What does BOGO stand for?
AnswerBuy one, get one
BOGO deals give a second item free or discounted.
Business · Facts & stats
Sale facts & stats
7 fact-checked facts about sales, discounts and the psychology of selling, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
What is the main purpose of a clearance sale?
AnswerTo clear out old inventory
Clearance frees up space for new stock.
Going deeper
What is another common name for a garage sale?
AnswerYard sale
Garage and yard sales are informal home sales.
An $80 item is 25% off, then an extra 10% off the sale price. What is the final price?
Answer$54
$80 less 25% is $60, and 10% off $60 gives $54.
What does POS stand for in retail?
AnswerPoint of sale
The point of sale is where a transaction is completed.
Expert level
What is price anchoring?
AnswerShowing a higher reference price so a sale price seems better
The first number seen shapes how buyers judge later prices.
What does SKU stand for in retail?
AnswerStock keeping unit
A SKU is a code a retailer uses to track each product.
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