Shopping Terms: Here's What You Need To Know

As with every sphere of life, shopping has its' own set of terminology.

These are catch words or phrases that explain a concept or circumstance.

So before you venture out to shop 'til you drop, take a look at these shopping terms you should know.

*Lay-Bye: A lay-by agreement lets you buy a product and pay for it in two or more instalments before taking it home. So if you see a cute dress during the middle of the month but are a bit cash-strapped, you can make a small payment towards it and then possibly pay it off at month end.

*Reject: This is an item that has a defect on it, but is still wearable. It can have anything from a hole, tear, loose stitching or a button missing.

*Markdown: Is the devaluation of a product. It is an attempt to sell it a lower price than originally planned because the store possibly bought too many, or it was the wrong color or style that they intended to purchase. These are also implemented for year-end sales etc. This can be given in the form of an amount or percentage.

*Discount: Is a reduction in the price of an item, and can be based on anything from loyal customers to pensioners. A good example is Clicks, which has a customer card where you earn discounts and can enjoy the buy 3 only pay for 2 deal.

*Loyalty points: Is a system developed by retailers where shoppers are given loyalty cards which they swipe every time they shop. Every time the card is swiped your earn points as per their specific system. With some shops it's earn 1 point for every rand you spend. These points can then be used to make purchases, depending on the value of your points.

*Returns: The act of a customer returning an item to the store for their money back. This can be due to an unsatisfactory product which is either not the correct fit, has expired, is defective or does not meet its' intended use.

*Exchanges: The act of a customer exchanging an item at the store for something else of the same value. Many times this is linked to an incorrect size or returning gifts etc. 

And there they are! Terms you should know when going shopping. These are not just handy at Factory Shops, but at any store you visit.

Have any terms you think we should add to the list? 

Write them in the comments below :)

Image Credit: Google Images.