eCommerce Service Providers

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Manufacturer – A company that makes goods for the purpose of sale.

Manufacturer’s Suggested Retail Price (MSRP) – The price at which a manufacturer recommends that retailers sell a given product.

Margins – The difference between what a retailer pays for a product and what the retailer’s customer pays for the product. Margin calculations may consider only the cost of the goods sold or may take into account overhead and other variable costs.

Minimum Order Size – Manufacturers or distributors may require retailers to place orders that meet a minimum value or unit count. This requirement would be the minimum order size.

Multi-Channel Retailing – Retailing products through more than one channel where channels include online stores, online marketplaces like Amazon, physical stores, physical catalogs, and similar.

Margin – margin is the profit percentage of a sale, after the cost of goods and expenses have been factored in. Margin percentage is an essential metric in establishing the level of profitability in a given sale or product line.

Multi-Channel Ecommerce – multi-channel ecommerce is the process of selling goods and services across multiple different channels and devices, including online and on mobile.

Merchant Category Code – A code that a credit card company designates that is 4 digits long. The code lists the service, line of business, or product of the merchant. Within the United States, the merchant category code can be used to detect whether or not a sale has been reported for tax purposes.

Monitor Shopping – Monitor shopping is a play on the term “window shopping”. Consumers are now using their computers and mobile devices to surf the web much like they use to peruse malls and window shop, only now it involves browsing various online stores without buying anything.

Magento – An open source eCommerce platform that allows merchants and developers to create rich and flexible eCommerce websites. The customization and functionality of Magento can be further enhanced through Magento Connect, a massive extension marketplace. Magento is also backed by a global community that has sparked a passion where its members continuously share, improve and learn about the platform, pushing Magento to new frontiers and causing it to evolve over time.

Merchant Account – Essentially a bank account used to hold funds obtained from a credit card purchase. Store owners have to apply for a merchant account.

Manual Payment Systems – Allow merchants to accept manual forms of payment e.g. Mail Order, Direct Deposit, and Cash on Delivery (COD).