199 Multiple choice questions

Definition: A policy that allows customers to buy items online and then return them in-store.

• Order By Phone, Return By Mail

• Buy Online, Return in Store (BORIS)

• Rent Online, Exchange in Store

• Buy in Store, Return Online

Definition: When customers order online or from an app and then arrive at the store to pick up their item right outside at a designated area.

• Drop shipping

• Curbside pickup

• Elevator pitch

• Available inventory (or on-hand)

The rate at which a store is able to sell its inventory. If a store's stock turnover rate goes down, it means the store is not selling its items as quickly.

• Store walkthrough

• Stock turnover rate

• Total inventory

• Retail margin percentage (or profit margin percentage)

The action of taking an item from a store without paying for it.

• Receiving

• Shoplifting

• Burglary

• Stocking

Definition: Technology used to electronically display digital images, video, web pages and text. Retailers use digital signs to attract in-store customers to merchandise, provide price and product information and share brand content and messaging with customers to enhance their shopping experience.

• Broadcast advertising

• Cookies

• Digital signage

• Mobile apps

In retail, this term usually refers to the amount of money paid by a retailer to the manufacturer or supplier for an item.

• Supply

• Cost

• Quality

• Time

The process that starts when inventory arrives at the store and ends when it leaves the store with a customer.

• Item retail

• Inventory life cycle

• None of these

• Inventory shrinkage or shrink

The number of units within the total inventory that are available to sell.

• Augmented reality (AR)

• Available inventory (or on-hand)

• Cost of goods sold (COGS)

• Cross-selling

This fraudulent activity occurs when a thief takes a lower-priced item out of a package and replaces it with a higher-priced item.

• Package switching

• Sweet hearting

• Ordering

• Price skimming

A document, often now in the form of an email or text message instead of paper, that serves as confirmation of a purchase.

• Receipt

• Contract

• Application

• Certificate