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V-CDC-CustomerSer-5

Pyramid CDC - SMARTNet Customer Service Review

TermDefinition
Revolving credit A financing model in which the retailer offers a credit card to customers- usually connected to loyalty programs-so they can make purchases and pay the card balance over time.
Safety stock Extra inventory kept on hand in case customers buy more than the amount estimated before the next shipment arrives.
Sales per square foot The average amount sold per square foot of space in the store. This information helps a store’s employees understand if the store is performing well overall and if the store’s layout is effective.
Sales promotion This term refers primarily to shorter-term activities that offer an incentive for customers to make a purchase, such as a weekly ad with featured sale items, visual merchandising and offering product samples. Sales associate commissions are also considered a form of sales promotion.
Search Engine Marketing (SEM) A form of marketing - also called keyword advertising or pay-per-click-in which retailers pay to increase their visibility in search engine result pages. For example, Google Ads allow retailers to bid at auction for specific advertising keywords
Search Engine Optimization (SEO) The process of improving a website’s position in search engines’ results so that it should attract more site visitors.
Self-checkouts Checkout lanes that allow customers to scan, pack and pay for their merchandise without the assistance of a store cashier, although an employee is always close by in case the customer needs help.
Self-service kiosks/tablet kiosks Interactive computers with customized software that provides access to information and applications like ordering food and drink items, locating merchandise in a store, accessing product information, finding gift registries or recipes, requesting employee assistance, buying merchandise online and more.
Services Intangible (meaning that they can’t be physically owned by the customer) transactions, such as lawn mowing, hair care services, personal training, ride sharing and video streaming.
Service benefits The advantages that make a certain service a good choice for the consumer.
Service recovery The action a retailer provides to address a service failure. It includes activities to turn the negative experience into a positive one. It can occur during the same visit or at a time in the future.
Shoplifting The action of taking an item from a store without paying for it.
Shoppers People who purchase goods or services from a business. Also known as customers.
Short-change artist Dishonest shoppers who try to scheme salespeople by arguing that they paid with a bigger bill to get more change than they are owed.
Sick leave A policy that allows employees to take time off from work to stay home and address health and safety needs while still being paid.
SMART goal system A process used to help people develop quality goals. The acronym SMART stands for ; specific (make the outcome or result clear) measurable (include quantitative and/or qualitative measures that accurately determine success), achievable (ensure the measure, result and timeframe are reasonable), results-oriented (identify a concise and valuable accomplishment,outcome,or end product) and time-based (establish a definite date and/or time for achieving the result).
Social media influencer A social media user who has established credibility in a specific industry or content area, has access to a huge audience through his/her follower network and can persuade others to act based on their recommendations.
STAR method A method that is used to organize and present job tasks as accomplishments when applying for jobs. The acronym stands for situation, task, action, result.
Stock turnover rate The rate at which a store is able to sell its inventory. If a store’s stock turnover rate goes down, it means the store is not selling its items as quickly.
Stocking The process of placing inventory on sales floor shelves, racks or other displays to be sold.
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