WorksheetsBusiness of Retail Credentialing Review
Total questions: 20
Worksheet time: 10mins
a merchandise inventory determined by keeping a continuous record of increases, decreases, and balance on hand
Excessive Inventory
Total Inventory
Periodic Inventory
Perpetual Inventory
most common injury in retail stores
Slips, trips, and falls
struck by
workplace violence
ladder mishaps
Any form of direct contact between a salesperson and a customer.
Personal Selling
Sales Promotion
Advertising
Publicity
wearing an expensive item once for an event and then returning it for a full refund
Wardrobing
Return fraud
Automated fraud
Switch Fraud
producing paid announcements for products
Advertising
Publicity
Personal Selling
Salesl Promotion
Rivalry between or among businesses that offer similar types of goods or services
Direct Competition
Omni-channel retailing
Indirect competition
Replacement competition
accounts for over 30% of all theft
Internal theft
Account takeover fraud
External theft
Receipt fraud
attention given to something or someone by the media
Publicity
Advertising
Sales Promotion
Direct Marketing
complete listing of all merchandise a retailer owns
Total Inventory
EAS (Electronic Article Surveillance )
Available on-hand inventory
Safety Stock
something striking an individual, such as a product falling off of the shelf
Struck by injury
Slip, trip and fall
Struck against injury
Negligence
the direct costs attributable to the production of the goods sold by a company
COGS (Cost of Goods Sold)
Revenue
Profit
Expenses
The quantifiable metrics a company uses to evaluate progress toward critical success factors (sales, customer retention, etc)
KPIs (Key Performance Indicator)
Gross Profit
Loss Leaders
Inventory Tracking System
Number of units within the total inventory that are available to sell
Available or on-hand inventory
Total Inventory
Safety Stock
EAS (Electronic Article Surveillance)
A merchandise inventory determined by counting, weighing, or measuring items of merchandise on hand, using a predetermined schedule.
Periodic Inventory
Perpetual Inventory
Total Inventory
Excess Inventory
when a customer purchases a new item that works fine and then they return a damaged or broken identical item that they already owned.
Switch Fraud
Return Fraud
Automated Fraud
Identity Fraud
uses a chip in a tag or label to store information, and information is transmitted from, or written to, the tag or label when the chip is exposed to the correct frequency of radio waves.
RFID (radio frequency identification)
Non-Electric Ink Tags
PLU - price look up
POS (Point of Sale)
gross profit divided by revenue
Profit Margin Percentage
Revenue
Net Profit
Gross Profit
interconnected system of approaches for meeting the goal of retailing to provide customers with merchandise they want.
Retail Ecosystem
PLU - price look up
markup pricing
Keystone pricing
the marketing of two or more products in a single package price.
Bundle Pricing
Prestige Pricing
Discount Pricing
Odd Pricing
Short-term incentives to encourage the purchase or sale of a product or service (featured sale items, coupons, samples, etc)
Sales Promotion
Direct Marketing
Publicity
Advertising
