This blog was updated on 26 May 2025, for more information connect with our team: https://www.easystore.co/contact 

10 Retail Terms Every New Merchant Should Know 

Welcome to the world of retail—where understanding key industry terms is just as important as the products you sell. 

As retail continues to evolve with digital solutions like EasyStore, being familiar with essential retail language can give you a strong foundation to grow your business.

Whether you're launching your first store or looking to sharpen your industry knowledge, here are 10 essential retail terms every EasyStore merchant and partner should know. 

These concepts are crucial for navigating retail successfully and maximizing both online and offline opportunities.

1. Bundled Pricing

The practice of offering multiple products or services together at a discounted rate, compared to buying each item individually. This strategy can help increase average order value and promote lesser-known products.

2. Buy Now, Pay Later (BNPL)

A payment method that allows customers to receive products immediately and pay in installments over time. This is especially popular for higher-priced items and can reduce purchase hesitation.

3. Buy Online, Pick Up In Store (BOPIS)

A hybrid shopping method where customers place orders online and pick them up at a physical store. BOPIS combines the convenience of eCommerce with the immediacy of in-store fulfillment.

4. Cloud POS

A cloud-based Point of Sale system that operates over the internet, offering flexibility, mobility, and real-time access to sales and inventory data. Ideal for businesses with multiple locations or dynamic retail setups.

5. CRM (Customer Relationship Management)

A digital system used to manage customer data, interactions, and relationships. CRMs help businesses provide personalized communication and support, leading to higher customer retention.

6. Fulfillment

The process of receiving, processing, packing, and shipping customer orders. A smooth fulfillment process is key to customer satisfaction and efficient supply chain operations.

7. Inventory Management

The process of tracking stock levels, sales, and restocking needs. Effective inventory management—often integrated with POS systems—prevents overstocking or running out of high-demand products.

8. Point of Sale (POS) System

A retail system that combines hardware and software to process transactions. POS systems often include inventory management, reporting tools, and customer data tracking to support sales operations.

9. Unified Customer Experience (UCX)

A strategy focused on delivering a seamless, consistent, and personalized experience across all customer touchpoints—whether online, in-store, or through social media. UCX builds trust and drives brand loyalty.

10. Unified Commerce

An advanced retail strategy that integrates all sales and communication channels into a single platform. 

Unified commerce ensures centralized data and consistent experiences across online and offline environments, boosting operational efficiency and customer satisfaction.

These 10 retail terms are just the beginning of your journey toward retail success. Understanding them not only enhances your confidence but also helps you make informed decisions that drive business growth.

Want to explore more? Stay tuned for our upcoming post with an expanded glossary of retail terms to further deepen your knowledge and elevate your EasyStore experience.

Let us know if you'd like support implementing any of these retail strategies in your own store!

Make Customers Love Buying From You

EasyStore empowers your brand to prioritize customers and enhance their experience, creating a unified customer experience (UCX) that makes customers love buying from you.

Over 50,000 brands have grown their businesses by embracing unified customer experiences (UCX) strategy through EasyStore across multiple sales channels - online store, retail outlets, marketplaces, and social media, ensuring consistency in product and service offerings for a seamless shopping journey.