One of the most profitable investments which the marketing company of a CPG company can make is in the field of its merchandising team. Such teams play a role in putting hands on retail products and ensuring that the product is positioned in such a way that it seems appealing to the consumer. A retail merchandiser’s primary function is to perform POS merchandising audits within a store, both Trade Compliance Audits or Checks and standard Retail audits. Retail audits within a store are done to make sure that the intended products are displayed in the best way on the shelf so that the customers can find out the product whenever they wish to. On the other hand, compliance audits are done during special promotions of a product and here the manufacturer negotiates with the retailer periodically.
Point of Sale (POS) merchandising audits
Do you want your consumers to locate your products effortlessly as soon as they enter your stores? If answered yes, this is the main purpose of point of sale merchandising audits which is done to manipulate retail shelves and displays to attract customers by luring their attention. Here are some marketing strategies to make the most out of your in-store audits.
- Merchandisers should visit regularly: Merchandisers need to visit your stores almost on a regular basis so that they can be sure whether or not the intended product is positioned in the best possible way to maximize sales. If there’s any deficiency that is found, it should be immediately notified to the store manager so that the store personnel become aware of it and can rectify when the merchandiser isn’t there.
- Data collection should maintain consistency: When the merchandisers visit retail stores regularly, the data they collect from all their visits should be consistent over time. If they’re keen on detecting trends which speak on some issues through the retail supply chain, the data should be collected in an easy way. For instance, if the audit questions are changed constantly, this would become tough to create reports which recognize issues based on some specific trends.
- Reporting on the stock level: You must be aware of the fact that there are several stock types in a retail store. The on-shelf stock is always full; the near-shelf stock is the stock which is kept near the shelf, often for quick shelf replenishment and the final stock location is the back-room stock. A perfect audit will definitely check all such stock locations to ensure identifying issues which may lead to out-of-stock. Always keep an eye on the availability of your products.
- Activity reports on competitors: Retail merchandisers are considered as the eyes and ears of CPG companies. These foot soldiers can also offer you some vital reports on your competitor activities like how they’re pricing their products, what kind of promotions they’re doing and where exactly they’re getting success in the market. Use merchandisers who report about competitor activities.
With all the above points in mind, you can be sure about maximizing the benefits of merchandising audits and helping your business reach the zenith of success.