Fashion Merchandising - Glossary of Retail Terms
Retail Glossary
2/10 Net 30: 2% is the discount rate if payment is made within ten days. Otherwise, payment is due in 30 days. 3/10 ROG: 3% discount is allowed within 10 days of receipt of goods. 8/10 EOM: 8% discount is allowed if the invoice is paid within 10 days from the end of the month. Add on sale: Additional items customers buy due to in store suggestions or promotions. Ad slicks: Camera-ready ad, usually on glossy paper. Many vendors supply these for newspaper ads. Advertising: Paid message communicated through various forms of media and designed to influence the purchase behavior and thought patterns of the audience. Allocation: Suppliers determination of how much of (usually) scarce merchandise to assign to their customers. Allowance: Any price reduction given by suppliers to retailers for various reasons (late delivery, damaged merchandise, below standard quality, overstock, etc.). Anchor tenants: Major stores that serve as the primary draw of customers to a shopping center. As is: Merchandise sold in its current, often slightly flawed, condition. Assets: Those items of value the company owns such as cash in the checking account, accounts receivable, inventory, equipment, and property. Assignment: The transfer of title, right, or interest in certain real property. For example, if you sell your business and turn over your lease agreement to the new owner, that is an assignment. Authorized shares: The total number of shares the corporation is permitted to issue. Automatic ordering: A feature in certain software systems of stores to automatically create suggested orders based on preset criteria for minimum and maximum stocking levels. Average margin: The difference between what you pay for all the goods you sell during a specific period, and what you buy them for, calculated as a percentage of the selling price of the goods. Average markup: The difference between what you pay for all the goods you sell during a specific period, and what you buy them for,
2/10 Net 30: 2% is the discount rate if payment is made within ten days. Otherwise, payment is due in 30 days. 3/10 ROG: 3% discount is allowed within 10 days of receipt of goods. 8/10 EOM: 8% discount is allowed if the invoice is paid within 10 days from the end of the month. Add on sale: Additional items customers buy due to in store suggestions or promotions. Ad slicks: Camera-ready ad, usually on glossy paper. Many vendors supply these for newspaper ads. Advertising: Paid message communicated through various forms of media and designed to influence the purchase behavior and thought patterns of the audience. Allocation: Suppliers determination of how much of (usually) scarce merchandise to assign to their customers. Allowance: Any price reduction given by suppliers to retailers for various reasons (late delivery, damaged merchandise, below standard quality, overstock, etc.). Anchor tenants: Major stores that serve as the primary draw of customers to a shopping center. As is: Merchandise sold in its current, often slightly flawed, condition. Assets: Those items of value the company owns such as cash in the checking account, accounts receivable, inventory, equipment, and property. Assignment: The transfer of title, right, or interest in certain real property. For example, if you sell your business and turn over your lease agreement to the new owner, that is an assignment. Authorized shares: The total number of shares the corporation is permitted to issue. Automatic ordering: A feature in certain software systems of stores to automatically create suggested orders based on preset criteria for minimum and maximum stocking levels. Average margin: The difference between what you pay for all the goods you sell during a specific period, and what you buy them for, calculated as a percentage of the selling price of the goods. Average markup: The difference between what you pay for all the goods you sell during a specific period, and what you buy them for,