Retail key terms

The business makes neither a profit nor a loss; their costs are equal to the money that is coming in from sales

• Profit

• revenue

• break-even

• cost

selling goods and services over the internet

• conversion rate

• e-commerce

• revenue

• footfall

Business(es) who are doing/selling something similar to you that you are trying to do better than

• e-commerce

• revenue

• cost

• competitor

something you have to pay for

• Revenue

• Cost

• Competitor

• footfall

the money taken in from selling products/services (also known as income or turnover)

• Revenue

• Profit

• Conversion rate

• Footfall

This is the measure of how much sales revenue is taken in compared to the number of people walking through the door.

• Footfall

• Profit

• Conversion rate

• Loss

money earnt from a business because the revenue is greater than the costs

• Revenue

• Profit

• Conversion rate

• Competitor

the measure of how many people walk into a shop

• Conversion rate

• Footfall

• Revenue

• Break-even

Selling of goods and services using a device such as a phone through apps

• E-commerce

• Revenue

• M-commerce

• Physical stores

Which of the following is an advantage of selling online?

• Websites can be vulnerable to hackers

• It's open 24/7

• Websites can be expensive to set up

• Not everyone wants to shop online