Consignment Meaning: Definition, Examples, and Translations
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consignment
[kษnหsaษชnmษnt ]
Definitions
logistics
A batch of goods destined for a single recipient or delivery address, typically transported together.
Synonyms
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| consignment |
The term 'consignment' is often used in business contexts where goods are sent to a consignee (person or company) for sale. The consignee does not pay for the goods until they are sold.
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| shipment |
'Shipment' is used to describe a batch of goods being sent, often by freight, and can be used in various stages of the supply chain. It is broader than 'delivery' and often used in a business or industrial context.
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| delivery |
'Delivery' is used when referring to the act of transporting or distributing goods to a particular location, often directly to a customer. This term is common in retail and e-commerce.
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| cargo |
'Cargo' refers to goods or products that are transported, typically in large quantities, by ship, plane, or another vehicle. It's commonly used in the logistics and shipping industries.
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Examples of usage
- The consignment of electronics was shipped to the warehouse for distribution.
- The consignment of clothing arrived at the store earlier than expected.
legal
A batch of goods sent by a seller to a buyer on approval and on condition that the buyer only pays for what is sold.
Synonyms
allocation, assignment, commission.
Which Synonym Should You Choose?
| Word | Description / Examples |
|---|---|
| consignment |
Use this word when referring to a shipment of goods that are sent somewhere, typically to be sold or stored.
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| commission |
Use this word when talking about a formal request to produce or provide something, especially a work of art, or when referring to a fee paid to someone for their services.
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| assignment |
Use this word when referring to tasks or duties that are given to someone as part of their job or studies.
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| allocation |
Use this word when talking about distributing resources or responsibilities among different people or projects.
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Examples of usage
- The consignment of jewelry was sent to the boutique on a sale or return basis.
- The consignment of artwork was on consignment with the gallery for the upcoming exhibit.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Commerce
- Consignment stores often sell used or vintage items, tapping into a sustainable approach to shopping.
- Retailers typically charge a commission for selling consigned items, which serves as motivation for both the seller and the store.
- The concept supports small businesses while minimizing risk for sellers, making it a popular method in various markets.
Psychology
- Trust plays a significant role in consignment transactions, as sellers rely on store owners to sell their items responsibly.
- People may feel more connected to items they sell on consignment, enhancing their emotional experience of shopping.
- The model can promote a sense of community, as local businesses often support each other by selling consigned goods.
Cultural Significance
- Consignment shops have grown popular in urban settings, catering to trends of thriftiness and eco-consciousness.
- In some cultures, consignment is part of traditional barter systems, where goods and services are exchanged without monetary transactions.
- Specialty consignment stores focus on specific items like art, furniture, or fashion, creating unique shopping experiences.
Legal Aspects
- Consignment agreements often include terms that define ownership of items until sold, protecting both seller and consignment shop.
- Tax implications can vary, as some regions require consignment sales to be reported differently than traditional retail sales.
- Legal disputes may arise if the terms of the consignment are not clearly communicated, highlighting the importance of written agreements.
Origin of 'consignment'
Main points about word origin
- The word 'consignment' comes from the Latin 'consignare', which means 'to mark with' or 'to sign together'.
- It first appeared in English in the 17th century, often in shipping and commerce contexts.
- The prefix 'con-' means 'together', indicating the cooperative nature of transferring items.
The word 'consignment' originated in the late 16th century from the French word 'consigner', meaning 'to entrust'. It initially referred to the act of consigning goods to a person. Over time, the term evolved to specifically denote a batch of goods sent for sale or distribution. The concept of consignment has been integral to trade and commerce for centuries, allowing sellers to reach broader markets and buyers to access a variety of products.