(Customer Service) Chapter 4 Vocab.

sales per hour

a measure of sales productivity ad provides a measure for comparing sales volume for the store and the staff

department plans

each department makes a contribution to the store's financial plan and helps the store meet its sales goals

SMART goals

goals that are specific, measurable, achievable, results-oriented, time-based

sales goals

managers set daily, weekly and monthly sale goals to give their salespeople direction. Goals should be realistic and should reflect the planned sales for your department.

actual sales

total gross sales generated during a specific reporting period for a department or store

unique selling production

what a company offers that differentiates it from other retailers who offer that same or similar products or services

referral

when a person recommends someone based on his or her experiences with the person or when someone recommends another person for a task or service

80-20 rule

80 percent of the sales or profits come from 20 percent of the customers

sales plan

a plan that details all the sales numbers to be achieved in a season

Store financial plan

a plan that details the planned sales volume by department and compares those numbers to actual sales this year and last year

merchandise plan

a seasonal merchandise plan explains how to achieve the sales plan. It shows the amount of merchandise in stock at the beginning of each month in the season

goal

an aim for the future; one of the greatest motivators for people is to have meaningful goals to work toward. This includes both business and personal goals. They help us to learn and grow and perhaps even accomplish things we never thought possible

financial planning

planning or goal setting to help stores reach their sales or productivity goals. it includes a sales plan, merchandise in stock at the beginning of each month in the season

units per transaction

the average number of units or items each customer buys during each transaction and the salesperson's ability to sell multiple items.increasing the number of units per transaction has a positive impact on sales volume

average sale

the average sale metric is an indication of how much each customer buys

return percent

the percentage of items sold that were returned by customers during a specific period of time for each department and store. Lowering the return percent increases sales and profit. A high percentage indicates that customers may not be receiving proper assistance with their purchases or that the products are unsatisfactory

number of transaction

the total number of customer transactions completed by a store or department during a specific reporting period