Shopping

an agreement to buy or sell goods or assets at a predetermined price but delivered and paid for at a later time

Farmers often use a futures contract to lock in a price for their crops ahead of the harvest, protecting themselves against price fluctuations in the market.

a limited-time discount or promotion that allows merchants to sell a large number of products at a significant discount

The e-commerce website launched a deal-of-the-day promotion, offering significant discounts on a different product each day to drive sales and customer engagement.

the amount added to the price of something to cover overheads and profit

The boutique applied a 50% markup to all its clothing items to cover operational costs and ensure a healthy profit margin.

a less expensive and unauthorized copy of something popular

The market was flooded with knockoffs of popular designer handbags, much to the dismay of luxury brands.

a card given by a business to customers as a reward for their repeat purchases, which can be used to earn discounts on future purchases

The supermarket introduced a loyalty card program, allowing customers to earn points on their purchases and redeem them for discounts or free products.

a purchasing contract by which a retailer agrees to hold merchandise secured by a deposit until the price is paid in full by the customer

The furniture store offers a layaway plan, allowing customers to reserve a sofa or bed and pay for it gradually over several months.

a single instance of a symbol, sign, or representation of a type

Each letter in the code is treated as a separate token.

the date until which a product is expected to remain at its optimal quality, but it may still be consumed after this date

When shopping for groceries, always check the best-before date to ensure the food is still fresh and safe to consume.

a type of retail model where customers pay for goods upfront and transport them from the store themselves

The small restaurant owner prefers to shop at a cash and carry wholesale store to buy ingredients in bulk at lower prices without the need for delivery services.

a retail service where customers order products online and pick them up in-store or at a specified location

During the busy holiday season, many shoppers prefer the convenience of click and collect, allowing them to order gifts online and pick them up in-store at their convenience.

to demand a lower price than one's rivals

In a competitive market, businesses may undercut their rivals to attract price-sensitive customers.

to spend a lot of money on something trivial that one does not really need

On special occasions, individuals often splurge on gifts or experiences.

to negotiate, typically over the price of goods or services

I don’t like to haggle; I prefer paying the price listed.

to offer a higher price than someone else especially in an auction

At the auction, Sarah was determined to outbid everyone else for the vintage painting, eventually winning it with the highest offer.

to cheat someone by giving back less money than owed

The cashier shortchanged me by a few dollars.

to request or take an order for a product that is not currently in stock, to be delivered when it becomes available

The customer back-ordered the popular laptop until the next shipment arrived.

a sales promotion where customers receive an additional product at no extra cost when purchasing one

The store's BOGOF on all summer clothing attracted a lot of customers looking for a good deal.

the strategies and measures implemented to minimize theft, shrinkage, or losses within a retail or business environment

The retail loss prevention team conducted regular audits and surveillance to identify and address potential areas of risk within the store.

the act of shopping to improve one's mood or alleviate stress

After a long and stressful week at work, Sarah indulged in a bit of retail therapy, treating herself to a new outfit and accessories.

the practice of visiting a physical store to examine a product before purchasing it online, often at a lower price

Many consumers engage in showrooming by browsing items at brick-and-mortar stores to get a feel for them before making their final purchase online.

the process of managing the return, disposal, or redistribution of products and materials back through the supply chain

The e-commerce company developed a comprehensive reverse logistics system to handle product returns efficiently and minimize costs associated with restocking and reshipping.

the widespread closure of physical retail stores, often due to shifts in consumer behavior toward online shopping

The rise of e-commerce giants like Amazon has contributed to a retail apocalypse, leading to the closure of thousands of traditional retail stores across the country.

a unique alphanumeric code assigned to each distinct product or item in a retailer's inventory for tracking and management purposes

The warehouse manager uses SKUs to track the movement and storage of inventory items, ensuring accurate stock levels and efficient order fulfillment.

the use of data analysis and insights to optimize retail operations, improve sales performance, and enhance customer experiences

Retail analytics helps businesses understand customer preferences and buying patterns.