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In-Sight Audits
These audits are frequently seen in the retail sector as one of the methods used by corporate organisations to pursue success. They conduct routine audits of shops to make sure they adhere to the agreements you have made.
These audits can be divided into two categories: storage audits and festive audits. While festive audits make sure that items in the promotion are priced and displayed correctly in accordance with the company’s procedure, storage audits focus on verifying pricing compliance by retailers.
Key Features In Performing storage Audits
The company’s field agents conduct these audits. A storage audit and a festive audit will both be carried out by the field representative. The following are significant considerations a field agent must make when conducting storage audits:
- Product location
- A field representative verifies if the merchandise is placed in the shop based on their initial agreement.
- merchandise Placement
- The placement of the merchandise in the store is noted by the field agent in order to better understand what marketing tactics should be used to compete with other competitor brands.
- Market-Facing
- Various research has shown that facings can increase sales. To improve revenue, a business can think about purchasing extra facings for its brand.
- Empty spaces
- A field agent inspects the shelf where your products are placed to see whether there are any empty shelves. If there are, check if the shop has refilled the merchandise or if they are out of stock.
- Stock not available
- A field agent should verify that the products are available on the retailer's store shelves. The business should carry such stock verification audits to anticipate out-of-stock products in order to prevent them.
Important Aspects of Performing festive audits
Signposts
To ensure that the majority of customers can notice or be aware of the promotions, the field agent ensures that the company’s in-store advertising is showcased effectively.
Commercials
Through unique advertisements and product displays, make sure buyers are aware of where to find the products that are on discount since this will influence their decision to buy.
Staff Knowledge
Staff must be knowledgeable about the company’s promotions because customers frequently ask specific questions about them.