What are the criteria for a successful merchandising audit?

1 Define your objectives

Before you start your merchandising audit, you need to have a clear idea of what you want to achieve. What are the goals and KPIs of your merchandising plan? How do you measure your performance against them? What are the best practices and standards that you want to follow? Having a well-defined set of objectives will help you focus your audit on the most relevant and important aspects of your merchandising.

2 Choose your audit method

There are different ways to conduct a merchandising audit, depending on your resources, budget, and preferences. You can use a paper-based checklist, a mobile app, a web-based platform, or a combination of these. The main advantages of using digital tools are that they can streamline the data collection, analysis, and reporting process, as well as provide real-time feedback and insights. However, you should also consider the ease of use, the reliability, and the security of the audit method you choose.

3 Select your audit locations

Another crucial decision is which stores or locations you want to audit. You may not be able to audit all your retail outlets, so you need to select a representative sample that reflects your target market, your distribution channels, and your geographic regions. You should also consider the frequency and timing of your audits, as well as the seasonal and promotional variations that may affect your merchandising.

4 Train your auditors

Who will perform the merchandising audit? You can either hire external auditors, use your own staff, or involve your retail partners. Each option has its pros and cons, so you need to weigh them carefully. Regardless of who you choose, you need to make sure that they are well-trained and qualified to conduct the audit. You should provide them with clear instructions, guidelines, and criteria for evaluating your merchandising. You should also monitor and validate their work to ensure consistency and accuracy.

5 Analyze your results

Once you have collected the data from your merchandising audit, you need to analyze it and draw meaningful conclusions. You should compare your results with your objectives, benchmarks, and competitors. You should also identify the gaps, issues, and trends that affect your merchandising performance. You should use visual tools, such as charts, graphs, and photos, to illustrate your findings and make them easier to understand.

6 Implement your actions

The final step of a successful merchandising audit is to implement the actions that you have derived from your analysis. You should prioritize the most urgent and impactful actions that can improve your merchandising efficiency and effectiveness. You should also communicate your actions to your stakeholders, such as your staff, your retail partners, and your customers. You should track and measure the results of your actions and adjust them as needed.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?