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Result for the keyword: F
F.O.B (Free – on –board)
It is a method of expressing who is responsible for paying transportation charges e.g. FOB factory would mean the retailer is paying the transportation charges. Title passes to the buyer when the seller delivers goods to the transportation carrier.
F2F: Face to face
Normally used for job interview situations where the candidate is required to come and meet the interviewer physically (as against interview over Skype or Video conference).
A facing refers to the front view of a single product on a shelf. If a shelf has 10 products that are “facing” the customer then the shelf is said to have 10 facings. It is a retail term which is used for the purpose of merchandising the store.
Factory Outlet
A manufacturer-owned store selling firms factory seconds, store discontinued merchandise, canceled orders. Goods are normally available at an attractive discount.
A short lived fashion
Fair Trade
Fairtrade labelling (usually simply Fairtrade) is a certification system designed to allow consumers to identify goods which meet certain ethical business standards. Fairtrade certification guarantees not only fair prices, but also the principles of ethical purchasing. These principles include adherence to ILO agreements such as those banning child and slave labour, guaranteeing a safe workplace and the right to unionise, adherence to the United Nations charter of human rights, a fair price that covers the cost of production and facilitates social development, and protection and conservation of the environment. Overseen by a standard-setting body (FLO International) and a certification body (FLO-CERT), the system involves independent auditing of producers and traders to ensure the agreed standards are met. For a product to carry the Fair Trade Certified Mark, it must come from FLO-CERT inspected and certified producer organizations.
Abbreviation for Foreign Direct Investment. Refers to investment by a company in a country other than that in which the company is based
FIFO (First in, First out)
A method of inventory control that assumes that the merchandise that was received first is sold first e.g. if white shirts were received in two batches of fifty pieces each, as per the FIFO method the first 50 pieces should be sold first.
Fill rate
The proportion of orders that can be immediately met with stock in hand e.g. if the orders are for 100 and you receive 70 then the fill rate is 70%. A popular metric used by supermarkets to determine supplier efficiency.
First Moment of Truth
This is an expression introduced by Procter and Gamble. The First Moment of Truth refers to the 3-7 seconds after a shopper first encounters a product on a store shelf. This time lapse is called (by P&G) "first moment of truth" and it's considered the most important marketing opportunity for a brand. It is in these few seconds, P&G contends, that marketers have the best chance of converting a browser into a buyer .
Flagship store
The leading store within a group, usually the biggest in size and stock holding and used as a benchmark against which other stores are measured. Also used to denote other similar stores within the group that meet this criteria.
Flash Mob
A flash mob typically refers to a group of people who suddenly assemble in a public place, perform an unusual action for a brief period and then disperse quickly. It is seen as a cost-effective tool for brands looking to reach small but focused target groups e.g. On a busy weekend at the Great India Place mall in Noida (a Delhi suburb), 100 people dressed in Allen Solly’s new range of casual clothing froze for all of seven minutes as passers-by stopped in their tracks and watched. The human mannequins were hired by the apparel brand to showcase its newest collection. The smartly dressed models with prominent Allen Solly tags just froze in the middle of whatever they were doing at the mall - whether it was drinking coffee, applying make-up, talking on the phone or walking. So shoppers were a little startled at first, but figured things out when they saw the Allen Solly tags. The flash mob strategy allowed the brand to showcase 100 different garment pieces at the same time.
Flea Market
A market that has many retail vendors offering a range of products at discount prices in plain surroundings. Goods are often sold off pavements and small shacks.
The cash that is provided at the cash till every morning to conduct the day’s business. It normally includes a predetermined mix of currency denomination to ensure that the cashier has sufficient change to return to the customer through the day.
Floor price
The minimum price below which a product should not be priced
Floor ready Merchandise
Items that are received at the store in condition to be put right on display with no preparation by retail workers.
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