Page 110 - DMGT553_RETAIL_STORE_MANAGEMENT

Pavitar Parkash Singh, Lovely Professional University Unit 7: Store Audit

Unit 7: Store Audit Notes

CONTENTS
Objectives
Introduction

7.1 Concept of Store Audit
7.1.1 Retail Audit
7.2 Store Appearance
7.2.1 Seven Things Your Store’s Appearance Tells Your Customers
7.3 Presentation

7.4 Stock
7.5 Cleanliness
7.6 Store Audits: Benefits
7.6.1 By Request of the Managers
7.6.2 Improved Performance and Accountability

7.7 Summary
7.8 Keywords
7.9 Review Questions
7.10 Further Readings

Objectives

After studying this unit, you should be able to:
Define store appearance
Discuss presentation
Describe stock

Analyze concept of cleanliness.

Introduction

Retail audit involves the study of a selected sample of retail outlets, provided as subscription-
based service by market research firms. Retail-audit service providers gather information on a
brand’s sales volume, sales trends, stock levels, effectiveness of in-store display and promotion
efforts, and other associated aspects.

In this unit, we will discuss store appearance and presentation. We will also focus on stock,
cleanliness.

7.1 Concept of Store Audit

Many retail store audit functions, challenged by resource and budget limitations, multiple
business locations, and regulatory reforms, are turning to technology to manage the often vast

LOVELY PROFESSIONAL UNIVERSITY 105