Nrf Business of Retail

Front

What does 'inventory' refer to in a retail context?

Back

The stock of goods available for sale.

Front

What is a 'retail outlet'?

Back

A place where goods are sold to consumers.

Front

What is the primary focus of a retail business?

Back

Selling goods to consumers.

Front

What is a 'retail price'?

Back

The price at which goods are sold to consumers.

Front

What is the opposite of 'retail'?

Back

Wholesale.

Front

What is the role of a retailer in the supply chain?

Back

To sell products directly to consumers.

Front

What is 'merchandising' in retail?

Back

The activity of promoting the sale of goods at retail.

Front

What does 'customer service' mean in retail?

Back

Assistance provided to customers before, during, and after a purchase.

Front

What is 'market segmentation' in retail?

Back

The process of dividing a target market into smaller, more defined categories.

Front

What is 'brand loyalty'?

Back

The tendency of consumers to continue buying the same brand over time.