A retail audit is the control of outlets to ensure that they comply with the operating standards of the sector. These standards can include those set for the design of trading places, the placement of POS-materials, employee dress code, their merchandising and the interior/exterior/outlet layout.
Before launching a POS-audit, a pre-project analysis is carried out. This is the study of the standards of the customer’s company and the characteristics of their business and industry. After receiving written permission to conduct an inspection, 4Service staff are briefed, tested and certified. A personal, company page is created on 4Service’s online platforms for each client.
After the completion of the project, the 4Service team provides an analytical report on the status of each outlet including the following artifacts as evidence: audio, video and photo reports, signed checklists, a questionnaire with subjective and objective blocks as well as other materials. After the audit, the directors of the locations visited are given a period of time to correct any violations to standards, which were observed during the audit and act on any recommendations, made by 4Service.
WHY UNDERTAKE A RETAIL AUDIT?
The control of quality and the freshness of products. The retail audit ensures that products are stored correctly, under the right temperature and remain in a marketable state.
With the retail audit, the placement of products according to the planogram, rotation and relevance of POS materials as well as the recommended costs are checked and competitors’ retail activities (promotional products, prices for them) are analyzed.
During a retail audit, the availability, appearance and technical condition of the trading equipment, tools and inventory are also tested.
A stock take is also conducted, checking the availability of goods available on the floor and also in the warehouse.
Employees are also monitored during the audit and their observance to the corporate dress code, the cleanliness of their working area(s) and adherence to working hours evaluated.
When conducting a retail audit, it is also necessary to evaluate the effectiveness of trade marketing research, advertising campaign budgets and sales promotions while looking at the overall pricing policy and the popularization of the brand.
FOR WHOM COULD A RETAIL AUDIT BE USEFUL?
IN ORDER TO ACHIEVE MAXIMUM EFFICIENCY, WE ALSO CARRY OUT:
A distribution check is the assessment of the actual and potential saturation of the market with a specific product. It forms one of the parameters of the retail audit A Distribution Check will tell you where your product is being sold and where it could also be sold. Manufacturing company → Distributor → Dealer → Retailer → Customer WHAT TASKS CAN be SOLVED for businesses with a distribution check: The estimation of the level of market saturation with a particular product The...
Merchandising is the optimization of the trading system and is related to the preparation of goods as well as their advertising and the promotion of trading activities. Merchandising allows you to distinguish your brand products from the large number of goods in the same category. Tasks of a merchandiser: The display of goods in accordance with the planogram The reconciliation of stock with that in the warehouse The validation of prices The monitoring of the implementation...
POS audit (Point-of-Sale audit) A POS audit is the control of outlets to ensure their compliance with comply with operating standards and norms as well as the, design of trading places, the placement of POS-materials, dress code, merchandising, interior, exterior, remains and layout regulations. Before launching at the POS-audit, a pre-project analysis is carried out. This is the: the study of the standards of the customer’s company standards and, the characteristics of its business and...
Price monitoring (retail monitoring) is the analysis of the competitors’ prices with the aim of optimizing one´s own pricing policy. Price Monitoring is carried out by a team of qualified staff auditors in a short amount of time, which allowing you to quickly respond to the changes in the competitors’ prices. Price Monitoring in retail outlets is carried out in accordance to the scenario of the closed checks (hidden checks). It is carried out in 3 stages: 1. Pre-project analysis: A...
A census is the collection of information on outlets operating in a particular area, previously outlined for the study. It starts by examining legal data obtained with equipment used in the field of work as well by key technologies and ends with an analysis of the breadth of the given product range and of the turnover for key product groups. The aim of a census is to form and optimize a company’s sales policy. The market entry of a new product is preceded by a series of searches with the...