Retail audit is the study of selected retail outlets for collecting data about the health / visibility of a brand’s products. This is a primary physical research process, wherein a trained auditor visits the establishment and validates information such as:

• Sales volume
• Stock levels (shelf and backstock)
• Descriptions of in-store displays and promotional materials
• Competitor activity
• Planogram compliance (shelf location, number of facings present, number of SKUs present, missing/inaccurate shelf tags)
• Pricing
• In-store location of products
• Product damage

Importance of Audit

There are dual benefits of conducting a retail audit. One, the audit serves as a tool for suppliers to confirm that retailers are adhering with pre-established protocols on product placement, pricing and promotion. Two, the audit allows brands to precisely measure their success in the retail atmosphere.

Retail Consumer Questionnaire

In some cases, brands want to know the disposition of their products which are being stocked and stacked (or could potentially be stocked in the future). The parameters are as follows:

• Consumer sentiments are measured by interacting scientifically with the potential customer at the shop. The process involves Entry & Exit Interview.
• Retail outlet survey also includes below factors:
  • Cleanliness & Layout
  • Location of the store basis footfall
  • Visual Merchandise of the store
• Competition's qualitative and quantitative information will also be covered under the survey, for example:
  • Visual appeal of multiple brands presents on the shelf?
  • Are there any emerging or established brands in the client's category?

Contact Us to Know More: https://www.techsciresearch.com/request-consumer.aspx

Audits are of Two Types - Retailer Audit & Distributor Audit

Retail Consumer Questionnaire

In some cases, brands want to know the disposition of their products which are being stocked and stacked (or could potentially be stocked in the future). The parameters are as follows:

• Consumer sentiments are measured by interacting scientifically with the potential customer at the shop. The process involves Entry & Exit Interview.
• Retail outlet survey also includes below factors:
  • Cleanliness & Layout
  • Location of the store basis footfall
  • Visual Merchandise of the store
• Competition's qualitative and quantitative information will also be covered under the survey, for example:
  • Visual appeal of multiple brands presents on the shelf?
  • Are there any emerging or established brands in the client's category?

Retail Auditing Services At TechSci Research: https://www.techsciresearch.com/consumer/retail-audits.aspx

Retailer Audit

The objective of retailer audit is to measure the brand's performance. TechSci uses merchandising reports to track:

• Inventory levels
• Availability of the products
• Quality of products vis a vis competition
• Shelf life
• Reorder Level
• Maximum retail price
• Discounts and other BTL activities vis a vis competition

Promotional Report

If a brand is holding a sale or other type of special promotion, it's important to track the success of the BTL activity to understand the likeability across target customers and to know how it's performing in the short-term. This helps in improving the features. Also, it's vital to report:

• The type of promotion for example tasting, demo, price reduction, etc.
• The duration of the promotion
• The featured product SKUs
• The position of the brand in-house
• The result of the sale
• Effectiveness of the promotion:
  • Are consumers engaging with your brand?
  • Are retailers complying with the placement of promotional materials?

View TechSci Consumer Research Services: https://www.techsciresearch.com/consumer/consumer-research.aspx

Distributor Audit

Distribution Audits /Competitor Survey

One audit that brands shouldn't overlook is the competitor's survey, which reveals invaluable insight into how their brand is positioned against the competition of that category. TechSci identifies:

• Who are direct and indirect competitors present in the store?
• Pricing strategies
• Is your brand being significantly stacked?
• Location of the competitor's products
  • Prime placement at eye-level or near a checkout counter
  • Location (high- or low-traffic area)

How we do it?

TechSci has a continuous audit process to ensure that the client's business values and standards are being followed in every single supply chain process. TechSci monitors every leaflet distribution campaign by:

• Using a tracking app (along with the geo coordinates, date and time)
• Pre-designed retail tracking templates for quick turnaround time

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

Contact

Mr. Ken Mathews

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Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: sales@techsciresearch.com