What does csl stand for in retail

Any organization that processes credit card payments needs to prove it is PCI compliant. Read more about PCI compliance in our guide. This is a detailed floor plan of a store. It visually represents the placement of products and product categories throughout a store on shelves, racks, etc.

A planogram is a helpful tool for thinking about how placement impacts purchase behavior and how retailers can be most efficient with their space. This stands for price look up. PLUs are often printed on the customer receipt to remind the customer what was bought. A short-term shop that keeps a physical space for a limited amount of time. Pop-ups can be set up anywhere — empty retail spaces, mall booths, parks, etc. This is a pricing strategy used by high-end retailers in which an item is priced at a high level to denote its exclusivity, quality, or luxury.

Prestige pricing is intended to attract status-conscious consumers or those who want to buy premium products. This is the process of sourcing, negotiating, and strategically selecting goods for your retail shop. There are four: introduction, growth in sales , maturity, and decline, and they show whether the expected sales are strong or poor. By paying close attention to the life cycle of each product, you can gather information to improve future product, promotions, and offerings.

A document that outlines the commitment on the part of the seller to deliver products or services to the buyer for a specific price. At the most basic level, a point-of-sale system includes the hardware and software that allows a retailer to check out customers, record sales, accept payments, and route those funds to the bank. But the right retail point of sale can do more than record sales.

With the right software integrations, it can help you run your entire business and affect your long-term growth. A brand that is not owned by a manufacturer but by the retailer or supplier. Retailers and suppliers buy the goods and market them under their name. This is a document used to communicate a purchase to an employer.

It can be used to approve, track, and process purchases as well. A purchase order usually indicates types, quantities, and agreed prices for products or services, as well as delivery dates.

This is an incentive offered to a buyer to purchase a certain quantity for a decreased cost per unit. A strategy that businesses use to build loyalty and create lasting relationships with customers.

There are numerous tactics retailers can use to reach those goals, including loyalty programs, first-class customer service, great return policies, or personalized experiences.

This is an advertising practice in which online ads are targeted to consumers based on their previous actions. RFID is used to take accurate measures of inventory, but retailers are also looking at how to use it to learn more about customers. The meaning of SKU can be confusing. This is a number usually eight alphanumeric digits that retailers assign to products to keep track of stock internally.

A SKU represents all the attributes of a product, including brand, size, and color. For example, one type of shoe could have 40 SKUs, in various combinations of sizes and colors. The difference is that SKUs are unique to a retailer, whereas a UPC applies to a product no matter what retailer is selling it. New retail and e-commerce practices that incorporate social media, user-generated content, or social interaction.

There are a variety of types of social commerce: peer-to-peer marketplaces, group buying, peer recommendation sites, social network—driven sales, and user-curated shopping, to name a few.

The consumer practice of examining products in a store and then purchasing them online at a lower price. Showrooming becomes more and more common as mobile usage increases and new price-check and shopping apps emerge. When a buyer likes and trusts a store, and therefore systematically goes there again and again to make purchases.

A retailer can encourage this with loyalty programs and special promotions for regular customers. The management of the flow of goods and services, involving the movement and storage of raw, work-in-process, and finished goods from the point of origin to point of consumption. The retail practice of tailoring what you do — everything from your products and store design to marketing and communication — for a specific group of people, or tribe.

The goal of this is not to appeal to the public or a mass market, but to capture a niche. This is a rental agreement on a commercial property in which the tenant agrees to pay all ongoing expenses of the property like real estate taxes, building insurance, and maintenance as well as things like rent and utilities. This is a typical merchandising fixture used to display clothing. It can have straight or waterfall arms. This measurement is an average of the amount of items sold during each sales transaction.

This is the practice of creating visually appealing displays, in-store experiences, and designs that drive traffic and maximize sales. Computer software designed for managing the movement and storage of materials throughout a warehouse. The system is usually divided into three operations: putaway, replenishment, and picking.

Running a business is no easy feat, but Square is here to help. See how Square works. Back to Town Square. Anchor store An anchor store is one of the largest — if not the largest — retail stores in a shopping center or mall.

ATS This is the acronym for average transaction size, or the average amount spent by a customer in a single transaction or purchase. ATV This stands for average transaction value. Bar code A machine-readable code, which has alternating dark and light bars. Big 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.

Brick and click This term is used for retailers that integrate their e-commerce site and their traditional brick-and-mortar stores. Bulk The classic definition refers to distributing raw materials such as coal, iron, and grains that are stored and transported in large quantities.

