How Retail Audits can Improve In-store Performance

Nov. 11, 2012 - PRLog -- We have identified five areas where we believe retail audits http://www.cjservices.co.uk can improve in-store performance:

Financial Efficiency
In today’s economic climate, carefully controlling financial investment is crucial. All too often, a lack of in-depth analysis of the retail estate results in the over-production of in-store equipment, or the supply of inappropriate equipment in to stores. Both are an unnecessary financial cost to retailers. By conducting a detailed retail audit and compiling an accurate database of store-specific information, retailers can ensure that equipment is always supplied to stores in the correct quantities, and is fit-for-purpose.

Asset Management
There is a growing need for retailers to keep track of their valuable in-store assets.  Tracking and retaining control over fixtures and fittings in-store is a continual challenge for head office when trying to plan in-store activity. Store teams will often move equipment around themselves, with the result that even similarly graded stores may sometimes not have the same fixtures within a specific category.

Improving Compliance
The issue of compliance is a complex one, and the reason why more and more retailers are turning to retail audit specialists to identify failings in-store and ensure that return on investment is being maximised.

Whilst in the past, many in-store activation duties (including seasonal aisle and hanging signage changes, as well as fixtures and fittings management and maintenance) would have been carried out by retail teams; the pace of development and growing demands by retailers and shoppers on promotional cycles now makes this an increasingly difficult task.

No matter how much time and effort retailers continue to put into creating policy and standards, the reality is that the focus of retail teams’ often has to be prioritised on customer service and sales.

Audits can identify compliance issues, helping retailers to get the basics right.

Managing the asset control and maintenance of fixtures and fittings ensuring clear display of pricing
Refining existing merchandising solutions to better meet individual store requirements across the retailer estate e.g. accommodating extra shelving during intense retail selling period, for example during the summer and Christmas
Managing seasonal space (power aisle 1 and seasonal aisles) and seasonal price changes

To download a copy of our whitepaper click here – Whitepaper request (http://www.cjservices.co.uk/news/retail-audits/)