Business of Retail Vocabulary

Front

_________ is the process of selling products and or services to customers in order to earn a profit.

Back

Retailing

Front

Retailing is the process of selling products and or services to _______ in order to earn a profit.

Back

Customers

Front

A _________ is a business or person that sells things to customers

Back

Retailer

Front

___________ are known as shoppers.

Back

Customers

Front

________ are physical goods that are bought and sold.

Back

Products

Front

_________ are intangible transactions such as lawn mowing or hair care that cannot be physically owned by the customer.

Back

Services

Front

The ________ ___________ is an interconnected system of approaches for meeting the goal of retailing which is to provide customers with merchandise and services.

Back

Retail Ecosystem

Front

_________ __________ offers customers the opportunity to interact with multiple options in their ecosystem which may or may not be connected.

Back

Multichannel Retailing

Front

Customers have an option to shop at Walmart through physical stores, ________, ________, or ___________ which make up a Multichannel Retailer.

Back

online, retailer app, or social media

Front

___________ ___________ is similar to Multichannel approach but allows customers to interact with all available channels through a seamless customer service experience.

Back

Omnichannel Retailing