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Chapter 12: Retail Quiz
Test your knowledge of the retail chapter material!
1 / 10
What does the Retail Industry Leaders Association focus on?
The answer can be found on page 130.
You got it! This group was a significant player in the national health-care debate in 2012-14 and has also weighed in on online sales tax collection.
2 / 10
As a reporter, you are welcome to shoot photos or videos inside a retailer any time during operating hours.
That's right! A store is still private property even though the business is open to the public. You should get permission from a manager before filming or taking photos inside a store.
3 / 10
Same-store sales measure the amount of sales that month for stores that have been open for any length of time.
The answer can be found on page 133.
Correct! Same-store or comparable-store sales measure the amount of sales that month only at stores that have been open for at least a year.
4 / 10
Visual merchandising is the practice of creating visually appealing displays and in-store experiences to drive traffic and maximize sales.
The answer can be found on page 135.
Correct! Brick-and-mortar stores spend a lot of time analyzing and adjusting their visual displays to help maximize traffic and sales.
5 / 10
When you cover retail what are you covering?
This answer can be found on page 126.
Correct! When you cover the retail beat, you cover a lot more than going to the mall.
6 / 10
Which of these organizations release retail data that will be useful to your reporting?
Correct! These are just three of the many data resources available to you as a retail reporter.
7 / 10
What does SKU stand for?
Correct! This refers to the code used to identify each type of product in a store. For example, all of the Honey Nut Cheerios will have one SKU, while the Multigrain Cheerios will have a different SKU. The number of SKUs in a store can give you an idea of the diversity of products it carries.
8 / 10
You shouldn't start thinking about your holiday coverage before October each year.
Correct! It's never too early to start thinking about your holiday coverage!
9 / 10
Where can you find the release date schedule of the commerce department's monthly sales reports?
The answer can be found on page 132.
Correct! The data in these reports include a much broader range of retailers than same-store sales. It also measures sales at all stores (net sales), not just those open at least a year (same-store sales).
10 / 10
What's another term for dead stock?
The answer can be found on page 134.
Correct! These are products that have been in stock for a long time, often due to seasonality or trends. No retailer wants to have dead stock or inventory.
Your score is
The average score is 45%
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