Conducting end-to-end retail store audits should be the top priority of every retailer and for multiple reasons – retail audits help you uphold brand standards, manage inventory, manage operations, and promote a safe in-store experience.
But what types of store audits should one perform, and how often should one do them? And most importantly, how can one achieve such audits correctly?
In this article, we will write in-detail information that will answer all these questions. We’ll also share our views on the best retail store audit practices.
Let’s get started!
What is a Retail Audit?
Retail store audits are performed by third-party patterns, retail store owners, and brands to get store-related data, streamline store operations, manage facilities & inventory, comply with brand guidelines, and more.
A retail store audit enables organizations to check numerous things concerning their retail strategy. Such audits give pivotal information on sales volumes, competitor activity, in-store display arrangements, inventory levels, and complete store information.
The Importance of Retail Audits
Retail stores are one of many businesses’ most important revenue sources and one of the most critical areas of a company to protect from fraud and theft. That’s why doing a regular retail store audit is so important. Here are some of the reasons why one should conduct a retail audit.
- Gather in-detail information about the store with parameters like store name, location, and more.
- Report on inventory availability, brand sales and visibility, and more.
- Report on retail stores that are following brand promotion and display guidelines.
- Customer feedback.
- Monitor retail information.
What is the Difference Between a Retail Store Audit and a Visual Merchandising Audit?
A retail store audit is a comprehensive inspection of a retail store’s physical condition and operations. A visual merchandising audit is an inspection of the design, layout, and presentation of merchandise in a retail store.
A retail store audit should include assessing all aspects of the store’s operations, including inventory, sales techniques, pricing, and product assortment. A visual merchandising audit may also focus on specific areas such as merchandise displays, merchandise placements on the sales floor, and the color selection of merchandise.
Tips to Effectively Perform Retail Store Audits
Retail store audits are an essential part of any business’s compliance program. They can help identify potential violations and ensure that your business is operating ethically and legally. Here are some tips to help you perform an effective audit:
1. Make sure you have the right tools
A good audit will require a thorough inspection of the store, and you’ll need the appropriate equipment. It includes a digital camera, measuring tape, a calculator, a copy of the store’s policies, and an essential retail audit software to record all these observations.
These easy-to-use mobile apps will help you in performing numerous mobile retail audit-related activities such as:
- Perform retail store audits and surveys.
- Easily log information like store details, product availability & positioning, pricing details, inventory information, and more.
- Establish Standard Operating Procedures ( SOPs) for the brand to comply with brand guidelines and more.
2. Plan your Visit Carefully
It’s important to give yourself enough time to inspect the entire store. Try not to rush through your visit; instead, take your time walking around and looking at everything. You’ll be able to identify any problems much faster this way.
3. Talk to the Employees
During your audit, you must talk to as many employees as possible. It will help you understand how the store is operated and whether any violations of company policy or law are occurring. Be sure to ask about specific issues
4. Use Checklists to Ensure Compliances
Retail compliance audits can make a safer work environment, avoiding accidents, health issues, and fatalities.
Some Commonly Used Retail Store Audit Checklists
Here are some retail store audit checklists organizations can use to conduct retail audits of their store employees. Axonator can help you convert all these checklists into mobile apps to help you comply with brand guidelines, establish SOPs, implement safety, and achieve operational excellence.
Retail Store Operations Checklists
Retail store operations checklists are a tool for auditing your retail store operations to ensure that you are meeting or exceeding all required standards for safe operation. We have developed this checklist in collaboration with experts from the retail industry so that you can use it as a reference guide when conducting audits at your stores.
Retail Store Daily Checklists
Retail store checklists will help your company perform daily shop checks, store reviews, and brand compliance like product placement, price, sales data, and more. You can also conduct daily safety audits, COVID-19 compliance, etc.
Retail Store Daily Checklists - Opening & Closing
Retail store daily checklists – opening & closing is the most critical checklists you will need to do before opening and closing the store. You can use these checklists to confirm the security of products, cleanliness of the store, facilities management, and more.
Retail Brand Compliance Checklists
Efficiently conduct promotional audits and holiday sale audits. Log in-depth information on promotion types, duration, placement, in-store positions, and sales numbers.
Retail Partner Audit Checklists
Understand your retail partner better. Record information like location, branch name, consumer sentiments, store appearance, exterior façade, internal design, competing brands, and more.
In-store Retail Audit Checklists
Efficiently perform in-store retail audits to ensure that retailers follow pricing, promotion, products, inventory, and placement guidelines.
We at Axonator have developed a retail audit app that ensures the company will be meeting or exceeding all required standards for safe operation. We have created this checklist in collaboration with experts from the retail industry so that you can use it as a reference guide when conducting audits at your stores.
- Get your paper forms/checklists on mobile & tablet
- Access ready-to-use lists & customize them
- Experience the workflow automation
- Generate reports automatically
- Get a graphical dashboard for data visibility
- Integrate with 3rd party or legacy system seamlessly
Covert Your Retail Audit Checklists Into Mobile Apps Within a Week!
Axonator for implementing Retail Audits
Retail organizations across the globe can use Axonator for streamlining the retail audit landscape. Fortune 500 firms have used our no-code platform to meet their auditing needs. Our no-code platform has tons of features to ensure that the platform will meet the end goal of the company.
Axonator has tons of applications. Aside from helping companies in the retail audit, it can streamline other processes like inspections, maintenance, compliance, and more.
Numerous industries and organizations use Axonator to automate field workflows, achieving digital transformation in record time and cost.
- World’s first mobile-focused & Highly customizable no-code architecture to support real-world scenarios.
- Deploy enterprise-grade solutions rapidly as per unique requirements
- Achieve paperless retail audits.
- Generate reports automatically and automated data collection for trends and analytics
- Streamline processes and implement a fully automated system within weeks using Axonator’s MicroApp strategy.
Available on Android, iOS, and the web, Axonator is a highly customizable no-code field workflow automation platform mainly used to transform your paper and spreadsheet-based manual processes and maintain them across the retail business.