What is Store Audit
Store Audit is conducted to physically verify the stock count of merchandize available in store, how store layout and aesthetics can enhance customer experience, does the sales representative have adequate knowledge of the products sold, are all stock uniquely identifiable and also reconciliation of stock as per stock data with available stock count.
Why is Store Audit Important?
A store audit is important because where there is a significant amount of human element involved, there are bound to be inefficiencies in the system. Therefore, periodic store audit is a requirement to ensure these inefficiencies are eliminated in a timely fashion. Also, how the store audit can help in better customer experience and whether the store is following all the organization standard procedures.
The benefits of a store audit:
- Identifying and solving inconsistencies in visual merchandising and brand compliance.
- Finding maintenance and operational issues.
- Closing the loop on task management and outstanding responsibilities.
- Creating and implementing new in-store processes and procedures.
Store Retail Audit Services
In-store retail audit help brands determine the direction and effectiveness of the retail strategy. As a renowned store audit company, Eminence Softech Pvt Ltd , our retail store audits are accurate and conducted thoroughly to be referred for studies, reconciliation, and important business decisions.
The retail audit strategy will unearth patterns and fulfill objectives that the in-store audit was undertaken for. As a retail audit company, we ensure that the on-field team is skilled, competent, and technologically savvy to adjust and bring out the best results with the provided resources.
It is often said that a retail store audit data is only as good as the quality of the audit. At Eminence Softech Pvt Ltd, we promise a competent on-field team, best resources, and innovative methods to ensure the following benefits –
- In-store audits ensure that retailers or owned stores are following guidelines with respect to promotions, products, and placements.
- Retail compliance audit by brands helps compare progress with respect to competition.
- You get plenty of retail store centric data for reference
- Field audits can profit a brand by decreasing inefficiency and increasing sales.
- To enable organizations to develop controls on how the store is being managed and operated.
- Articulate goals. Determine the main objectives of retail audit.
- Design audit criteria. Preparing the checklist of questions that will be asked in the audit and the acceptable answer types.
- Scheduling of appointment.
- Observing how the products are demonstrated, stored, etc.
- Sales Representative Knowledge about product and personnel communication skills.
- Gathering data and photos at store
- Preparation of Audit Report
- Evaluating results and defining opportunities for improvement
- Suggesting changes which can be implemented for effectiveness of store.
With the plethora of information that can be recorded from an in-store retail audit, segregation is done to ensure focused efforts. The various types of retail field audits can be classified on the basis of data types they focus on, like:
- Retail Marketing Audit – Gathers data regarding customer sentiment, store appearance, etc.
- Merchandising audit – Concerned with the brand’s performance related to inventory levels, stocks, and product condition.
- Promotional Audit – Audit by gathering of data for a recent promotional activity or a Sale undertaken by the brand.
- Store Audit
- Store Inventory Audit
- Mystery Audit
- Retail Marketing Audit
- Merchandising audit
- Promotional Audit