Consumer Electronics – the art of interacting with your customers
At CJ Retail Solutions, we believe that understanding what is happening within your store estate has never been more important. We have identified areas where we believe retail audits can improve in-store performance:
In today’s economic climate, carefully controlling financial investment is crucial. All too often, a lack of in-depth analysis of the retail estate results in the over-production of in-store equipment, or the supply of inappropriate equipment in to stores. Both are an unnecessary financial cost to retailers. By conducting a detailed retail audit and compiling an accurate database of store-specific information, retailers can ensure that equipment is always supplied to stores in the correct quantities, and is fit-for-purpose.
There is a growing need for retailers to keep track of their valuable in-store assets. Tracking and retaining control over fixtures and fittings in-store is a continual challenge for head office when trying to plan in-store activity. Store teams will often move equipment around themselves, with the result that even similarly graded stores may sometimes not have the same fixtures within a specific category.
Whilst in the past, many in-store activation duties (including seasonal aisle and hanging signage changes, as well as fixtures and fittings management and maintenance) would have been carried out by retail teams; the pace of development and growing demands by retailers and shoppers on promotional cycles now makes this an increasingly difficult task. No matter how much time and effort retailers continue to put into creating policy and standards, the reality is that the focus of retail teams’ often has to be prioritised on customer service and sales.
Retail Audits also provide an opportunity to respond to what is happening within a channel or category. Resulting insight can often reduce out-of-stocks and identify new shelf fixture and SKU opportunities in-store.