Store Surveys 101: Part 3
Our last blog article helped provide you with important tips and info to prepare you for your store survey. Read on for five reasons store surveys are a win for retailers with 100 or more stores. In addition to increasing your ROI, store surveys have a variety of worthwhile benefits.
Surveying your stores provides you with reliable insight about every location. Though you may think you know what’s going on in your stores, Corporate and store managers view things differently and may even rely on different methods. A survey allows you to compile a detailed repository of site-specific information that becomes your company’s single source of knowledge giving you the insight needed to know your stores from top to bottom.
The store survey yields an accurate set of site data, such as measurements and photos to maximize operational effectiveness and eliminate overspend. The site intelligence platform provides a single source of truth or centralized location to store the survey data with a complete view inside every store and accurate, system-generated reports – an effective replacement to Excel spreadsheets and clogged inboxes. A mobile app allows easy on-the-go access, as well as a faster and more efficient way to conduct store walks and to update site profiles so store data is always accurate.
Store surveyors will help you better understand inventory capacity and fixture counts in every store. You’ll know exactly what’s under warranty vs. what needs to be updated. Keeping track of your stores’ air conditioning, sinks and toilets, registers and more can be complex, stressful and time-consuming. With store surveys, you can easily track warranties, equipment age and maintenance records for all your stores. Know when your inventory is ready to retire before it’s too late by managing warranty details via one safe, secure and shareable platform. Quickly find items that have been recalled for safety or warranty issues.
Survey professionals can uncover valuable insights that put you in control of compliance challenges. Surveyors will help you identify specific compliance risks and inconsistencies across locations, improve customer experiences using technology and objective data, determine which processes contribute to noncompliance and reengineer them to promote compliance as well as measure, document, and mitigate risks to customer and employee safety.
Gathering accurate data through store surveys helps to reallocate inventory enabling you to stock the right products for the right customer at the right time. The result? Increased full-priced sales across your chain, better efficiency and an improved customer experience. Surveyors will identify overstocked and understocked products, callout opportunities to shift inventory among locations, rebalance existing inventory to avoid over ordering, and help you rethink visual merchandising practices.
Curious about pricing and timing? Check back next week for Part IV of our Store Surveys 101 log series. Wondering if you qualify for a free trial? Contact our survey team today.