Our Services
Auditing
A strategy is never complete without an audit, and that’s where retail audit comes into play. A retail audit helps you understand the position of your business in terms of your inventory, serving as proof for you to determine how strong or weak your retail marketing strategy is.
The retail space is fast-paced and ever-evolving. Trends and business strategies keep evolving, sometimes as fast as the blink of an eye. This is the very reason why the abundant information we end up gathering from these experiences need to be tracked, recorded and analysed.
Here’s why auditing should be your business’ top priority:
- All information about the retail consumer pattern is captured, which can be used for formulating strategies.
- Contributes profit and revenue and lowers inefficiency and incompetence.
- Strict guidelines and SOPs help achieve discipline in the organization.
- The audit report gives you a fair idea of your business and your competition.
Retail auditing can further be divided into 3 different types. The first type is merchandising audit, which analyses the brand performance related to inventory, stocks, product condition and so on. Then, there is promotional audit, which is a thorough study of any and every promotional activity that’s been done in the store, and lastly, retail marketing audit that focuses on accumulating and understanding consumer insights such as their taste, preference, sentiments and so on.
Good data and insights add so much more meaning to your business, and that is exactly why we at IMC intend to make your lives easier with our auditing services.
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