ASP
Average Selling Price
Average revenue per item sold within a period.
Luxury glossary: terms and definitions
Discover key language used across luxury retail, design and manufacturing. Learn acronyms, shop floor terms and strategic concepts.
A
B
BOH
Back of House
Non-client areas handling stock, packaging and operations.
C
Clienteling
Clienteling
Personalized relationship-building through tailored outreach and services.
CRM
Customer Relationship Management
Systems and strategies to manage client data, loyalty and outreach.
F
FOH
Front of House
Client-facing areas including sales floor and welcome zone.
K
KPI
Key Performance Indicator
Metric used to measure sales, service or operational performance.
L
LG
Leather Goods
Leather-based products such as handbags and belts.
P
POS
Point of Sale
System used to process transactions and capture sales data.
R
Retail Excellence
Retail Excellence
Operational standards and practices that sustain luxury service quality.
RTW
Ready-to-Wear
Pre-made apparel available in standard sizes.
S
Sell-through
Sell-through
Percentage of inventory sold within a defined time period.
SKU
Stock Keeping Unit
Unique identifier used to track individual products and variants.
SLG
Small Leather Goods
Small leather accessories like wallets and cardholders.
V
VM
Visual Merchandising
Presentation of products to enhance storytelling and sales.
