Retail audits, also called Store Visits or Store Inspections, drive higher compliance with brand standards at store level. They increase sales and profit margins, boost customer satisfaction and cut business risks. So what should you in your retail audit checklist? What you include in your retail audit checklist depends on the program you want to … Continue reading How to Build a Retail Audit Checklist
This guide to retail audits is to help you create or update your operations, merchandising, loss prevention, and/or health and safety programs.
While your success as a district manager largely depends on your skills and knowledge, the tools that you’re using can significantly affect how well you do your job. That’s why it’s vital that you utilize solutions (i.e., apps, platforms, services, etc.) that keep you informed, boost your productivity, and make your job easier overall. Need … Continue reading 6 Essential Tools Every District Manager Should Use
Loss prevention is a set of policies and procedures designed to minimize theft, fraud, vandalism and waste. Use this sample Loss Prevention Checklist for Parking Operators to create or update your loss prevention program across your parking lots and sites. General Record date of the last LP Audit Location has a key control log for … Continue reading Loss Prevention Checklist for Parking Operators
The holidays are just a few short weeks away and we know that you and your staff are working hard on sales, promotions, and other seasonal programs. Before rolling out your initiatives, ask yourself: are you working just as hard to minimize loss in your business? While the holidays bring in more customers and sales, … Continue reading 4 Loss Prevention Tips to Help You Keep All Your Holiday Profits
Most customers come to a retail audit vendor like Compliant IA with an existing retail audit “system” developed in house. It usually involves Excel™, email, more follow-up emails and phone calls and a large investment in human sweat equity for compiling and summarizing the data. Anyone who has ever experienced the pain of collecting, distributing … Continue reading Excel and Email vs. Specialized Software
Implementing a retail audit process is neither time-consuming nor difficult. It is perhaps one of the easiest things an operations/sales team can do to boost in-store execution, customer satisfaction and sales. Here is how you can implement a retail audit process in five steps: Step 1: Ask yourself: do you need retail audit software? Asking … Continue reading 5 Steps to Implement a Retail Audit Process
We often hear that retail is all about execution. This post defines store execution and details why it matters in retail.
At the heart of any successful retail audit program lies a well thought-out, field-tested form. A form is a collection of operating standards and best practices. What goes on the form is a reflection of what matters to the brand at a given point in time (strategic initiatives, seasonal programs, etc…), what it is required … Continue reading Retail Audit Calibration – Purpose and Best Practices
Structured form data and the district manager's own experience and personal touch (aka heuristics) are sometimes presented as alternative methodologies for the purpose of retail audits. Structured data consists of largely yes/no answers to mostly static questions on a form. When a district manager fill-out a form that rates the store against the brand's standards and … Continue reading People vs. Forms – Retail Performance Requires Both
A retail audit (store walk, store inspection) is a checklist used to ensure company standards, programs, and policies are deployed in every location.
On this blog, we often argue that retail audits drive sales, increase customer satisfaction and mitigate risks in multi-unit retail. But how exactly will retail audits benefit you? Here are some of the benefits you might expect from retail audits, grouped by role. Head Office Lower total cost of ownership than Excel™ and paper-based visits. … Continue reading Who Benefits from Retail Audits?
Did you know there are highly efficient, largely automated systems for conducting retail audits today? Some organizations devise their own system, one or more "checklists", usually in Excel. Is it cost-effective? Let us compare how much retail audits cost, with and without retail audit software. Excel and Paper Audits Audit Preparation Audit preparation consists of scheduling the … Continue reading How Much do Retail Audits Cost?
Asking a retail audit software vendor whether you need retail audit software may be like asking a shoe salesman whether you really need shoes. And yet the answer may surprise you. If your retail chain is small, primarily corporate-owned and you don't serve or prepare food, you may not need the software at all. The economics of … Continue reading Do You Need Retail Audit Software?
A retail audit system helps multi-unit retailers achieve store-level compliance with operational, service and merchandising standards. How can retail audits help Quick Service Restaurants (QSRs) and why do QSRs need retail audits? Here are 10 years why QSRs industry needs retail audits. 1. Health and safety When preparing and serving food, compliance with standards and … Continue reading Why do Quick Service Restaurants Need Retail Audits?
A survey by In-Store Implementation Network asked "How do you measure performance of in-store merchandising?" Twenty-eight percent of respondents "make assumption that the job got done" and 23% "do not measure in-store execution" at all. And yet, the same research estimates that non-compliance costs the industry 1% of sales annually. While most retailers know of the … Continue reading Retail Audit Misconceptions