Questions to Ask When Performing a Retail Audit

A retail audit can be a very effective way to capture information about the performance of a retail store, whether you want to know if the products are in the right position on the shelf, whether a promotional campaign is being correctly implemented or how sales associates are relating to customers.

A professional retail audit can be conducted on your behalf by a field sales agency, as part of an ongoing strategy to monitor the retail location on a weekly or monthly basis. It will allow you to find out exactly what is happening at a store level, especially for on-shelf availability, promotional compliance and the activity of your competitors.

If you are considering using a retail audit in order to spot any areas of improvement for your store, there are a number of questions that you should ask yourself before you get started on the process.

Who is Performing the Audit?

You have a choice when it comes to who collects the audit information. You could use a representative from your company, but this can have some disadvantages. This task will take that person away from their other work responsibilities which will slow down operations and decrease productivity. Also this person will likely have a bias and will have trouble seeing the retail store objectively through the eyes of a customer.

Many businesses find it beneficial to hire a professional to carry out the task of a retail audit. The companies that offer this service have a lot of experience and they know exactly how to carry out an effective audit that will reveal what you are looking for. There are many companies to choose from that offer retail audit services.

What are you Looking to Measure?

It’s impossible to design a retail audit until you know exactly what features you will be examining within your store. It is important to ask the right questions so that you can get the answers you need to help you improve. Think about the areas in which you want to learn more and the weak spots that you want to test.

Don’t try to focus on too much with one audit, or the answers you will get will be confusing and vague. Direct your attention to only a few areas at a time so that you can look at them in depth and gain a deeper understanding.

How Will the Audit Be Carried Out?

The way that the audit is carried out will have an effect on the results that you get. How will the results be measured? What technology will be used? How will the information be compiled and recorded for future reference? All of these details need to be determined in advance, so that the audit can be carried out smoothly. A successful audit will always be well thought out in advance.

Are You Ready to See the Tough Truths?

Sometimes the retail audit process can be difficult for a company, because it reveals to them the hard truths about their weaknesses that they were trying to avoid facing. It can be difficult to realize that you have a serious problem that needs addresses, but how you react to it is what will make a difference to your future. You can accept that you need to work on and improve some areas that have been revealed in your retail audit, or you can make excuses or become defensive. If you approach the problem with an attitude of growth and looking towards the future, your company and everyone involved will benefit.

How Will You Implement the Findings?

Once the audit has been completed and the data about your retail business has been gathered, that is not the end of the story. The most important thing is what you do next with the information that has been gleaned. How will you use the observations that have been made to further the success of your company? How will you implement the changes that need to be made? Conducting an audit is not useful until you have a plan for using the information that you gather to made actionable changes within your business.

These are just a few of the important questions that you should be asking yourself whenever you are carrying out a retail audit. With the right strategy and preparation, you will be able to enjoy the many benefits thatretail audits can offer you and use the findings to increase the success of your business.