What Is The Real Purpose Of Retail Audits

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What is the Real Purpose Of Retail Audits

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  Created By astm.co.in

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Index

• 1. What is meant by Retail Audits
• 2. Real Purpose of Retail Audits
• 3. Some Questions That You Want To Design For
  Reports

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What is Meant by Retail Audits

• A retail audit is brought out on a certain number
  of retail outlets to measure volume, stock
  levels, sales volume, the effectiveness of
  in-store display and promotion effort, and other
  associated aspects.
• Technology is one of the key tools used by
  companies to carry out a retail audit.
• It can be used to obtain product information,
  evaluate the competition, getting real-time data
  and improving performance trends.

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Real Purpose of Retail Audits

• Many of the retailers, grocers and franchisors
  alike perform regular store audits in all of
  their locations.
• Supervisors who follow these audits typically
  have a checklist full of question and tasks that
  they have to mark as complete.
• But what is the benefit of doing retail audits?

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• After doing audits, either the results will get
  shoved in a filing cabinet or supervisors will
  submit their results to the corporate so that
  executives can verify initiatives are completed.
• So in short, the current purpose of retail audits
  is to verify task completion.
• Doing store audits only to mark off tasks is the
  old way of doing things.

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Some Questions that you want to Design for Reports

• 1. How is the company doing on a particular task?
• 2. What are the bottom performing initiatives
  company-wide?
• 3. How does each store compare in performance and
  by the department, both of this are the week and
  over time?
• 4. Which stores are consistently performing
  correctly? Are there promotion opportunities at
  those stores?
• 5. Has the each retail audited the
  week/month/quarter?

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• By having access to all the above information,
  your management team will be able to make more
  informed decision about where to use the time.
• If you are bothered about investing the time into
  the compiling reports, consider investing in a
  store audit software solution.
• That type of solution will not only compile the
  data you need but be your complete store audit
  tool.

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• A retail audit software application allows you to
  input your checklists, complete reports, and
  track trends all from one place.
• It will not only save you time but also gives you
  the actionable data to make better business
  decisions without going through the problem of
  compiling all those paper audits.

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• In the end, whether you use the paper audits or a
  software solution, the primary purpose of a
  retail audit is to get the complete data you need
  to improve your business continuously.
• Use your store audits to verifying the task
  completion to improve the overall quality of your
  company.
• If you are looking for a retail audit of your
  company, you can consult with ASTM skills Pvt
  Ltd.

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THANK YOU