Retail is the sale of products directly to end users. Some retail vocabulary terms are listed below.
A retail store is a store that sells directly to end users. Walmart is an example of a retail store. Walmart only sells to people who are going to use their products. They do not sell to companies that resell their products.
An online retailer sells products to end users over the internet. Amazon is an example of an online retailer. They sell products on their website, but they do not have actual stores that you can go to.
A brick-and-mortar retailer is the opposite of an online retailer. Brick-and-mortar retailers sell their products in stores, not online or through catalogs. A supermarket that only sells its products in their store is an example of a brick-and-mortar retailer.
A bricks-and-clicks retailer is a retail store that sells products both in stores and online. An example of a bricks-and-clicks retailer is the Vitamin Shoppe. They have physical stores where they sell vitamins and nutritional supplements, and they also sell their products on their website.
A retail chain is a group of stores that are owned by the same company. Barnes and Noble is an example of a retail chain. They have many stores in the United States which are all similar in appearance and in the product selection they offer. All Barnes and Noble stores are owned by the same company.
big box retailer
A big box retailer is a very large retailer that is usually part of a retail chain. Walmart and Target are examples of big box retailers. They are very large stores that offer a wide selection of products. Both companies are also retail chains.
independently owned retail store
An independently owned retail store is not part of a chain.
mom and pop store
Mom and pop store is a term used in the United States to refer to a small, independently owned business with a small number of employees. A small bookstore not owned by a larger company would be an example of a mom and pop store.
A department store is a large retail store that offers many different types of products. Sears and Macy’s are examples of popular department stores. These stores have different departments offering many different products. Customers can find sporting goods, clothes, home appliances, electronics, and more at these stores.
A discount store is a type of retail store that offers merchandise at a lower price than many of its competitors.
A specialty store is a type of retail store that specializes in one kind of product. Yankee Candle Company is an example of a specialty store. They specialize in candles and do not sell many other products.
A convenience store is a store in a convenient location which offers a small number of goods for purchase. These items are often priced higher than they are at other retail locations. Convenience stores usually have extended hours, and some are open 24 hours a day.
warehouse club store
Warehouse club stores sell products at low prices. Many times, these products must be purchased in a high quantity. In order to shop at a warehouse club store, customers must pay an annual membership fee. People who are not members cannot purchase products from warehouse club stores.
A supermarket is a retail store that mainly sells food.
A mall is a large building that contains many retail stores.
A dollar store is a store that sells products for a dollar.
The storefront is the part of a store that faces the street. It is what a customer sees before entering the store.
Customer service is the assistance a customer gets from a business or the people who work for a business.
Employees of retail stores are often called store associates.
Merchandise refers to the products that a store sells.
Stock refers to the products that are physically present at a store and available for sale.
In-stock means that a product is available for sale.
Out-of-stock means that a product is not available for sale.
A sale is an event in which products are sold at a discounted price.
A discount is a reduction in price.
To discount something means to lower the price.
A return occurs when a customer brings or sends back a product for a refund.
To return a product means to take or send a product back to the store for a refund.
An exchange occurs when a customer changes one product for a different one. This occurs after the product has been purchased.
To exchange means to change a product for a different one after the product been purchased.
A refund is the money given back to a customer who is not happy with a product or service.
To refund someone’s money means to give money back to a dissatisfied customer.
A coupon is a piece of paper that allows a customer to receive a discount on a certain product or service.
A cash register is the machine used for accepting payment, calculating change, and keeping a record of sales.
A cashier is an employee who works at the register. This person receives payment, makes change, gives receipts, and handles returns and exchanges.
A store circular or store flyer is a document provided by retail stores which shows the sales and promotions during a certain time period.
Payment method refers to how someone pays for a product. Payment methods include cash, credit card, debit card, gift card, and check.
The checkout counter is the area of a store where customers pay for products.
An aisle is the space between shelves where customers walk.
A receipt is a piece of paper from a store that shows the details or a customer’s purchase. A customer receives a receipt after purchasing items at the check-out counter.