Why Universe Census is important for Retail Audit?

Universe census maps and tracks the total number of outlets of a particular type/industry in a particular area. When talking about a country Universe, we mean the number of all outlets in the country unless otherwise mentioned (e.g. urban population or a specific type of outlets). SMRC estimates Universe based on the special census study and classifies them based on the store type, location, floor size, number of major categories, facilities, goods and services sold, etc. Then, a statistician decides the percentage of market share based on the Total Sales Volume and Average sales per store to derive a selection of stores from A, B, C & D classifications to make the sampling structure. The market size enables a firm to measure its distribution, sales, and marketing strategies. For organized trade, most of these details are readily available from secondary sources including retailer websites. For the traditional trade, our trained field personnel armed with area maps and questionnaires, go street by street collecting the relevant information by observation, and by interviewing the store owners/employees. SMRC employs a reliable, hassle-free process in which stores are mapped with GPS coordinates, name, full address, product handling, signage, and relevant contact person details.

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