Beauty and wellness industry is booming now-a-days, owing to rapidly changing lifestyle, global trends and rising disposable income. This industry comprises of Salons, Spas, Gyms, Slimming Centers and with growing number of Beauty & Wellness Centers at every nook and corner, it has become vital for a brand to offer differentiated services to enhance overall customer journey and ensure customer loyalty. Therefore, Mystery shopping and Audit plays an important role in assessing the hygiene, adherence of SOPs and overall service experience right from booking an appointment to billing.
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.
Most of the brands strive to achieve a two-tier objective of higher growth and market share. One of the inputs to achieve either or both of these is by increasing the penetration in the market which is largely possible today by increasing the number of channels through which a brand sell. In a view to increase selling channels, multi-brand retail has become the order of the market and competition traction, hence predominantly defines the growth & market share for a brand.
With increasing disposable income and exposure to global tastes & trends, consumers have started spending on the bathroom space. As a result, Sanitaryware industry has experienced a lot of retail traction over the last decade with brands increasing their penetration by opening more stores and resorting to more selling channels. However, in that process, a brand tends to dilute its control on retail SOP’s and hence face business concerns.
With over 50% population below the age of 25 years, India is a promising opportunity in the education space and has seen a lot traction over the past decade. The education sector has been increasingly becoming organized with a lot of edu-brands expanding their footprint to lower tier cities. International education brands are also increasingly entering India market with 100% FDI (automatic route) allowance in the sector. However, in the process of expanding penetration, an educational brand tends to have lesser visibility on operational philosophy of running a sensitive business model like education. The operational concerns range from basic hygiene issues to grave security flaws.