Retail Audit or Trade Retail Audit it’s a research that is carried out regularly on purpose to gather and analyze trade retail data. In particular, it’s a gathering of stock, brands, packing, sales promotion data in retail outlets for a product category under audit. This audit is accomplished to analyze existing distribution and to create strategies to improve and increase sales.
Trade Retail Audit is carried out by several stages:
- Preparatory stage (defining goals and objectives, choice of trade points, routes, standards, requirements …)
- Main stage (work at trade points according to the plan and tasks)
- Final stage (data processing and analysis, summary, reports)
Retail audit allows to:
- Evaluate % your products and your competitors;
- Monitor competitors’ price strategy;
- Learn about consumers’ preferential goods;
- Define and evaluate factors that affect sales (offers, seasonality, merchandising);
- Determine the most popular goods;
- Define the most effective sales channels;
- Estimate efficiency of your offers or promotional campaign;
- Optimize product portfolio;
- And much more.
Retail Audit reports
Reports content depends on research objectives. For this reason, you should spend enough time and pay attention to the preparatory stage. Because it will considerably simplify further work and data analysis.
WiseRep CRM allows to automize every Retail Audit stage and save obtained data safely.
Customizable and adaptive reports allow our clients to set any criteria for data gathering and metric building. WiseRep cloud permits to save big databases and use them when it’s necessary .
We are looking forward to tell you about all the possibilities of our CRM system for your company.
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