Conducting regular audits at brand retail stores is essential for any business competing in the retail arena. Reporting on retail tactics that have been implemented at various locations provides management with a clearer sense of what is working well and what isn’t.
The audits for Electronics Industry should include the following elements: in-store and shelf location of the product, available stock, price as marked, number of facings, adjacent products, promotional execution, presentation of marketing materials and sales representative check.
Channelplay conducts Mystery Shopping & Retail Audits for top brands in Electronics Industry to provide meaningful information to brands and help them make relevant improvements. Following are the types of solutions provided by Channelplay to tackle the issues faced by the brands:
1. Retail Hygiene Audits - The hygiene standards of a store plays an important role in speeding the process of customer decision making. The exterior and interior hygiene standards of an exclusive store helps the customer to form a long lasting impression of the brand. The following are evaluated in a retail hygiene audit:
- Signage- Visibility & condition
- Product Arrangement- Visibility, Lighting, Stacking
- Visual Merchandising- Availability & condition of wall brandings & POSMs
- Demo Products- Availability & condition
2. Share of Visibility Audits - Visibility is a combination of many things. Starting from the frontage of the store, to the store location on a road, to measuring comparative availability and even impact of various visibility elements vis-a-vis competition. The following are evaluated in a Share of Visibility Audit for both own brand & competition brands as well:
- Availability & placement of branding elements (Exterior & Interior)
- Share of visibility with respect to product display
- Share of Visibility with respect to counters/facings of the brand
3. Price Check Audit - Checking Price across the retail chain is important in Electronics as any discrepancy might lead to reduced customer trust in the brand. Price Check by way of Mystery Audits helps in evaluating the following:
- Identifying SRP (Suggested Retail price)/ MOP(Market Operating Price)
- Evaluating Discounting Patterns
- Evaluating Schemes & Offers for Competitors & Own brand
4. Sales Representative Audit - Mystery shopping is a great way to measure whether the staff is attending the customers proactively versus customers having to call out for assistance. In Electronics Industry the recommendation of Sales staff also impacts the decision making of the customers. The following are evaluated in a Mystery audit designed to check the Sales Representative:
- Product Knowledge (Technical Knowledge) of the products
- Brand Recommendation
- Grooming & Personal Hygiene
- Communication Skills
- Proactiveness in assisting the customers
Channelplay works with leading Electronics brands to conduct various audits and present detailed outcomes based on the above stated parameters to bring elementary changes and improve consumer experience.