Study of a selected sample of retail outlets to gather information on a brand’s sales volume, sales trends, stock levels, effectiveness or in-store display and promotion efforts, and other associated aspects is defined as a Retail Audit.
If you want to be relevant and competitive in any industry, periodic Retail Audit is essential.
The two types of primary retail audits that one should perform are Price audit and Compliance audit. The Price audit will help you in keeping track of all opportunities and maintain your competitiveness in market. The Compliance audit will ensure that all subsidiaries or branches comply with the Company’s common vision, mission and process designed for them.
- Monitored and measured service performance
- Improves customer retention
- Makes employees aware of what is important in serving customers
- Monitors facility conditions
- Ensures product/service delivery quality
- Supports promotional programs
- Allows for competitive analyses between locations
- Identifies training needs and sales opportunities
- Ensures positive customer relationships on the front line
- Enforces employee integrity and knowledge
- Supports hustle by employees to meet customers
MDS accumulates data in a web-based form with an easy to access as well as secure dashboard. Thus, it becomes relatively easy for you to view and compare data between current and previous audits, and thus take timely action to rectify or improve the performance of the overall Company.