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Retail Jargon Glossary

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18 Jul, 2018

Account / Pay On Account

Paying on account means paying after you have received a product (typically 30 days after receiving delivery). It allows retailers to maintain a healthy cash flow, often selling all or most of the stock before having to pay for it.

Many suppliers will allow you to pay on account after your first order.

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18 Jul, 2018

Click and Collect

Click and collect is a service offered by many large stores and supermarkets which allow customers to order through their website. The idea is that a customer orders and pays online but picks their product up in-store or at a convenient local place (often a local shop or post office).

The advantage for customers is that they do not have to be in the house to receive a delivery. Many retailers find that it increases their conversion rate (the number of visitors to their website who purchase a product).

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18 Jul, 2018

CRM / Customer Relationship Manager

A CRM (short for Customer Relationship Manager) is a piece of software which makes it easier for companies with lots of clients to keep in touch with them all. It is often used by wholesale businesses to keep track of their customers and things they have previously ordered.

Some popular CRM softwares include: HubSpot, SalesForce and Oracle.

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18 Jul, 2018

Cross Sell / Cross Selling

A cross sell is the act of encouraging a customer to buy a second product which complements the original product they have bought. For example, if a customer purchases gloves, you might encourage them to also buy a hat.
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