Glossary

A unicorn is a privately held start-up company valued at over £1 billion. The term was coined in 2013 to represent the statistical rarity of such successful ventures.

Unit economics refers to the financial analysis of the revenue and costs associated with a single unit of a product or service. It involves understanding the profitability and viability of each unit sold, taking into account factors such as production costs, pricing, customer acquisition costs, and customer lifetime value. Analysing unit economics helps businesses evaluate the financial sustainability and scalability of their operations at a granular level.

Upselling involves selling a more expensive version of a product a customer is considering, while cross-selling involves selling related or complementary products. Both strategies aim to increase the value of a sale and enhance the customer experience.

UX refers to the overall experience a user has when using a product or service, especially in terms of how easy or pleasing it is to use. It's a fundamental aspect of product development and design.

User Generated Content (UGC) refers to any content—text, reviews, pictures, videos, etc.—created by individuals, typically, customers of a brand. UGC can be a powerful promotional tool for an e-commerce brand, as it enhances authenticity and trust.

User interface (UI) refers to the visual design, layout, and interactive elements that users interact with when using a software application or website. In both SaaS and e-commerce sectors, a well-designed UI plays a crucial role in providing a positive user experience, enhancing usability, and facilitating customer engagement. A user-friendly and intuitive UI can lead to increased customer satisfaction, improved conversion rates, and higher user retention.

User sessions represent the interactions or activities of individual users on a software application or website during a specific period. It refers to the duration of time a user spends engaging with the platform or website before ending their session. Tracking user sessions helps businesses understand user behaviour, identify patterns, and gain insights into user engagement, session duration, and overall platform or website performance.

Venture capital (VC) is a form of private equity investment provided to early-stage, high-growth companies with significant potential for long-term growth and substantial returns. VCs provide funding in exchange for an equity stake in the company. Besides financial investment, venture capitalists often bring strategic guidance, industry expertise, and valuable networks to support the growth and success of the invested companies. Venture capital plays a crucial role in financing innovative startups and fuelling entrepreneurship, providing capital for research and development, market expansion, and scaling operations.

The vesting period is the time frame over which an employee or founder earns the right to certain benefits, often shares options. Until fully vested, the individual may not have full ownership or access to these benefits.

Virtual reality shopping is an emerging trend in e-commerce where users navigate a 3D online representation of a store, selecting products as they go. This technology enhances the shopping experience, making it more engaging and interactive.

Voice commerce, or v-commerce, refers to interactions with commercial websites through voice recognition technology. It allows customers to make purchases online using voice commands, offering a convenient and hands-free shopping experience.

A warehouse management system (WMS) is software or a system used to effectively manage and control warehouse operations. It enables businesses to optimise inventory storage, track stock movements, streamline order fulfilment, and enhance overall efficiency in the warehouse environment.

Warranties are contractual assurances provided by the seller or business to the buyer or investor regarding the quality, performance, or condition of the products, services, or assets being sold. These warranties outline specific guarantees, such as the functionality of software, absence of defects, compliance with specifications, or protection against intellectual property infringement. Warranties aim to instil confidence in the buyer or investor by mitigating risks and providing recourse in case of non-compliance or issues with the purchased products or services.

A white label product is a product produced by one company (the producer) that other companies (the marketers) rebrand to make it appear as if they made it. It allows the latter to sell the product under their brand name.

A wishlist is a feature on e-commerce websites that allows users to create personalised collections of products they want to buy later. It helps businesses understand customer preferences and tailor marketing efforts accordingly.

Working capital represents a company's short-term financial health and efficiency, calculated as the difference between current assets and current liabilities. It indicates a company's ability to cover its short-term obligations with its short-term assets.

Zero-party data refers to information that consumers intentionally and proactively share with brands, such as personal preferences or purchase intentions. It's valuable for personalising the shopping experience and building customer trust.