A properly implemented retail audit program can give you a complete and objective picture of some issues your company might face in terms of brand perception and how products are presented and placed in stores in which they are marketed.
The retail audit program includes a complete assessment of one or more stores at the customer's request. It is recommended that this process be carried out by a company specializing in retail audit to ensure an objective external evaluation.
Retail Audit Program
The retail audit program can be implemented by any company wishing to find out more objective information about how products are presented on the shelf and how the brand is perceived. The assessment is based on analyzing how the product is positioned in the store, if the presentation and arrangement on the shelf conform to the planograms and whether the chain of stores uses best practices to maximize the sale of the product.
The retail audit analysis may also include information about how certain promotional techniques, such as special offers or free samples, have worked in the past. Retail Audit is an evaluation that can play a very important role in finding suitable solutions to increase sales.
At the end of a retail audit program, the client may have access to a database that will contain the following information:
- The development and behavior of consumers in relation to products on the shelf;
- The success level of related promotional activities: secondary placements, special promotions, promotional materials, etc.
- Assessment of the promotion team or merchandising
Who benefits from a retail audit?
The retail audit program is intended for the company that markets a particular product, to get a clear picture of the brand's perception and the actual sale of the product in the store. An audit may also have beneficial effects for the consumer if the recommended techniques for improving presentation in the store are implemented at the end.
The benefits of a retail audit program are evident at both top and regional management levels. A retail audit report will give you important information about merchandising and how it can be successfully implemented both during the year and seasonally. Moreover, following such an assessment you will be able to implement tailor-made techniques for the market segment to which you reach to maintain customer satisfaction level.
The retail audit program is tailored to the needs of the customer and the type of product evaluated in the store. Our expert team at FMCG Management can provide you with full service, including a retail audit report.