Best 3 Type of Retail Report | Retail Reporting Case Study | QR Solutions

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BEST 3 TYPE OF RETAIL REPORT RETAIL REPORTING
CASE STUDY
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Retail report are similar to retail surveys but
can be conducted more frequently and target one
specific aspect of your presence in the
store Having a powerful retail existence is all
about making your product attractive and
available to shoppers, in order to capture
sales. 50 of consumers say they would shift to a
different brand if they experience a
merchandising mishap such as out-of-stock or
incorrect labeling, This is why continuously
following your brands performance on the shelf
through in-store visits is a key to an effective
retail strategy. In this article, we discuss
three types of retail reports Merchandising
field reports Promotion field reports Competitor
reports that you can refer to purify your retail
strategy and improve your performance in the
Industry. accurately monitoring your performance
is essential for you to make the most out of your
representative store visits by repeatedly
acquiring and analyzing the data they accumulate
in the field. The best way to go about this is
to build quality reports that help you stay
organized and on target.
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MERCHANDISING FIELD REPORT
For brands making a remarkable amount of their
sales in-store, merchandising reports are highly
insightful. Merchandising reports come up with
details regarding the conditions of their
products on the shelf. Maybe one of their most
valuable functions is that they help your
merchandisers consistently track inventory and
avoid the dreaded out-of-stock since when your
product goes missing from the rack, your brand
takes a big hit. As the selling market becomes
competitive, the ability to optimize on business
processes while satisfying customer expectations
has never been more important. Therefore,
managing and channelizing data to work towards
customer delight as well as generate healthy
profits is crucial to surviving prosperously. In
the case of big retail players globally as well
as in India, data or rather big data analytics is
now being applied at every stage of the retail
process follow up make an appearance in popular
products, predicting sales, and future demand
through predictive simulation, optimizing product
placements and offers via customer heat-mapping
and many more.
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PROMOTION FIELD REPORTS
Advertising events can help provide brands with a
huge boost on engagement with new potential
customers, but theres no doubt theyre expensive
on staffing and execution. Evaluate (and
maximizing!) ROI depends on getting clear data
about when and where your team executes events in
the field, and how effective these events are
Propaganda Type Is it a sampling, demo, trade
show, ? Event What was the occasion? Was it a
holiday? Span What was the span and timing of
the promo? Products What was being sampled? How
many units of it? Locate Where were you
physically locate within the store or at the
event? Number of workers How many workers
staffed this event? Was this an appropriate
number? Congestion What was the foot congestion
like during this event? Units What was your start
ing point ending point inventory? Were any units
sold due to this boosting? Photos Adding
photos of the event helps managers visualize the
event more
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COMPETITOR REPORTS
Brands that invest in field sales teams get an
inside look at competitors performance whenever
reps are out in the field. Innovative brands use
their field teams to report on competitors price
points, shelf positions, market shares, and
more. Here are some examples of what you should
ask reps to look for when conducting a
competitor report Identifying Challengers Who a
re your biggest challenges in this location? Which
items are they successful with? Competitor Price
How does your competitors pricing differ from y
ours? Differences in sales between brands could
be a result of calculated Competitor Promotion
Do they have running promotions or
events? Competitor Image This documentation will
show merchandising efforts and packaging design
by competitors. New Competitor Warning Do you ha
ve a new neighbor on the shelf, or have any existi
ng competitors scored more shelf space or
launched a new
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SUMMARY
To summarise Retail reporting is an important
part of growth plans for any retail company.
Collecting these insights provides an
opportunity to act in market changes whether its
something store-specific or industry-wide.
Encouraging representatives to conduct at least
one of these three retail reports during any
store visit undoubtedly provides you with more
information to go after your competition and make
inform the decisions in the field. A constant
flow of valuable information can make everyones
life a lot easier when conducting a formal
periodic reviews.
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