VOCABULARY

Apuntes

• Subtopic: Retail and Commerce Vocabulary Recommendation engine: A tool that uses AI to suggest products to customers based on their preferences and past behavior. Dynamic price optimization: Adjusting prices automatically using AI to maximize sales and profit. Unified commerce platform: A system that connects all shopping channels (online store, app, physical store) into one smooth experience. Retail sector: The part of the economy made up of businesses that sell products directly to consumers. Customer engagement: How involved or connected customers are with a brand through actions like clicks, likes, or feedback. Total cost of ownership: The full cost of a product or service over time, not just the purchase price. Streamlining: Making a process simpler and faster to save time and resources. Tailor promotions: To personalize or adapt special offers to each customer's needs or behavior. Inventory levels: The quantity of goods a company has in stock at any given time. Conversion rate: The percentage of visitors who complete a desired action (like making a purchase) out of all visitors. Gross margin: The total amount of money a company earns from its sales before costs a...