depends on many factors, but the most crucial one is the right inventory management. Location, marketing, decor, music, and displays…
GlossaryStrategy
What is Average Order Value (AOV)?
Average Order Value (AOV) is a metric that helps retailers understand their customers’ purchasing behaviours. An average order value tracks the average dollar amount spent every…