Retail Audit is a modern tool available for production or distribution companies active in the FMCG, pharmaceutical industry and consumer products, operating through modern retail channels, allowing their managers to receive real-time information about market KPI’s.
In short, retail audit provides customized information gathered from a selected set / sample of points of sale from the market, according to the interests and needs of each organization. Such information may be:
- Stocks of products for sale from a particular brand / SKU / variant
- Prices of own products or competition products
- The number of product facing on the shelf
- Existing promotions at that outlet for own or competing products
- Actual traffic in that location
- Other relevant information gathered in the field
Market data collection services, that fit into the market intelligence concept, are very important in developing marketing and sales strategies for manufacturers and distributors of FMCG, pharmaceuticals and other products, that are present in different retail channels.
It starts by defining the objectives of each retail audit mission. The objectives might be the assessment of quantitative and qualitative indicators regarding the market positioning of a brand. These requirements are transposed into working instructions for the team that collects data in the field. The next step is to implement in the Talender IT platform operated by IDTotal of the specific questionnaires for data collection in the field. This platform allows real-time gathering of market information as well as effective communication with agent teams in order to comply with a consistent work schedule. The team of agents is coordinated by an IDTotal Project Manager, who constantly communicates with the client team in order to coordinate the audit mission and achieve the engagement objectives. The customer will have access via a customized account in the IT platform for immediate feedback.
Retail audit services can be provided on demand, either on a project basis or following an agreed frequency (monthly / quarterly / etc), according to the business needs of each customer.
Depending on the complexity of the project, ie the number of locations in the sample considered, the number of questions in the data gathering questionnaire, how many rehearsals exist, a timetable for the transmission of the final results will be agreed. Modern technology used by IDTotal makes it possible to provide interim data collected from the field to the client in real time so that customers can have a direct picture of market conditions and can make quick decisions to increase their competitiveness. If additional data processing is required (such as more complex investigations – such as brand analysis, promotions, qualitative analyzes, etc.), the final reports will be transmitted by the project management team after processing Field data.
The cost of retail audit services is determined according to the project requirements, considering the number of locations, the number of information vectors and the frequency of collection in the field. The rate is based on delivered results so you do not have to worry about travel expenses, daily allowances, overtime and the like, specific to the staff employed. For a customized offer, please provide us with the relevant project information and we will come back to you within 24 hours with the implementation proposal and budget.