Across
- 2. type of competition where Businesses that offer different products or services but aim to satisfy the same customer need. For example, Smashburger sells burgers, and KFC sells chicken, but both fulfill the need to satisfy hunger.
- 6. Inventory loss from causes other than legitimate sales, such as theft, errors, or operational mistakes. Shrinkage is expressed as a percentage of sales during a specific inventory period and is used to benchmark retail losses.
- 7. A communication style focused on process, details, timelines, and well-thought-out plans. Individuals with this style value structure and clarity when interacting with others.
- 11. The practice of recommending additional products that complement a customer's purchase. These can include operational necessities (e.g., batteries for an electronic device) or items that enhance the overall experience (e.g., a case for a new phone).
- 12. A metric representing the total number of items included in a single transaction. Increasing UPT through techniques like cross-selling can help boost sales.
- 15. Type of mindset where belief that one's skills and abilities are static traits that cannot be developed or improved.
- 17. A productivity metric used to measure sales volume. The formula is: Sales per hour = Total sales dollars ÷ Total hours worked.
- 18. A customer motivated to be among the first to purchase the latest technology, fashion, or products, visit newly opened restaurants, or see the latest movies. They have an early-adopter mindset and enjoy being recognized as trendsetters.
- 20. A communication style in which individuals prioritize relationships, emotional connection, and empathetic language when interacting with others.
- 21. A retail model where customers can interact with multiple shopping options within a retailer's ecosystem. These channels, such as online, in-store, or mobile, may or may not be seamlessly connected.
- 23. The supply chain process of returning products from customers back to the retailer or manufacturer for processing, resale, repair, or disposal.
- 24. A retail model that integrates multiple channels—such as online, mobile, and in-store—into a seamless and cohesive customer experience through the use of technology.
Down
- 1. Products manufactured by a third party and sold under a retailer’s brand name. These products are exclusively available at the retailer’s stores.
- 3. type of data that uses Quantifiable information used by retailers to analyze customer behavior. Examples include household size, gender, age, income, education, occupation, and place of residence.
- 4. A communication style focused on big-picture ideas and outcomes. Individuals with this style prefer high-level overviews and may lose interest when discussions become overly structured or detailed.
- 5. A concise and persuasive sales pitch that can be delivered in the time span of a typical elevator ride. At about 30 seconds, or 100-150 words, it consists of approximately four to seven sentences, depending on their length.
- 8. A barcode that contains specific product information, including its description, price, tax status, and any applicable discounts or promotions.
- 9. type of benefits with advantages or positive outcomes that make a product appealing or valuable to the consumer.
- 10. A retail business owned by an individual, typically consisting of a single store or a small regional chain
- 13. type of shopper who makes quick purchasing decisions, often for inexpensive items that do not hold significant importance.
- 14. Type of shopper who seeks to be well-informed about their product choices. They thoroughly research products, read online reviews, check ratings, and compare prices before entering the store.
- 16. A customer focused solely on meeting their needs. Mission-driven shoppers typically shop with a list, prioritizing efficiency and avoiding distractions or unnecessary purchases.
- 19. A customer who views shopping as an enjoyable, leisure activity rather than a task to purchase specific items.
- 22. type of financing that involves A payment model in which a retailer or third-party lender provides financing for a purchase. Customers repay the loan in fixed monthly installments as part of the purchase agreement.