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Reservation

A reservation in retail store management is the process where the client expresses interest in buying an item, which effectively removes the same from the available inventory. Reservations are convertible to orders although at times they can be canceled if necessary.

Types of Reservations:

  1. In-Store Reservations: Customers can place an order at the store with a deposit or underpayment terms to ensure a hold of the product.
  2. Online Reservations: Customers can reserve items through a retailer's website or application, and sometimes they can pick them up in-store or arrange for delivery.
  3. Special Orders: Special orders are maintained when the items ordered are not available in stock; this order is issued after proper processing and confirmation.