Convenience stores make up 33.9% of all retail outlets in the U.S. Here are convenience store trends impacting sales across the industry.
This post details in 10 steps how to conduct a retail audit/inspection for merchandising, service and/or loss-prevention in a store.
Whether you call them « audits », « assessments », « evaluations » or simply « visits », the practice of sending a district manager to a franchisee to uphold standards, answer questions, communicate best practices and coach is widespread. Let's look at six reasons why franchisors should indeed "audit" franchisees plus one reason everyone … Continue reading 6 Reasons Why you Should Audit Franchisees (It’s not What you Think)
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.
Why a retail audit lexicon? Many industries and occupations have their own vocabulary to describe the various facets and nuances of their trade. Retail audits (also called store walks or store inspections) are no exception. Since we could not find a suitable lexicon for retail audit terms, we built one. This lexicon is based on … Continue reading Retail Audit Lexicon
What is an action plan? The action plan is an opportunity to apply corrective actions to problem areas. It designates an individual responsible for rectifying each problem (anything deemed substandard or non-compliant by the district manager during the audit) and a target date for resolution. By doing this, the action plan fosters ownership and accountability … Continue reading The Mighty Action Plan
In-store execution is known to drive sales and cut costs. But for these and other known merits of execution, how do you actually achieve it?
A retail audit (store walk, store inspection) is a checklist used to ensure company standards, programs, and policies are deployed in every location.