Why do companies conduct Retail Audits?
Retail Audits are a crucial sales and forecasting tool used to maintain in-store product presentation. Brands rely on the data points and information gathered to make informed decisions about their retail strategy, product positioning, and promotional efforts.
The types of information gathered during a Retail Audit often relate to:
- In-store displays
- Planogram compliance
- Shelf presence
- Promotional materials
- Physical location of your product
- Product stock levels
Retail Audits are also conducted to monitor Competitor Activity in regards to placement, pricing, and promotions.
More specifically, these include:
Regular & Competitive Price Tracking
Number of Facings
New Product Availability
Overall, the information gathered provides a much-needed guide when making decisions about sales strategy. brand identity, and product positioning.
How does the Retail Audit process work?
The core of the retail audit process is gathering in-store data that answers specific questions.
The entire process starts with defining these questions.
How many locations will be included in the project?
Are these urban, rural, or both?
Do some locations take priority over others in the overall project timeline?
What information needs to be gathered at each location?
Is there a merchandising element to the project?
Who is the point-of-contact to oversee the project?
Define the standards and communication expectations when monitoring the project.
Every company faces unique challenges, which is why every retail audit project will include specialized planning.
In general, a foundational retail audit process follows these steps:
- Define your goals
- Plan your criteria
- Gather in-store data
- Review results
- Take action
- Monitor activity
Our Retail Audit Programs
We offer a wide array of retail services ideal for differing industry needs, preferences, and budget. Our customizable retail service plans ensure comprehensive results and accurate perspectives on your retail performance and presentation.
Our nationwide team of over 100,000 Field Representatives provides the resources needed to gather key insights about your stores or products.
- National coverage, including metro Canada
- Individually vetted for each specific project
- 76,000+ retail audits completed in 2017
- 112950+ retail audits completed in 2018
- 98% average completion rating
We partner with leading technology platforms to provide you retail data reporting with the flexibility and precision that your company deserves.
- Mobile Data Collection
- Real-time Results
- Custom Reporting Dashboard
- Export to Salesforce
- Geo-stamped to verify time and location
Contact us below for more information or cost estimation for an upcoming project.