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Result for the keyword: L
 
Laggards
Consumers who accept a style when it is in the decline stage of the product life cycle.
Landed cost
The importer’s final cost for foreign merchandise, which includes the merchandise cost, duties and tariffs, commissions, insurance, storage expenses, and transportation charges
Lead in price point
The lowest price point in the range. Normally a strategically decided price point.
Lead Time
The time span from the date an order is placed by a retailer to the date merchandise is ready for sale (received, price marked, and put on the selling floor)
Licensed Brands
Brands for which the licensor ( owner of a well known name) enters into a contract with a licensee ( a retailer or a third party) The license either manufacturers or contracts with a manufacturer to produce the licensed product and pays a royalty to the licensor.
Lifetime value
The potential of a customer to give business over his/ her lifetime. E.g. if a person spends Rs 10,000 a year on shirts then over his active shopping lifetime (assuming it to be 40 adult years) he will spend 400,000/-.
LIFO
Last in First out method of inventory control that assumes the merchandise that was received last was sold first
Like for Like sales
A common metric in the retail industry, compares sales of stores that have been in the business for a year or more. This measure allows analysts to determine what portion of new sales has come from sales growth and what portion from opening new stores. Also known as same store sales.
Line item
A single item on a Purchase order or a range plan.
List Price
A retail level price generally set by manufacturers
Lock in period
When referring to real estate transactions, the lock in period refers to a period during which the tenant and the landlord are committed to the terms of the contract. This is the minimum period for which the transaction is valid. Any exit clause is applicable only after this period. Vacating the space before the stipulated lock-in period means forfeiture of deposit, and in some cases a penalty, depending on the contract drawn up by the two sides.
Logistics
The total process of moving goods from manufacturer to a customer in the most timely and cost –efficient manner possible
Loss leader
A pricing strategy where a particular item is sold below cost in an effort to stimulate other, more profitable sales. For example, during the Thanksgiving season, turkeys are frequently sold at pennies per pound in the hopes that the grocery store will profit from other groceries purchased at the same time.
Low involvement purchases
Purchases that involve relatively low expenditure or personal risk e.g. routine purchases like buying a soft drink, choosing some breakfast cereals in the supermarket that have very simple evaluation processes
Loyalty programs
Promotion programs run by retail chains where customers are given tangible rewards for patronizing a store. The higher the patronage the greater the reward.
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