Every industry has its own lexicon of jargon – abbreviations, buzz phrases and acronyms that would be baffling to most outsiders. The impenetrability of this secret language often gives a business an instant veneer of professionalism that in some cases it doesn’t warrant. Yet learn and use it you must – if you wish to climb your way up the corporate ladder.
The world of travel retail is no stranger to jargon. Where would we be without our concessions, MAG’s, dwell time, RFP’s, GWP’s, tenders, SKU’s, HPP’s, category captains and 360 degree promotions? The list goes on and on, of course, and while many of these terms or vocabulary may be indispensable for us to do our jobs properly, I’d argue others are out-of-date or examples of management-speak designed to make something more impressive than it is.