purchase large quantities of goods from
manufacturers, store the goods, and sell small
quantities to retailers
What is wholesalers
100
Represents another company to negotiate sales, purchases or both. does not take ownership of the goods
What is an Agent
100
are responsible for selecting and purchasing goods for their companies. Could be a specific department or classification Could be for an entire retail store
What is Buyer
100
Largest marketing center in the US known for 7th ave garment district
What is New York City
100
Occurs when imports exceed exports.
What is Trade Deficit
200
means that items shipped to the store are ready
to go directly onto the selling floor without additional
preparation
What is Floor Ready merchandise
200
Hanes brand undershirts may be found in stores such
as Target, JCPenney, Macy’s, and Wal-Mart.
What is Intensive
200
information can be found within a retail company examples:
• Past sales records
• Customer feedback to salespeople
• Want slips
• Consumer polls
• Company merchandising bureaus
What is Internal Influences
200
Host the the largest fashion and textile facility in the U.S.
An 82-block garment district includes designers, wholesalers, manufacturers, and patternmakers.
Hosts a fashion week five times a year
Primarily serves the West coast
What is Los Angeles
200
An international trade agreement that reduces tariffs, quotas, and other trade barriers around the world.
What is World Trade Organization
300
concentrated areas where goods are produced, sold, and bought at wholesale prices; a geographic area where buyers and sellers meet to exchange money for products and services
What is Market Center
300
Toms’ shoes may be found in only a few stores in
addition to their online e-tailing store.
What is Selective
300
information can be found outside the retail company
examples:
• Vendors
• Trade information (publications, shows, industry statistics)
• Comparison shoppers
• Resident buying officers/consulting services
• Fashion forecasters
What is External Factors
300
Host AmericasMart fashion Market and primarily serves the southeast
What is Atlanta
300
The relationship between the values of a country’s imports and exports; expressed as a deficit or a surplus.
What is Balance of Trade
400
retail employees who check the merchandise assortments, prices, ambiance, and service offered in competing and noncompeting stores, as well as the advertising, displays, and knowledge and demeanor of salespeople.
What is comparison shoppers
400
Gucci products are only available in official Gucci retail
locations.
What is Exclusive
400
placing orders for merchandise to satisfy individual customers rather than for regular stock
What is Special Order
400
host the international apparel mart, known for bridal &evening wear and western wear
What is Dallas
400
Government’s policy for allowing goods to flow freely in and out of its economy without interference.
What is free trade
500
How much of the U.S Apparel and Textile industry is reliant on imports?
What is 60%
500
Which source is responsible for the highest percentage of inventory shrinkage?
What is employee theft
500
a calculated number that shows dollar sales volume in relation to the dollar value of average inventory
What is Stock to sales ratio- Inventory to Sales
500
Host the worlds largest swimwear show and is the wholesale center for the Americas
What is Miami
500
A trade agreement between the United States, Canada, and Mexico that formed the world’s largest free trade area.