A retail audit is a study that is carried out on a regular basis and is a collection of data on prices, assortment, sales, etc.
With the help of a retail audit, you can determine the availability of brands in a retail network, their prices, sales volumes. A retail audit refers to a selective study that can be used to obtain market data. At the same time, as a rule, it is carried out systematically, studying the dynamics of changes in the studied phenomena and processes.
Based on the results of the audit of retail trade, management decisions are formed aimed at improving the efficiency of the company. If it is carried out regularly, the company's turnover can increase by 30% within three months.
So, retail audit allows you to perform the following tasks:
- determine trends in sales volume;
- identify differences in consumption in different regions;
- segment the market and identify niches in it;
- identify the shares of the main market players;
- evaluate the impact of changing elements of the marketing mix, such as price, on sales;
- determine the level of distribution;
- identify the role of distribution channels;
- determine the strengths and weaknesses of the goods presented on the shelf.
The following advantages are characteristic of the audit of retail trade: objectivity, simplicity, accuracy, efficiency, relative cost-effectiveness. Entrusting the audit to a research company is considered the most optimal approach, since the research is carried out by objective experts.