What is the Shop Retail Audit or Store Audit?

The retail audit is a market information tool that has proven to be effective in the monitoring and control of the corporations retail or retail strategies.

The retail audit is used to establish:

• Market size, segmentation, and evolution.
• Strengths and weaknesses in distribution by area and type of point of sale.
• Positioning and valuation of brands.
• Market share.
• Price opportunities.
• Sales and Purchases (volume and value).
• Inventories held by retailers (warehouse and sales area).
• Supply (rotation).
• Average sale price to the consumer.
• Numerical and weighted distribution.
• Numerical and weighted exhaustion.
• Average sales and inventory by stores.
• Distribution of advertising material offers and preferential displays.

In other words, it is an effective way to evaluate market trends by comparing product to product and brand to brand at the point of sale.

The key features of the retail audit are:

Close monitoring of the performance of the sales of a product within the category of the product studied at a point of purchase.

Retail audit companies make possible the selection of representative places, regarding product use and population profile within the point of sale.

 

It allows the determination of costs, sizes of the different spaces of a point of sale for the location of products and product lines.

In general terms, the retail audit companies in India offers results with high doses of precision and comparability for the taking of specific decisions in the areas of product (characteristics, design, packaging), communication (merchandising, advertising, promotion), price and distribution or an aggregate of the four.

The first step of the retail audit is to analyze the distribution flow of the product, analyzing the whole chain from the producer to the final consumer, the questions that must be asked by those who intend to make an audit of this type are:

• Where is the product sold? They have their own sales points; they work through retailers, they are sold in the large chain stores.
• What is sold of the product? Your brand is sold, its characteristics, its technology, its design.
• How much does the product sell? What is the retail price at the point of sale, how much is the margin of the producer, what is the margin of the retailer?

Make your supply chain under control with retail audit companies in Delhi. If there is something that you have to protect is the reputation of your company. The relationships with their suppliers depend entirely on well-detailed contracts, although almost all of them also depend on trust. Reviewing your suppliers gives you the guarantee you need, and this is the reason why retail audit companies offer external audits in the sector about everything that has to do with your corporate social responsibility. We help you establish a clear limit against child labor, low wages and discrimination in the workplace. As experts in the field of food standards, we also specialize in the review of suppliers regarding quality and safety of the food industry.

Benefits:

• Protect yourself proactively against any damage caused to your image by third parties
• Develop a useful tool to evaluate suppliers and manage their supply chain
• Improve the credibility and model of your company
• Create a solid foundation for an open dialogue with consumers, no matter how talented they are.