{"id":521,"date":"2019-08-27T14:33:04","date_gmt":"2019-08-27T09:03:04","guid":{"rendered":"http:\/\/floorwalk.in\/blog\/?p=521"},"modified":"2024-10-15T07:53:14","modified_gmt":"2024-10-15T07:53:14","slug":"how-many-types-of-retail-audits-are-there","status":"publish","type":"post","link":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/","title":{"rendered":"How Many Types of Retail Audits Are There?"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

The Retail audit is of a company\u2019s efforts to understand its operational performance. It requires the company\u2019s representatives to collect data on the brand\u2019s products in the retail stores. Furthermore, it ensures that retailers are complying with the agreement made about the product placement, pricing, and promotions. In other words, a retail audit helps the company to accurately measure their performance at the retail level.<\/p>\n\n\n\n

Types of Retail Audits<\/strong><\/h2>\n\n\n\n

There are four types of retail audits commonly used by many organizations in the world, including: <\/p>\n\n\n\n

1. Merchandising Audits<\/p>\n\n\n\n

Merchandising audit focuses on the assessment of the overall\noperations of the retail stores that affect financial performance. It evaluates\nthe product assortment, display, pricing, and promotions performed by the\nretailers. Merchandising auditors will assess all of these elements and how\nconsistent they are implemented.<\/p>\n\n\n\n

Merchandising audit is done in-house by store staff or the brand\u2019s representatives. The main goal of this audit is to make sure that the retailers follow their standards and support priority initiatives consistently.<\/p>\n\n\n\n

2. Loss Prevention Audits<\/p>\n\n\n\n

Loss prevention audits focus on assessing how well the\nretailer\u2019s performance in terms of the process, protocol, and training to\nminimize theft, fraud, and shrinkage. This type of audits is designed to\nminimize risk, theft, waste, and vandalism over the company\u2019s products. It puts\nthe company\u2019s polity in the center and makes a transparent process for retail\nstores.<\/p>\n\n\n\n

Many retail experts agree that employees are the best defense. Thus, it may need employee training to optimize loss prevention audits. Through the training, employees can ask questions and have a good understanding that loss prevention is a company priority.<\/p>\n\n\n\n

3. Health and Safety Audits<\/p>\n\n\n\n

Health and safety audits assess how well the store\u2019s performance\nin terms of meeting the company\u2019s regulations and legal guidelines,\nparticularly in handling food products and the employee\u2019s work environment.\nMost importantly, it protects the company from lawsuits, claims, brand\ntarnishing event, and other disruptions that can cost company additional\ncapital to spend on.<\/p>\n\n\n\n

The health and safety audits are not only implemented in the foodservice fields but also other fields, including in the pharmacy. So, pharmacies have to ensure that their medicines and other health products are properly stored, secured and dispensed. The equipment, signage, and barriers need to be monitored to keep the employees and public safety.<\/p>\n\n\n\n

4. Competitive Analysis Audits<\/p>\n\n\n\n

Competitive analysis audits are usually performed by CPG manufacturers to assess competitors\u2019 activities. In conducting the competitive analysis audits, it\u2019s important to consider the data scope that you want to collect before sending company\u2019s representatives into the field.<\/p>\n\n\n\n

Here are some important elements need considering:<\/p>\n\n\n\n

    \n
  • Choose what specific product you want to know more about <\/li>\n\n\n\n
  • Identify what specific information you want to know about your competitor\u2014is it their pricing strategy, special promotions, and offers? <\/li>\n\n\n\n
  • Decide which locations you want to visit. A company\u2019s products are usually delivered in over a thousand locations, choose where to visit. <\/li>\n\n\n\n
  • Discuss your auditing plan to your retail partners\u2014do customers tend to recommend a competitor\u2019s products over yours? <\/li>\n<\/ul>\n\n\n\n

    The four types of retail audits are very fundamental to measure\nyour business performance. Additionally, it makes sure that everything is on\ntrack and follows the company\u2019s standards. Finally, the best retail audits will\ngenerate sales and brand awareness.<\/p>\n","protected":false},"excerpt":{"rendered":"

