Test your retail IQ
- Stockturn is defined by dividing net sales by _____
- Buying margin is the equivalent term for ______
- Complete the following acronyms: OTB
- Complete the following acronyms: UPC
- Complete the following acronyms: FMCG
- Complete the following acronyms: DPP
- Would you categorise layby as an asset or liability?
- Does a pharmacy, newsagency, or a DDS typically have the lowest GP%?
- The average sale is calculated by dividing sales by ________
- What is the single biggest expense for most retailers (not service/hospitality)?
- What does the 4-5-4 calendar refer to?
- Which line item would be the single biggest impact between the first margin and final margin?
- What is the formula (or definition) of ‘trading density’.
- What is the formula for GMROI?
- What is the formula for ‘current ratio’?
- What is the bottom end range (minimum) for a healthy current ratio?
- What is the stockturn for a typical, independent jewellery store?
- What is the average/typical occupancy cost for a specialty stores in regional shopping centres? (You have to know what occcupancy cost is…)
- On a multi-level store, which of the following floors is most productive: first floor (one above ground) or basement (one below ground)?
- What is it called in VM when you group/sort merchandise together by colour? (You have to know what VM is…)
- In VM, merchandise is often arranged in a pyramid or other shapes with lines that lead the eye to a specific point in the display. What is this point called?
- Will an ‘ensemble display’ be more likely found in a department store or a supermarket?
- List the six elements of the ‘retail mix’?
- What does the Huff Model measure?
- On a colour wheel, where would you find the (perfect) complementary colour for any colour?
After completing the quiz you can get the answers here.
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