Jargon Busting Glossary

Cutting through the waffle and words used in the retail world

jargon busting glossary!

Do you sometimes think ‘what does that mean’ when you see a slogan or label in store that makes no sense? Gaining the clarity to understand what these terms actually mean?

Here you can search for those terms you’ve heard or seen so you can feel confident in your understanding.

The TermWhat it stands forJargon free explanation
BackstoryWhere / why you created the productThe story of your brand journey
BOGOFBuy one get one freeA simple promotion mechanic - about as powerful as a promotion gets
BRCBritish Retail ConsortiumFood & drinks suppliers produce products under a BRC accreditation for their category. Some Retailers request a BRC for categories outside of food (ASDA), find out more here: https://brc.org.uk
Case SizeThe number of packs contained in the outer caseFor example 10 x 85g / 6 x 250ml
Cost priceThe price you supply the goods at
COGSCost of goods soldCost of Goods Sold (COGS) is the cost of a product to a retailer. Sales revenue minus cost of goods sold is a business’s gross profit.
CPICost price increaseA term used when you are negotiating the cost price you currently supply at.
EDLPEveryday low priceA supermarket strategy term - rather than lots of promotions they guarantee customers get a low price every day.
Gap analysisFinding the gaps on the shelves!Reviewing all of the products stocked via retailers to understand the ones who don't have an offering like yours.
JBPJoint Business PlanA business plan that exists between the supplier and the retailer. Incorporates your range, selling prices, media plan, overrider payments, marketing spend.
Media PlanOnline supportAny agreed support you pay for to run initiatives online i.e. coupons, banners, bundles
Outer caseThis is the cardboard box that is supplied to the retailerThis can contain individual SRP (see above) for example 2 x 5 x 85g (2 SRP units containing 5 each individual selling units)
OverriderA retrospective paymentA payment the supplier pays back to the retailer after sales have taken place. A reward for high achieving sales.
Pack copyThe words on your packagingThe words printed on your packaging to describe the product, ingredients, story, size, nutritionals
Pack sizeThe size of the individual unit sold to customersThis can be in kilograms / grams / millilitres / litres
RDCRetail Distribution CentreA retailers depot that handles every product destined for their stores.
PromotionPromotion ActivityAn activity where the supermarket reduces the price of a product/s, including multibuys or features away from or in aisle locations, with the aim of increasing sales & volume on a product/s for an agreed period of time.
QSRQuick Selling RetailQuick Selling Retail for example Greggs, Subway, Costa etc.
RRPRecommended Retail PriceThe price you recommend they sell it for (based upon your online shop) or other listings. (Please note RRPs are at the discretion of the supermarket and they can sell at the price they decide)
RSPRetail selling priceThe price the retailer sells the product to the customer for.
SALSASafe and local supplier approvalAn industry standard for smaller and local suppliers to produce under, find out more here: https://www.salsafood.co.uk/
SELShelf Edge LabelThe label that displays the price below or above the product
SRPShelf Ready PackagingA display box that sits on the shelf to help store staff and to showcase your products
Supplier PortalA Retailer's system processThe listing process is usually completed on a electronic system called a portal
Transit TrialTravel test your productBy sending your products through the supply network, depot, RDC you can determine how it looks when it arrives in store for the shelf.
TOBTurnover BonusA volume incentive activity.
WIGIGWhen it's gone its goneA promotion mechanic that tells people there's only so many of them

Do you have a term you’ve seen that’s not included here? Please contact me and let me know so that I can help answer your queries. We wouldn’t want an acronym to stand in the way now would we?