When the two are integrated, it allows you to provide seamless web-to-store services, like ‘click and collect’ and in-store returns for products bought online.īulk: The classic definition refers to distributing raw materials (such as coal, iron and grains) that are stored and transported in large quantities. When you’re looking at big data (like census information or tweets), you’re looking to analyse customer behaviours, demographics, social information and more.īrick and click: This term is used for retailers that integrate their e-commerce site and their traditional brick-and-mortar shops. Bar codes help you track inventory going in and out of the shop.īackorder: When a specific quantity of an item could not be filled by the requested date, it’s on backorder.īig data: This refers to a massive data set that is so large you would need a sophisticated program - or a data scientist - to make sense of it.
SOFTWARE SIMULAR TO MOCKSHOP VISUAL RETALING CODE
Bar codes can be universal product code (UPC) or any other numerical format. The spacing between the bars signals to the reader what the numerical code is. Like ATS, this is the average amount customers spend every time they make a purchase.īar code: A machine-readable code, which has alternating dark and light bars. This metric is a valuable way to determine whether the size of your sales is growing - ideally, you want increasingly larger sales over time.ĪTV: This stands for average transaction value. It is calculated by dividing the total pound value of sales during a given time by the number of transactions during that time. In retail, it can be used in things such as shoppable catalogues, apps that let you see in-store deals by using your phone’s camera and virtual fitting rooms.ĪTS: This is the acronym for average transaction size, or the average amount spent by a customer in a single transaction or purchase.
Also known as a draw tenant, anchor tenant or key tenant.Īugmented reality (AR): This principle is about supplementing the user’s physical world with virtual things, so they appear to be in the same environment. Usually a department store or supermarket, this shop helps drive foot traffic, making it a great neighbour for smaller retailers. Our retail dictionary can help you navigate all of the lingo you’re hearing day-to-day and keep you up to date with the latest trends.Īnchor store: One of the largest - if not the largest - retail shop in a shopping centre. Knowing the retail terms that are used in shops and online is key to advancing and having your operations run smoothly. If you’re new to the retail business, it can be hard to keep up with the jargon used in the industry.
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