CRA Retail Industry Foundations 3

Question 1

Which metric measures the productivity of retail floor space by comparing net sales to total selling area?

Accepted Answer

Sales per square foot

Answer

Sales per square foot is a key space-productivity KPI calculated as net sales divided by total retail square footage.

Question 2

In retail supply chain management, 'cross-docking' refers to:

Accepted Answer

Transferring inbound shipments directly to outbound vehicles with minimal warehousing

Answer

Cross-docking moves merchandise from receiving docks to outbound trucks quickly, reducing storage costs and improving replenishment speed.

Question 3

Which of the following is a characteristic of 'everyday low pricing' (EDLP)?

Accepted Answer

Consistently low prices with minimal reliance on temporary promotions

Answer

EDLP strategies maintain stable, competitive prices year-round rather than cycling between regular and sale prices.

Question 4

A 'planogram' in retail operations is best described as:

Accepted Answer

A visual diagram specifying how and where products should be displayed on shelves

Answer

Planograms guide store associates on exact shelf placement of each SKU to maximize sales, comply with vendor agreements, and maintain visual consistency.

Question 5

Which of the following best defines 'anchor tenant' in the context of a shopping mall?

Accepted Answer

A large, well-known retailer that generates significant traffic for the entire center

Answer

Anchor tenants like department stores or big-box retailers draw consumers to the mall, benefiting smaller co-tenants through spillover traffic.

(CRA) Certified Retail Analyst Practice Test

(CRA) Certified Retail Analyst Practice Test

CRA Retail Industry Foundations 3