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:

  • convenience store

    A smaller, compact, self-service store with a limited number of brands and stock keeping units (SKUs) focused on high usage and immediate consumption. The option to purchase auto fuel may also be included at the store.

  • profit and loss statement (P&L)

    A financial statement of gains and losses for a specific time period.

  • captive brand

    A product line sold exclusively through one retailer whose trade dress is not owned by that retailer, or whose manufacture is not specifically contracted by that retailer (and therefore doesn't classify as private label). See private label.

  • order code

    A product's number used to order items from a warehouse.

  • bread & butter account

    A consistent, high-volume product for a wholesaler or broker.