Online selling: A glossary of terms
If you’re just starting to sell online – or even if you’ve been doing it for a while – you may find the terminology confusing. With technical terms, abbreviations and acronyms, you may feel like you’ll never get your head around it all.
To help, we’ve pulled together a list of commonly used terms to help you navigate the world of online selling with ease. Add it to your bookmarks so it’s always close at hand.
B
BNIB
Brand New In Box. The item being sold still has its original packaging.
BNWT
Brand New With Tags. Tells buyers that an item hasn’t been used.
BOLO
Be On The Look Out. This refers to items you should be looking for because they’re in demand or high value.
Bumped
The seller has paid to have an item shown more frequently in the algorithm in order to improve the chances of a sale.
Bundle
An order of more than one item from the same seller. Sellers may decide to offer a discount if a buyer orders a bundle because there’s only one parcel to manage and pay for.
C
Category
Refers to product categories. Categories group similar items together, making it easier for buyers to find the items they’re looking for.
Click-through rate
Refers to whether people are clicking through to your items. This will typically be represented as a percentage of people who see your items and click through to the product page. If you have a high click-through rate, lots of people are interested in your product.
COA
Certificate of Authenticity. This may be supplied with rare or high-value items to prove that they are real.
Condition
A description of an item’s state. For instance: NWT, NWOT, BNWT, Like new and VTG.
Cross listing
Selling the same product across multiple marketplaces.
Cross-sell
Refers to promoting similar or related products together. For instance, if you’re selling a wedding guest outfit, you may mention that you’re also selling a matching hat in the product description.
D
Delist
The process by which a product is removed from sale. For instance, if it has sold on a different platform, or the seller no longer wants to sell.
Distributor
Someone who buys items from a manufacturer and sells them on to other businesses.
DM
Direct message. Allows buyers and sellers to communicate. See also PM.
F
Flipping
The process of buying a low-value item and reselling it for a higher price.
Fulfilment
The process of packaging and mailing an item, thus fulfilling the order.
H
HMRC
His Majesty’s Revenue & Customs. If selling online is a business, you may find that you need to declare your activities to HMRC and register for tax.
HTF
Hard to Find. This indicates that an item is rare and possibly in demand.
I
Inventory
Refers to a seller’s stock, or the items they have to sell.
K
Keyword
A word or phrase that a buyer uses when searching for an item. Using popular keywords relating to your items can help them get found.
Kilo sale
A secondhand item sale, where everything is sold by the kilo. You typically don’t know what you’re getting but it can be an inexpensive way to source new stock.
L
Like new
Describes an item that’s been used but shows little or no sign of wear.
Listing
A page featuring information about a product for sale. This will typically include a headline, description, price, size and images.
Lowball
Used to refer to a buyer putting in a low offer for an item. Sellers do not have to accept a lowball offer. They can counter-offer or decline.
M
Margin
Short hand for profit margin. Refers to the money left over once your item, packing and mailing costs have been deducted from the sale value. For example, if you sell an item for £15 and your costs come to £5, your margin is £10. Unlike ROI, margin is an amount rather than a percentage.
Marketplace
An ecommerce website that allows multiple sellers and merchants to sell their items. Read more about the best online marketplaces.
MOQ
Minimum Order Quantity. When buying in bulk, sellers may require you to buy a minimum number of items.
N
NWOT
New Without Tags. This shows that an item is new but the tags have been removed. For instance, the seller changed their mind about wearing it.
NWT
New With Tags. Indicates that an item is brand new and has never been used.
P
P&P
Postage and Packing. Refers to the additional processes and costs related to selling online.
PM
Private Message. This allows buyers and sellers to communicate about items. See also DM.
Product Title
The first line of a listing, designed to get buyers to click through and see the item. It can sometimes be referred to as a headline.
R
Relist
This is the process of reuploading an item to a marketplace. For instance, if an item failed to sell, it might be delisted and then relisted, in the hope that more people see it.
Resale
The act of selling an item you’ve previously bought, whether that’s something you no longer want or something you bought with the intention of selling it on.
Reseller
Someone who regularly buys items with the specific intention of selling them on for a profit, rather than selling items they’ve simply finished with. See also Flipping and Sourcing.
ROI
Return on Investment. This shows how much profit you’ve made compared to what you spent buying the item, expressed as a percentage. For example, if you bought an item for £10 and sold it for £15, your profit is £5, giving you an ROI of 50%. A high ROI means an item is worth sourcing again.
RRP
Recommended Retail Price. This might be the price a brand or manufacturer places on an item. It can be used in a product listing to show the level of discount a buyer will get if they buy from you.
S
SKU
Stock-Keeping Unit. Pronounced ‘skew’, a SKU is a unique product code that refers to a particular set of items. For instance, all small blue dresses in a particular style may have the same SKU. It can be used to differentiate products on high-volume ecommerce sites. It helps to manage inventory and report on performance.
Sourcing
The process of finding items to sell. This could include visiting charity shops, wholesalers, kilo sales and upcycling. Find out more in How to sell online.
Stock
The items that you have available to sell i.e. a dress that is in stock. See also Inventory.
T
Trusted seller
A seller that has lots of positive reviews and feedback. Buyers are often most happy to shop with trusted sellers.
U
Upsell
Refers to the process of encouraging buyers to buy a more expensive item. For instance, they may be interested in buying a dress, but you DM them to suggest a similar, but more expensive dress.
V
Verified seller
A seller whose identity has been verified by the platform. If something goes wrong, the platform is more likely to be able to rectify the issue.
VTG
Vintage. Something that is not current stock.
W
Wholesale
A business that sells large volumes of items to other businesses for a lower price, in order that they can be resold for a profit.
Ready to put your new vocabulary to use?
Now that you’ve got to grips with the basics, you’re closer than ever to starting – or growing – your online shop. If you’re looking for a place to sell that’s built around more than profit, try Causee. We’re an ethical online marketplace where a hundred percent of our profits go to charity, so every sale you make helps support a good cause.
