NRF Retail Industry Fundamentals Exam questions with correct answers

A retail business, owned by shareholders and have centralized decision making for their multiple store locations is called - Answer corporation In the retail product cycle, what step comes after distribution and products? - Answer selling What item is a retail product - Answer car tire A large facility that manufacturers sent large quantities of product to then distributed to stores is called - Answer distribution center The period key term in retail for a period fo time that an item remains usable, or fir for consumption is called: - Answer shelf life Customers of a popular shoe store chain can purchase items in-store and on-line or via their mobile app. the customer also receives texts and emails about current promotions and sales. This is an example of: - Answer Omni-channel retailing What's considered a retail service? - Answer car wash Merchandise without an expiration date like electronics, tools and home goods typically have longer - Answer shelf life The repetitive cycle that occurs with retailers in regard to product assortment is called: - Answer the retail product cycle