The First Friday Retail Academy

Understanding Retail: Calculations & Jargon

It can sometimes feel like retailers talk a different language with so much terminology and jargon to understand, and when you add all the calculations into the mix, things get tougher still. To help, we have developed a comprehensive jargon buster together with a series of videos for all the key calculations. If you are new to retail they can teach you all you need to know, but also you can rely on them as a quick reference tool to jog your mind whenever you need them.

The jargon

A comprehensive online glossary of over 300 common retail terms and acronyms together with definitions, calculations and examples
of each.

Always on hand, with quick and easy search functionality, this glossary of terms means you will know how to understand and apply retail jargon with ease and confidence.

The calculations

A series of short, engaging videos explaining how to carry out and
apply the key, detailed retail calculations with examples.

Calculations include:

  • Rate of sale
  • Sell through
  • WSSI (Weekly sales stock and intake)
  • OTB (Open to buy)
  • Markdowns - permanent and promotional
  • Cover - forward and flat
  • LFL (Like for like)
  • Stock turn
  • BTA (Balance to achieve)
  • Margin - intake and selling
  • Sales density

Audience

A must for anyone who would benefit from understanding retail terms, jargon and calculations.

Suitable for:

  • Those beginning their careers in buying, planning and merchandising
  • Employees within retail support functions e.g. HR, Finance, Systems
  • Suppliers of products or services to retailers


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