The world of retail and wholesale changes quickly. Therefore, brands, brand reps, and retail teams should be well-versed in the terminology used in our ever-changing industry.
At ENDVR, we aim to equip industry professionals with the knowledge to navigate challenges and seize opportunities effectively. From emerging trends to established concepts, each term included here offers valuable insights into the ‘why’ and ‘how’ behind pivotal industry practices, empowering stakeholders to make informed decisions and help promote long-term success.
Provided by ENDVR, the retail sales enablement platform unites the retail ecosystem by empowering brands to use digital technology to increase sales in physical stores, giving brands precisely what they need to acquire customers and take full advantage of their most important sales channel.
Explore the Glossary Below
INDUSTRY KEYWORDS |
DEFINITIONS |
|
A |
|
|
Associate Mobile App |
A mobile application designed for employees or partners to access company-related information, tools, and resources. |
|
Associate Mobile Application |
Similar to “Associate Mobile App,” referring to a mobile application tailored for use by company associates or affiliates. |
|
B |
|
|
Brand |
A distinctive identity, including a name, symbol and design, that distinguishes a product, service, or company from others in the market. |
|
Brand Advocates |
Individuals who passionately promote and endorse a brand, often through word-of-mouth or social media, driving positive sentiment and customer loyalty. |
|
Brand Dashboard |
A visual tool or platform that provides real-time data and insights on various brand metrics, such as brand awareness, sentiment, and engagement, to facilitate strategic decision-making and performance tracking. |
|
Brand Education |
Initiatives or programs aimed at educating internal Individuals about a brand’s values, messaging, and positioning to ensure consistency and alignment across all touchpoints. |
(ENDVR App Term) |
Structured courses or materials designed to educate individuals about a brand’s history, values, products, and technology. |
|
Brand Enablement |
Activities or strategies that empower individuals to effectively represent and communicate a brand’s value proposition – ultimately driving brand awareness, engagement, and loyalty. |
|
Brand Experts |
Professionals with specialized knowledge and experience in developing, managing, and enhancing brand identities and strategies. |
|
Brand Exposure |
The visibility and awareness of a brand among its target audience through various marketing channels and touchpoints. |
|
Brand Management |
The strategic process of overseeing all aspects of a brand’s identity, messaging, and positioning to ensure consistency and relevance in the marketplace. |
|
Brand Revenue |
The total income generated by a brand through the sale of its products or services – often a key metric in assessing brand performance and profitability. |
|
Brand Rep Training Techniques (ENDVR app term) |
Methods and approaches used to deliver sales training content and facilitate learning among sales reps such as: Onboarding best practices, training videos, emails, and introductory videos. |
|
Brand Web App |
An online application or platform specifically designed to enhance the digital presence and user experience of a brand, typically accessible via a web browser on desktop or mobile devices. |
|
Brick and Mortar Retail |
Traditional physical retail stores operating in physical locations. |
|
Brick and Mortar Store |
A physical retail establishment with a physical storefront and location. |
|
Building Brand Advocacy |
The process of fostering strong, positive relationships with customers to encourage them to actively promote and endorse a brand to others. |
|
C |
|
|
Campaign |
A coordinated series of marketing activities with specific goals and objectives aimed at promoting a product, service, or brand within a defined timeframe. |
|
D |
|
|
Digital Brands Go Brick and Mortar |
Online-based brands expand their presence by establishing physical retail locations to reach new customers and enhance brand visibility. |
|
Digital Learning |
The use of digital technologies and platforms to facilitate educational experiences that are personalized to individual learners’ needs and goals. |
|
Digital Training |
Instructional programs and resources delivered electronically, typically via digital platforms or tools, to educate individuals or employees on specific skills, processes, or topics. |
|
E |
|
|
EBR – Executive Business Review |
A comprehensive assessment and analysis conducted at the executive level to evaluate business performance, set strategic goals, and make informed decisions. |
|
EFR – ENDVR for Retailers |
A retail-focused platform or solution designed to enhance customer engagement, loyalty, and sales through education and sales incentives. |
|
End-to-End Rewards Service & Fulfillment |
Add a custom store for reward redemption and your employee discount program. Simplify end-to-end rewards service with ENDVR order fulfillment and prizes from our warehouse, saving you storage, shipping, and shelf space. |
|
I |
|
|
Inventory Data |
Information about the quantity, location, and status of products within a company’s stock – crucial for effective inventory management and supply chain operations. |
|
M |
|
|
Mission – The “ask” that is presented to in-store associates (ENDVR app term) |
