Retail store audits can be extremely valuable market research tools for understanding the sales environment for products in brick-and-mortar sales environments. Understanding patterns of customer service, product placement within store footprints, standards for stocking procedures, and competitive product analysis. This can help better understand several layers of the merchandising / retail process.
- Improving your sales strategy – Where your product sits within the store? End caps? Upper shelves?
- Understanding the sales environment itself – Is this store the right place for the product?
- Competitive landscape – Where are competing products placed in the store? How do prices compare?
One of the biggest challenges with gaining real insight into the natural state of the retail space is having the right tools to collect the right info, quickly and easily, and with minimal disruption to staff or customers within a store. Fulcrum is being used today to perform various types of store audits worldwide — for competitive pricing analysis, monitoring of standards and practices, product launch analysis, and store inventories.
Check out our Store Audit App for an example of what this looks like in action:
If you conduct marketing surveys or retail audits, grab a free trial account to try out Fulcrum today.