Product
This internal number is used by retailers for stock item management and differs based on product variants like size and color
Store Keeping Unit (SKU)
This fictitious or archetypal representation of a target customer helps a fashion company understand its audience's needs and behaviors
Buyer persona
This form of wireless communication uses electromagnetic waves to uniquely identify objects and is used for real-time store stock replenishment
RFID (Radio Frequency Identification)
This "cradle to grave" socioeconomic model describes a system where products are produced, used, and then discarded as waste
Linear model
This business practice involves hiring a third party outside of a company to perform services or create goods that were traditionally handled in-house by the company's own staff
Outsourcing
This term refers to the range of choice offered to a consumer within a particular classification of merchandise
Assortment
These four key factors, including product and place, form the essential pillars of any marketing strategy
4 Ps of marketing
This distributed, decentralized digital record of transactions uses cryptographic hashes to ensure that data is permanently recorded and difficult to alter
Blockchain
The three principles of this model, driven by design, include eliminating waste, regenerating nature, and circulating products at their highest value
Circular economy
This term refers to a set of corporate policies, processes, and procedures designed to ensure that a company adheres to the specific norms and regulations of its industry or jurisdiction
Compliance
Within the apparel classification, examples such as knitwear, denim, leather, and swimwear represent this specific organizational grouping
Product families
This concept describes the joint creation of value where a company and a customer co-construct a personalized service experience through active dialogue
Co-creation
This upcoming EU regulation aims to improve transparency by providing consumers and authorities with data on a product's compliance, composition, and circularity potential
Digital Product Passport (DPP)
This circular practice involves using waste materials exactly as they are to create new products of equal or better value than the original item
Upcycling
This sustainability approach focuses on integrating requirements like durability, recyclability, and energy efficiency into products at the design stage to ensure they are fit for a circular economy
Ecodesign
This specific dimension of an assortment refers to the number of items (SKUs) provided within a single product classification
Depth of merchandise
haracterized by a high level of customer involvement, this practice involves producing unique, made-to-order garments or accessories tailored to the specific requirements of an individual
Customization
This retail strategy focuses on the holistic, synergistic management of all channels and touchpoints to provide a single, unified, and integrated shopping experience centered around the customer
Omnichannel retail
This three-pillared framework provides criteria to measure the non-financial impacts and risks of an investment or company
ESG (Environmental, Social, and Corporate Governance)
These represent legally binding and judicially controlled norms, such as national laws and European directives
Hard law
This ratio, which measures a company’s non-tangible value, is calculated by dividing a publicly traded firm's market capitalization by the value of its tangible assets
Tobin’s Q
This segmentation approach groups customers by the results they seek from a product, identifying categories like "Bargain," "Stand-out," and "Fitting in
Outcome-driven segmentation
The key origin of digital disruption
Customer behaviour, reducing inconveniences/pain of buying
This sustainability framework requires a firm to achieve simultaneous performance in three dimensions: economic, social, and environmental
Triple Bottom Line (TBL)
Far from disappearing in the digital age, traditional retail locations are mutating into...
Omnichannel hubs (or logistic nodes), experiential spaces