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 are no exception. Since we could not find a suitable lexicon for retail audit terms, we built one. This lexicon is based on our interactions with retailers in North America, … 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
The social media landscape is a powerful enabler for personal and professional advancement. It is however heavily fragmented. There are many networks and platforms to choose from. There is also a fair bit of “noise” in online communities: over-the-top self-promotion, irrelevant content and spam. Where can a retail professional network with peers and find relevant, … Continue reading Connecting Retail Operations Professionals
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
We are often asked what should go on a retail audit checklist. Sometimes this question comes from a retailer starting their retail audit program from scratch. Other times, it comes from a retailer with an existing program, looking to curate or improve their current checklist or automate the process. Regardless of the circumstances, we have … Continue reading How to Build a Retail Audit Checklist
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?
I have a bone to pick with some of my favorite QSR brands. It’s not the menu. It’s not the service. It’s not the seating, the parking lot nor the drive-thru. Quick service restaurants have obviously poured money, systems and processes in key areas and it shows. But when nature calls, or when I want … Continue reading Great Sandwich. Lousy Washrooms.
According to a survey conducted by the In-Store Implementation Network, when asked "How do you measure performance of in-store merchandising?", 28% 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 … Continue reading Retail Audit Misconceptions