Do you know your Retail IQ?

I thought it may be fun to do a quiz. It does not really test IQ, and it is not a predictor of success. It simply shows how familiar you are with some of the mechanics and jargon of retailing.

  1. Stockturn is defined by dividing Net Sales by _____
  2. Buying Margin is the equivalent term for ______
  3. Complete the following Acronyms: OTB
  4. Complete the following Acronyms: UPC
  5. Complete the following Acronyms: FMCG
  6. Complete the following Acronyms: DPP
  7. Would you categorise Lay Byes as Assets or Liabilities?
  8. Does Pharmacy, Newsagency or DDS typically have the lowest GP%?
  9. The Average Sale is calculated by dividing Sales by ________
  10. What is the single biggest expense for most retailers (not service/hospitality?)
  11. What does the 4-5-4 calendar refer to?
  12. Which line item would be the single biggest impact between the first margin and final margin?
  13. What is the formula (or definition) of ‘Trading Density’.
  14. What is the formula for GMROI?
  15. What is the formula for ‘Current Ratio’?
  16. What is the bottom end of a healthy Current Ratio?
  17. What is the stockturn for a typical, independent jewellery store?
  18. What is the average/typical Occupancy Cost for a specialty stores in regional shopping centres? (you have to know what Occupancy Cost is…)
  19. On a multi-level store, which of the following floors is most productive; first floor (one above Ground) or basement (one below Ground)?
  20. What is that called (in VM) when you group/sort merchandise together by colour? (You have to know what VM is…)
  21. 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?
  22. Will an ensemble display be more likely found in a Department Store or a Supermarket?
  23. List the six elements of the Retail Mix?
  24. What does the Huff Model measure?
  25. On a ‘Colour Wheel’, where would you find the (perfect) complementary colour for any colour?

 

After completing the quiz you can get the answers IN THE NEXT POST.  Do come back and let us know how you went…

Have fun!

 

Dennis

GANADOR: Skills. Strategies. Solutions.