Bundled pricing Companies that bundle together a package of goods or services to sell for a lower price than they would charge if the customer bought all of those goods or services separately. Card file According to PCI-compliance standards, unsecured card files are generally a high-risk way to store and manage sensitive customer information. Carrying cost This can also be referred to as a holding cost. Cashwrap This is the main checkout area of a retail store, where retailers set up their POS and customers pay for items.

Chargeback A chargeback happens when a customer disputes a charge from a business and asks the card issuer to reverse it. Chargeback rebuttal letter If a business wants to refute a chargeback, it might send a chargeback rebuttal letter to persuade the customer to withdraw the dispute.

Cross merchandising This refers to the retail practice of displaying products from different categories together to create add-on sales. Clienteling This term characterizes activities retailers use to build relationships with their customers. Cloud POS A cloud POS is a web-based point-of-sale system that lets you process payments through the internet, rather than on your local computer or servers.

Contactless payments Contactless payments are powered by near field communication, or NFC. Consumer packaged goods This describes products that are in a form that is ready for sale to the consumer.

Convenience products These are consumer products that are routinely purchased by customers, who usually give little thought or planning to them. Cost of goods sold The accounting term used to describe the total value or cost of products sold during a given time period.

CRM Customer relationship management is an online system for managing relationships with your current and prospective customers, and stores a directory of their information online. DC This is an acronym for a distribution center. Drop shipping This refers to an arrangement between a retailer and a manufacturer in which the retailer transfers customer orders to the manufacturer, which then ships the products directly to the consumer. Durable goods These are products that can be used daily, but have a long, useful life expectancy.

Dry storage Though dry storage can have other meanings in different industries, in warehousing it is typically used to describe non-refrigerated storage of food products, such as canned and dry goods. E-tailing Short for electronic retailing, this is the practice of selling products on the internet.

Everyday low pricing EDLP This is a product pricing strategy that promises consumers a consistently low price without comparison shopping or a sale. Fast fashion This is clothing that moves from the catwalk or fashion shows to stores quickly. Flash sales These are sales that are available for a limited time. Forecast An estimation of future demand for products or services. FIFO first in first out This is an inventory management cost strategy that assumes the first units of stock purchased are the first ones that are sold, regardless of whether or not they were.

Franchise This is a way that some businesses expand by distributing their goods and services through a licensing relationship. Green retailing This refers to the environmentally friendly business practices that retailers commit to. Gross margin The difference between how much an item costs and what it sells for. Impulse purchase Also called an impulse buy, this happens when a customer makes an unplanned purchase of a product or service right before checking out at the store.

Inventory management This is a system a retailer uses to make sure the right inventory is in the right place, at the right time, and in the right quantity. Inventory turnover The average number of times that inventory on hand is sold or used during a specific time period.

Unlike other retailers, we know that when people are shopping the last thing they want is the hard sell. Before the end of the year, the retailer is set to open two new stores in Coventry and Stockton-on-Tees and plans to open its fifith UK distribution centre in Rugby before Christmas. Next year it plans to open nine new stores, increasing its estate by a third, after consumer confidence in big-ticket items has grown, according to Sofaworks. With strong evidence of rising consumer confidence, our trading performance and plans for next year mean we are perfectly positioned to capitalise.

Sofaworks has also strengthened its top team for the new year, appointing former Lloydspharmacy head of retail operations Kevin Snowball as head of retail, while former FloorsGo chief executive Simon Farnsworth has been hired as its new head of finance. Jason Glover, ex-head of IT at travel brand Kuoni, has been appointed chief information officer at Sofaworks. Sofology — the furniture retailer formerly known as Sofaworks — has reduced its full-year pre-tax losses after a healthy rise in sales.

Change excuses to suit them. Say it's our fault and we will have to pay. Will never buy from them again and will let everyone know what horrible company they are never ever buy anything from them.

Hi Jane I am in agreement with your comments. I have just brought 2 new sofa's from Sofaworks and one was not to my specification, so I went back to the shop to complain and like you they don't care the sales person called me a liar in not so many words i. I have have been in touch with customer service, complaints service and all they can say is the info in front of me from the store is I am seeking legal advice because I refused delivery 1st time so this meant I had nowhere to sit and I am disabled so floor is out of the question.

I would have come to some sort of arrangement if they were not so arrogant so arrogant and rude everyone can have a human error but not them.

We have not complained a out price, quality only about the error their sale staff made but you my as well talk to a brick wall. So any potential buyers beware ask what the codes are on the forms to check you will get what you asked for don't assume the staff have it correct.

Hi Jane I feel for you because their furniture is not cheap. Please read my essay on Sofaworks and please make any comments if you wish.