Multi attribute attitude model A model of customer decision making based on the notion that customers see a retailer or a product as a collection of attributes or characteristics. The model can also be used for evaluating a retailer, product, or vendor. The model uses a weighted average score based on the importance of various […]

demographic segmentation A method of segmenting a retail market that groups consumers on the basis of easily measured, objective characteristics such as age, gender, income and education. fashion Category of merchandise that typically lasts several seasons, and sales can vary dramatically from one season to the next. functional needs The needs satisfied by a product

Multi-channel retailer Retailer that sells merchandise or services through more than one channel. share of wallet The percentage of total purchases made by a customer in a store. Shopping bots Computer programs that simply search for and provide a listing of all Internet sites selling a product category or brand with the price of the

Retail chain A firm that consists of multiple retail units under common ownership and usually has some centralization of decision making in defining and implementing its strategy. Services retailer Organization that offers consumers’ services rather than merchandise. Examples include banks, hospital, health spas, doctors, legal clinics, entertainment firms, and universities. SKU (stock keeping unit) The