Food Industry Glossary

Like every industry, the food industry has special terms we use to describe aspects of our business. This glossary can help newcomers learn terminology and help seasoned food industry experts keep up to date.

TERM DU JOUR

dollar store

A small-footprint retailer offering a wide variety of merchandise but a limited number of stock keeping units (SKUs) in each. The name comes from the practice of selling all merchandise at $1 or less, although few chains actually adhere to it. Once viewed with disdain by product manufacturers as a place for diverted or damaged product, the channel has produced two significant players -- Dollar General and Family Dollar -- whose size and increasing sophistication have made them key accounts for a number of consumer packaged goods (CPGs).

FACTS & FIGURES
The supermarket industry employs

5.5 Million people

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Latest Additions:

  • self-facing fixture

    A rack or shelf that uses either gravity or mechanical means to replace an item when one item is removed by a customer.

  • dollar sales

    Amount of product sold at retail expressed in dollars. Unit Sales x Avg Price/Unit = Dollar Sales.  Equivalized (EQ) Sales x Avg Price/EQ = Dollar Sales.  Most often used by Sales and Finance, also by Marketing. Good for comparing across categories since dollars are common to everything sold in the store.

  • electronic signature capture

    A liquid-crystal touch screen that records a signature as a digital image, which reduces paperwork.

  • price discrimination

    Discounting a product's price for one customer and not for others within a trading area.

  • safety stock

    A back-stock of products kept to replenish shelves.