The “ask” that is presented to store associates A specific task or objective assigned to store associates to accomplish within a given timeframe or context. |
|
O |
|
|
OR – Outdoor Retailer |
Retail businesses selling apparel and general merchandise for outdoor activities. |
|
P |
|
|
Physical Retail |
Traditional brick-and-mortar stores where customers can physically visit to purchase products. |
|
POE – Proof of Employment |
Documentation or verification provided by an employer confirming an individual’s employment status. |
|
POP – Point of Purchase |
The specific location within a retail environment where customers make their final purchase decisions and transactions. |
|
POS – Point of Sale |
The physical or digital system used to complete transactions and process payments at the time of purchase in retail environments. |
|
Product Sales |
The revenue generated from selling goods or services to customers, a key metric in assessing the performance and profitability of a business. |
|
R |
|
|
Retail Digitization |
The process of integrating digital technologies and strategies into retail operations to enhance efficiency, customer experience, and competitiveness. |
|
Retail Ecosystem |
The interconnected network of retailers, suppliers, partners, and consumers that collectively contribute to the functioning of the retail industry. |
|
Retail Engagement |
The level of interaction, involvement, and connection between retailers and their customers – crucial for building relationships and driving sales. |
|
Retail Industry |
The sector encompassing businesses involved in the sale of goods or services to consumers, including both online and brick-and-mortar retailers. |
|
Retail KPIs |
Key performance indicators specific to the retail industry used to measure and evaluate various aspects of business performance, such as sales, profitability, and customer satisfaction. |
|
Retail Marketing |
Strategies and tactics employed to promote products or services, attract customers, and drive sales within retail environments. |
|
Retail Metrics |
Quantifiable measurements used to track and assess the performance and effectiveness of retail operations, marketing efforts, and sales activities. |
|
Retail Operations |
The day-to-day activities and processes involved in running a retail business, including inventory management, customer service, and store operations. |
|
A comprehensive plan outlining how a retail business will manage its resources, processes, and activities to achieve its operational objectives and deliver value to customers. |
|
Retail Performance |
The overall effectiveness and efficiency of a retail business in achieving its goals, typically measured through various metrics such as sales revenue, profitability, and customer satisfaction. |
|
Retail Sales |
The revenue generated from selling goods or services directly to consumers through retail channels, a primary driver of revenue and growth for retail businesses. |
|
Employees responsible for assisting customers, providing product information, and facilitating purchases within retail stores. |
|
Providing retail sales associates with the tools, resources, and training necessary to effectively engage customers, close sales, and meet revenue targets. |
|
A physical location where goods or services are sold directly to consumers, such as a store, shop, or outlet. |
|
Instructional programs and initiatives designed to educate retail sales associates on product and brand knowledge, customer service skills, and sales techniques to improve performance and drive revenue. |
|
Retail Strategy |
A comprehensive plan outlining a retail business’s approach to achieving its objectives, including market positioning, product assortment, pricing, and promotional tactics. |
|
Retail Stores |
Physical locations where products are sold directly to consumers, often featuring storefronts and inventory displays. |
|
Retail Training |
Educational initiatives aimed at improving the skills, knowledge, and performance of retail employees to enhance customer service and sales effectiveness. |
|
Structured courses or modules designed to provide retail employees with specific skills, product knowledge, and sales techniques to excel in their roles. |
|
Retailer Dashboard |
A digital platform or interface that provides retailers with real-time data, insights, and analytics to monitor and manage various aspects of their business operations, such as sales performance and inventory levels. |
|
Retailer Web App |
An online application or software platform specifically designed for retailers to manage their operations, interact with customers, and track performance metrics via web browsers or mobile devices. |
|
RGA – Revenue Generating Associate |
A salesperson or employee directly involved in generating revenue for a company through product sales or service provision. |
|
RGS – Revenue Generating Store |
A retail location that contributes significantly to a company’s overall revenue through sales activities. |
|
ROAI – Return on Associate Investment |
A metric used to evaluate the effectiveness of investing in employees by measuring the return generated from their contributions to revenue generation. |
|
ROAS – Return on associate spend |
A metric used to measure the effectiveness of investing in employee-related expenses in relation to the revenue generated. |
|
S |
|
|
SAAS – Software as a Service |
