Retail Audit: An Accurate Tool For Assessing A Retail Business

Retail Audit: An Accurate Tool For Assessing A Retail Business

A retail audit is an accurate tool that provides manufacturers and distributors the required comparative information about what is happening with the products in the retail networks.

Products in the retail network are necessary elements of planning, developing, and monitoring the execution of an effective marketing and sales program.

Retail monitoring is based on the results of retail sales of the products of the studied group and the subsequent analysis of the assortment, prices, distribution tools, and advertising materials.

The main objectives of the audit of retail chains are:

  • Assessment of the category growth dynamics;
  • Assessment of the seasonality of sales for the market as a whole, different segments;
  • Share and dynamics of growth of price segments;
  • Identification of subcategories that show growth in dynamics;

Most of the audit data is useful for the marketing department, sales department, and senior managers of manufacturing companies and distributors.

A retail audit designed to improve business performance continually

One of the varieties of studying the business state comes down to constant monitoring of the area selected by the customer. With a frequency of several months, experts conduct a study of trade enterprises in the region to determine the effectiveness of trade, track new items in advertising and merchandising.

A retail audit allows owners to always receive an objective assessment of the situation, track the dynamics of competitors’ work without being distracted by independent research. At the same time, the financial and commodity component of the business is necessarily studied, which helps in timely identify violations, inconsistencies, mistakes in doing business.

A modern objective analysis of the market situation in your region, carried out by trained specialists, will ensure timely business improvement. A large practical and theoretical base guarantees the owners the receipt of data for each required period.

Thanks to a comprehensive study, the owner of a retail outlet, store, or restaurant will be able to constantly improve the company’s work, expand a niche presence, and attract more buyers and visitors.

A retail audit will solve several problems such as:

  • Expand the geography of sales, find new dealers, enter the regions
  • Find out what sellers and buyers think about your brand and competing brands
  • Evaluate the efficiency of distribution of your brands and brands of competitors
  • Optimize product portfolio
  • Increase the effectiveness of your advertising campaign

As it is known that businesses should comply with the rules and regulations issued by govt is utmost important-and to make sure this, it is necessary to contact an expert for such work.

We suggest you consult CAC and take the help of its experts to conduct a retail audit as it will help you to identify the marketing activity of competing operators in the analysed points of retail products, improve your strategy and tactics for promoting products with the involvement of the original and effective approaches and techniques of competitors.

Having solved these problems, the expert team of CAC will also offer you a complete description of possible points of sale for your products, taking into account the presence of competing operators there.

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