Retail Glossary

 Retailers can benefit from knowing who is doing well and who isn’t. Sophelle can help. Check out the year-over-year sales for over 200 retailers. To see the successes and challenges of the retail industry, check out our Retail Sales Tracker.  Retail is changing at a rapid pace and successful retailers are changing the quickest. Innovation requires learning so we track over 70 retail trade shows that are a great place to learn.  Visit our Retail Trade Show list  the latest updates including those that have been rescheduled due to the COVID-19 quarantine. In stores and on the sales floor, high tech tools help balance inventory assortments, manage ordering and track pricing.

Customer tracking tools increase customer satisfaction and promote loyalty by enhancing shoppers' in-store experience. Success in retail today is about innovation through omnichannel strategy – new channels, new capabilities, new processes, and new business models. Keep up with the ever-changing retail taxonomy, terms, and abbreviations with our Retail Glossary. The benefits of using a retailer include providing additional value to the customers in the form of product and service mixes to entice the customer to buy from them rather than the individual supplier. A retailer performs the dual functions of buying and assembling of goods.