{"id":5704,"date":"2021-04-22T10:17:09","date_gmt":"2021-04-22T09:17:09","guid":{"rendered":"https:\/\/colateral.io\/en\/?p=5704"},"modified":"2023-07-28T17:05:17","modified_gmt":"2023-07-28T16:05:17","slug":"conducting-retail-store-audits","status":"publish","type":"post","link":"https:\/\/colateral.io\/en\/blog\/conducting-retail-store-audits\/","title":{"rendered":"Conducting Retail Store Audits"},"content":{"rendered":"

The Importance of the Store Audit<\/strong><\/h2>\n

Knowing what is in your stores, from fixtures and fittings to the condition of store furniture and everything in between, can help you to make business-critical decisions, maximise your in-store sales and save resources. How do you get there? A retail store audit.<\/strong><\/p>\n

For many retailers, store data is held on various spreadsheets, is often out of date and is not perceived to be accurate or reliable, particularly if the aim is to use it to allocate precise quantities of marketing materials to stores.<\/p>\n

But knowing the details of your store estate goes much further than material allocations. You might need to know what signage is currently being used in the store and whether it\u2019s compliant with the latest regulations. You might need to know which stores you should prioritise for a refit. Operations may want to know if there are enough sockets for your new till points or if they can install new doors. Your marketing department may need to know whether there is enough room on the high street for an A-frame. The list goes on and on.\u00a0<\/strong><\/p>\n

Store data is only valuable when it\u2019s kept fresh<\/strong><\/h2>\n

In order to be able to utilise your store information, it needs to be kept up-to-date. Knowing precise quantities of fixtures and fittings in store can save money on campaign materials, understanding which stores have a competitor nearby can help you to better target marketing to drive customers through your doors, and being able to see where improvements need to be made is key to great in-store experiences. But none of this is possible if your data doesn’t represent reality.<\/p>\n

A common solution to understanding exactly what is in each store is to carry out store audits. You can conduct store audits using third parties, or your store staff can complete them in-house with the right software.<\/p>\n

Audits are perfect for collecting both quantitative and qualitative data, you can ask how many tills, poster points or changing rooms there are, but you can also collect information about what’s in each store’s immediate vicinity, what the high street looks like, whether there is a clear view of every window and whether shopfronts are being used in a way that maximises their impact.<\/p>\n

Types of retail store audits<\/strong><\/h2>\n

You can conduct retail store audits in three main ways.:<\/p>\n