A software delivery model where applications are hosted by a third-party provider and accessed by customers over the internet, typically on a subscription basis. |
|
Sales Awards |
Recognition or incentives given to individuals or teams within an organization for achieving exceptional sales performance or meeting specific sales targets. |
|
Sales Campaigns (ENDVR app term) |
Coordinated efforts to promote products or services, drive customer engagement, and increase sales within a specific timeframe or target market. |
|
Sales Channel |
The different avenues or methods through which products or services are sold to customers, such as online stores, retail stores, direct sales, or third-party distributors. |
|
Sales Compensation |
The financial rewards or incentives provided to sales reps based on their performance, typically including commissions, bonuses, and other incentives. |
|
Sales Competitions |
Competitive challenges designed to motivate sales teams or individuals to achieve higher sales targets, often with rewards or recognition for top performers. |
|
Sales Contests |
A short-term competition or challenge among sales reps or teams to achieve specific sales goals or targets, often with rewards or prizes for the winners. |
|
Sales Education |
Training programs and resources designed to improve the skills, knowledge, and effectiveness of sales professionals in understanding products, customers, and sales techniques. |
|
Sales Enablement |
Providing sales teams with the tools, resources, and support they need to effectively engage prospects, close deals, and drive revenue. |
|
Strategies and initiatives aimed at equipping business-to-business (B2B) sales teams with the necessary resources and support to engage and convert potential clients effectively. |
|
Specific objectives or targets set to measure the effectiveness and success of sales enablement efforts in supporting and enhancing sales performance. |
|
A strategic roadmap outlining the initiatives, resources, and actions needed to empower sales teams and drive success in achieving sales objectives and targets. |
|
Digital platforms or applications designed to streamline sales processes, provide sales content, and track performance to enhance the effectiveness of sales teams. |
|
Resources, technologies, or assets used by sales professionals to facilitate customer interactions, improve productivity, and drive sales performance. |
|
Sales Incentives |
Rewards or benefits offered to sales professionals to motivate them to achieve specific sales targets or objectives. |
|
Structured initiatives or schemes designed to incentivize sales teams with rewards, bonuses, or recognition for achieving sales goals or milestones. |
|
Sales Team Tracking |
Monitoring and analyzing the performance and activities of sales teams, typically through software or tools, to assess productivity, identify areas for improvement, and optimize sales strategies. |
|
Sales Tracking |
Monitoring and recording sales activities, metrics, and outcomes to evaluate performance and inform strategic decisions. |
|
A software platform or tool designed to capture, organize, and analyze data related to sales activities and performance. |
|
Sales Training |
Educational programs and initiatives aimed at improving the skills, knowledge, and techniques of sales professionals to enhance their effectiveness in generating revenue. |
|
Structured courses or workshops designed to teach sales professionals specific skills, strategies, and best practices to improve their sales performance and results. |
|
Sell-Through |
The rate at which inventory is sold to end consumers, typically expressed as a percentage of total inventory over a specific period. |
|
T |
|
|
Team Sales Contest |
Competitive events or challenges among sales teams to drive performance and achieve collective sales targets – often with rewards or incentives for the winning team. |
|
Training Content |
Educational materials, resources, and information used to deliver training programs and initiatives to sales professionals, covering topics such as product knowledge, sales techniques, and customer service. |
|
W |
|
|
Wholesale Brand |
A brand that primarily sells products or services in large quantities to retailers, distributors, or other businesses rather than directly to consumers. |
|
Wholesale Channel |
The distribution network or pathway through which products are sold in large quantities to retailers or other businesses for resale to consumers. |
|
Wholesale Retail |
The business model of selling goods in large quantities to retailers or other businesses for resale to end consumers. |
|
Wholesale Retailer |
A business that purchases goods in bulk from wholesalers and sells them to consumers – typically operating in large-scale or specialized markets. |
|
Wholesale Revenue |
The total income generated from selling goods to retailers or other businesses for resale purposes. |
For additional resources on transforming your brand’s retail engagement by empowering frontline staff, boosting brick-and-mortar and wholesale sales, and strengthening your brand’s competitive stance, join monthly webinars on enhancing sales in brick-and-mortar stores hosted by ENDVR!
If you’re eager to enhance your brand’s wholesale performance and boost your revenue, take advantage of the opportunity to explore what ENDVR can offer – Watch a Demo to learn more!
