Definition

Retail audits consist of sending staff to stores to verify that stores are compliant. This can include regulatory compliance such as verifying that products are not on shelves after the expiration date has passed or internal compliance (or planogram compliance) requirements such as verifying retail merchandising, product placement, number of SKUs on shelves, etc. 

How Does It Work?

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Store audits can be performed by retail staff (most likely a store or district manager), brands, or third-party labor hired by retailers or brands. For both retailers and brands, retail audits are a way to hold their staff accountable, but also their partners. Brands and retailers often have agreements to execute certain tasks in the store and performing retail audits is a good way to verify that the other party handles their end of the deal. 

Store audits are critical as low planogram compliance and poor execution are responsible for significant costs in lost sales. To create some operational efficiencies, retail audits can be performed by field or merchandising staff as they are completing a job thanks to complete retail execution software.

Store audits often include quantitative questions that can later be graphed as well as visual verification.

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