{"id":458,"date":"2020-12-27T15:44:44","date_gmt":"2020-12-27T15:44:44","guid":{"rendered":"https:\/\/www.cac.net.in\/blog\/?p=458"},"modified":"2021-01-09T05:59:01","modified_gmt":"2021-01-09T05:59:01","slug":"retail-audit-a-tool-to-check-the-place-of-your-brand-in-the-market","status":"publish","type":"post","link":"https:\/\/www.cac.net.in\/blog\/retail-audit-a-tool-to-check-the-place-of-your-brand-in-the-market\/","title":{"rendered":"Retail Audit: A Tool To Check The Place Of Your Brand In The Market"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">A retail Audit, is a type of research that allows you to\nboth preliminary study the business, assessing the profitability of a new\nstore, and raise the dynamics of sales and profit of an existing outlet.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A retail audit is a study that is carried out on a regular basis and is the collection of data on prices, range, sales, etc.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"684\" src=\"https:\/\/www.cac.net.in\/blog\/wp-content\/uploads\/2020\/12\/shutterstock_356788880-1024x684.jpg\" alt=\"\" class=\"wp-image-465\" srcset=\"https:\/\/www.cac.net.in\/blog\/wp-content\/uploads\/2020\/12\/shutterstock_356788880-1024x684.jpg 1024w, https:\/\/www.cac.net.in\/blog\/wp-content\/uploads\/2020\/12\/shutterstock_356788880-300x200.jpg 300w, https:\/\/www.cac.net.in\/blog\/wp-content\/uploads\/2020\/12\/shutterstock_356788880-768x513.jpg 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">With the help of a retail audit, you can determine the\navailability of brands in the retail network, their prices, sales volumes, etc.\nThe audit of retail trade is carried out systematically, studying the dynamics\nof changes in the phenomena and processes under study. However, it is also used\none-time, for example, before a promotion or the formation of a new merchandising\nprogram.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Why do you need a\nretail audit?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A retail audit is conducted with the following objectives:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Get a base for the development of new products\nand services;<\/li><li>Identify unoccupied niches in a particular area,\nassess how the company is ready to occupy a niche;<\/li><li>Assess the level of competition for certain\ngoods;<\/li><li>Get ideas for placing products on shelves;<\/li><li>Determine how it will be more profitable to\nposition new products, and much more.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Usually an audit is carried out by <strong><a href=\"https:\/\/www.cac.net.in\/retail-audit\">retail audit companies in Delhi<\/a><\/strong> before the opening of a retail outlet, since it allows you to determine its profitability, after the opening of the store.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Regular research (usually carried out twice a year) allows\nyou to evaluate your own retail outlet, make changes to the display of goods,\ntimely purchase popular brands of products, if this is not done correctly,\nthere will be aneffecton profits and sales dynamics.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>How the retail audit\nis conducted?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A retail audit usually takes place in several stages. The\nfollowing list of steps is usually highlighted. The first is preparation.\nDuring it, the goals and objectives of the project are determined, tools\n(questionnaires, instructions, control forms) and visit routes are developed,\nand auditors are instructed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The second is the field stage. It involves visiting retail\noutlets, their census and control of the work carried out. At this stage, data\nis collected on sales volumes, prices, assortment, availability of promotional\nmaterials and other parameters.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And finally, the third is processing and analysis. It is the\nfinal step, during which the market volume, dynamics and structure of the\nprice, leading brands, seasonality mechanism, features of the device of outlets\nand other parameters are determined. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After collecting all the data, the marketing research report\nis sent to the customer. The data is used to improve the performance of the\nmerchant that ordered it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Marketing research of any type is very important to carry\nout, taking into account the goals and objectives of the client. Otherwise,\nthere is a high probability that the information received simply cannot be\nused.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That is why you need to order such services from retail audit companies in India.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Retail audit data is used as a tool for smarter decisions\nand minimizing marketing and sales risk. A network retail audit is not only a\nreport on what was happening in the store, but also a tool to predict and take\nproactive actions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A retail Audit, is a type of research that allows you to both preliminary study the business, assessing the profitability of a new store, and raise the dynamics of sales and profit of an existing outlet. A retail audit is a study that is carried out on a regular basis and is the collection of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[165,21,27,22,166],"class_list":["post-458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retail-audit","tag-retail-audit-checklist","tag-retail-audit-companies","tag-retail-audit-companies-in-delhi","tag-retail-audit-companies-in-india","tag-types-of-retail-audit"],"_links":{"self":[{"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/posts\/458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/comments?post=458"}],"version-history":[{"count":3,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/posts\/458\/revisions"}],"predecessor-version":[{"id":477,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/posts\/458\/revisions\/477"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/media\/465"}],"wp:attachment":[{"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/media?parent=458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/categories?post=458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/tags?post=458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}