    The Retail audit is of a company\u2019s efforts to understand its operational performance. It requires the company\u2019s representatives to collect data on the brand\u2019s products in the retail stores. Furthermore, it ensures that retailers are complying with the agreement made about the product placement, pricing, and promotions. In other words, a retail audit helps the […]<\/p>\n","protected":false},"author":1,"featured_media":1077,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,5],"tags":[6,106],"class_list":["post-521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-customer-service-and-mystery-shopping","category-market-research","tag-market-research","tag-retail-audit"],"yoast_head":"\nHow Many Types of Retail Audits Are There? - Mystery Shopping and Market Research Experts!<\/title>\n<meta name=\"description\" content=\"Explore more about mystery shopping |How Many Types of Retail Audits Are There? | FloorWalk\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Many Types of Retail Audits Are There? - Mystery Shopping and Market Research Experts!\" \/>\n<meta property=\"og:description\" content=\"Explore more about mystery shopping |How Many Types of Retail Audits Are There? | FloorWalk\" \/>\n<meta property=\"og:url\" content=\"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/\" \/>\n<meta property=\"og:site_name\" content=\"Mystery Shopping and Market Research Experts!\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-27T09:03:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-15T07:53:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/floorwalk.in\/blog\/wp-content\/uploads\/2019\/08\/types-of-retail-audit-blogs.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"338\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sourabh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sourabh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How Many Types of Retail Audits Are There? - Mystery Shopping and Market Research Experts!","description":"Explore more about mystery shopping |How Many Types of Retail Audits Are There? | FloorWalk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/","og_locale":"en_US","og_type":"article","og_title":"How Many Types of Retail Audits Are There? - Mystery Shopping and Market Research Experts!","og_description":"Explore more about mystery shopping |How Many Types of Retail Audits Are There? | FloorWalk","og_url":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/","og_site_name":"Mystery Shopping and Market Research Experts!","article_published_time":"2019-08-27T09:03:04+00:00","article_modified_time":"2024-10-15T07:53:14+00:00","og_image":[{"width":338,"height":338,"url":"https:\/\/floorwalk.in\/blog\/wp-content\/uploads\/2019\/08\/types-of-retail-audit-blogs.jpg","type":"image\/jpeg"}],"author":"Sourabh","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Sourabh","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/#article","isPartOf":{"@id":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/"},"author":{"name":"Sourabh","@id":"https:\/\/floorwalk.in\/blog\/#\/schema\/person\/79f2ca60110422745bef69c7703abc3e"},"headline":"How Many Types of Retail Audits Are There?","datePublished":"2019-08-27T09:03:04+00:00","dateModified":"2024-10-15T07:53:14+00:00","mainEntityOfPage":{"@id":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/"},"wordCount":559,"publisher":{"@id":"https:\/\/floorwalk.in\/blog\/#organization"},"image":{"@id":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/#primaryimage"},"thumbnailUrl":"https:\/\/floorwalk.in\/blog\/wp-content\/uploads\/2019\/08\/types-of-retail-audit-blogs.jpg","keywords":["Market Research","Retail Audit"],"articleSection":["Customer Service and Mystery Shopping","Market Research"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/","url":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/","name":"How Many Types of Retail Audits Are There? - Mystery Shopping and Market Research Experts!","isPartOf":{"@id":"https:\/\/floorwalk.in\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/#primaryimage"},"image":{"@id":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/#primaryimage"},"thumbnailUrl":"https:\/\/floorwalk.in\/blog\/wp-content\/uploads\/2019\/08\/types-of-retail-audit-blogs.jpg","datePublished":"2019-08-27T09:03:04+00:00","dateModified":"2024-10-15T07:53:14+00:00","description":"Explore more about mystery shopping |How Many Types of Retail Audits Are There? | FloorWalk","breadcrumb":{"@id":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/#primaryimage","url":"https:\/\/floorwalk.in\/blog\/wp-content\/uploads\/2019\/08\/types-of-retail-audit-blogs.jpg","contentUrl":"https:\/\/floorwalk.in\/blog\/wp-content\/uploads\/2019\/08\/types-of-retail-audit-blogs.jpg","width":338,"height":338},{"@type":"BreadcrumbList","@id":"https:\/\/floorwalk.in\/blog\/how-many-types-of-retail-audits-are-there\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/floorwalk.in\/blog\/"},{"@type":"ListItem","position":2,"name":"Market Research","item":"https:\/\/floorwalk.in\/blog\/category\/market-research\/"},{"@type":"ListItem","position":3,"name":"How Many Types of Retail Audits Are There?"}]},{"@type":"WebSite","@id":"https:\/\/floorwalk.in\/blog\/#website","url":"https:\/\/floorwalk.in\/blog\/","name":"Mystery Shopping and Market Research Experts! FloorWalk","description":"Mystery Shopping and Market Research Experts!","publisher":{"@id":"https:\/\/floorwalk.in\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/floorwalk.in\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/floorwalk.in\/blog\/#organization","name":"Mystery Shopping and Market Research Experts!","url":"https:\/\/floorwalk.in\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/floorwalk.in\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/floorwalk.in\/blog\/wp-content\/uploads\/2024\/10\/Logo-copy.png","contentUrl":"https:\/\/floorwalk.in\/blog\/wp-content\/uploads\/2024\/10\/Logo-copy.png","width":523,"height":338,"caption":"Mystery Shopping and Market Research Experts!"},"image":{"@id":"https:\/\/floorwalk.in\/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/floorwalk.in\/blog\/#\/schema\/person\/79f2ca60110422745bef69c7703abc3e","name":"Sourabh","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/floorwalk.in\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/58221ae7028c14f074fcb854f2b58c54cca078076ecec65c1e714dcd2439e05e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/58221ae7028c14f074fcb854f2b58c54cca078076ecec65c1e714dcd2439e05e?s=96&d=mm&r=g","caption":"Sourabh"},"sameAs":["https:\/\/floorwalk.in\/blog"],"url":"https:\/\/floorwalk.in\/blog\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/floorwalk.in\/blog\/wp-json\/wp\/v2\/posts\/521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/floorwalk.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/floorwalk.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/floorwalk.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/floorwalk.in\/blog\/wp-json\/wp\/v2\/comments?post=521"}],"version-history":[{"count":1,"href":"https:\/\/floorwalk.in\/blog\/wp-json\/wp\/v2\/posts\/521\/revisions"}],"predecessor-version":[{"id":1078,"href":"https:\/\/floorwalk.in\/blog\/wp-json\/wp\/v2\/posts\/521\/revisions\/1078"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/floorwalk.in\/blog\/wp-json\/wp\/v2\/media\/1077"}],"wp:attachment":[{"href":"https:\/\/floorwalk.in\/blog\/wp-json\/wp\/v2\/media?parent=521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/floorwalk.in\/blog\/wp-json\/wp\/v2\/categories?post=521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/floorwalk.in\/blog\/wp-json\/wp\/v2\/tags?post=521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}