Retail audit involves the
measurement of market via retail sales. Retail audit interviewers perform
regular visits to points of sales to collect information on retail purchases,
retail selling prices, stock, distribution, and customer’s opinion.
A retail audit generally
measures what brands are sold and their quantity sold in a certain period
providing very accurate information on broad market shares, market sizes and
sales trends. There are different types of retail audits to specify the data
collected. For example companies often organize retail audits to provide a
comparative look at the sales of competitors.
Aggregating retail data
and analyzing trends companies get total market estimates and can develop
marketing strategies based on actual information. The power of retail audit
data lies in the coverage of stock and distribution so the more points of sales
are covered with retail audits the more reliable overall picture of retail
conditions you can get.
Companies put much effort
and spend money routinely performing retail audits. But their efforts often
break down in practice with multiple locations to audit and significant amount
of retail data to be analyzed. To reduce chances of bias or unprofessional
approach to auditing companies often use the services of third-party
organizations (advertising, marketing, consulting and BTL agencies) to organize
retail-auditing process. The disadvantages of this option are the costs, poor
cooperation between managers, loosing part of retail audit data, fraudulent
reports, big time gaps between a store visit and appropriate company's actions.
Today due to the new
mobile technologies field reps empowered with a retail
audit software solution are able to perform retail audits using just their
tablets and smartphones with no need to visit the office to report the results.
All the data collected at stores is automatically synced with corporate
database and is instantly available for building analytic reports. The new way
of retail audits organization provides faster data workflow and reduces time
for decision-making, improving the bottom-line.
It has always been
considered that setting up a retail audit is expensive and requires significant
efforts. Due to retail audit software you
can set up an automated retail audit in less than an hour, and analyze all the
information from points of sale live, as soon as your field reps collect it. Today
the option of in-house retail audits organization is more affordable than ever:
the price on a retail audit software solution starts from $24 per user/month.
Moreover a company can get your retail audit software completely free to start retail audit
automation free of charge at no risk.
To learn more about
retail audit management or how to organize a retail audit using a retail audit
software solution visit www.visitbasis.com.
Comments
Post a Comment