Store Visit Assesment Tool

Store Visit Assesment Tool

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Price: $45.00

The Store Visit Assessment Tool identifies areas where store trading performance could potentially be improved by making appropriate IT investments which impact store trading.

Product: VSV01

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Store Visit Assessment Tool

The Store Visit Assessment Tool is a complementary product to the Retail Solution Selling e-learning suite and the Target Account Analysis module in particular and is available as a free tool in the Retail and Consumer Goods WIKI and EPSS.

The tool consists of an Excel based checklist of questions to review in a store visit, followed by an automated analysis of the answers to the questions. The analysis identifies areas where store trading performance could potentially be improved by making appropriate IT investments which impact store trading.

The questions are formulated to require modest retail knowledge on the part of the person conducting the visit and the interpretation of the answers is based on many people years of Martec retail and consulting experience. Most questions require yes/no answers but some require grading 1 to 4.

Store visits can be conducted on one to a few stores from the target account and one or two key competitor stores. The comparison between the target account results and the competitor store results enhances the insight available from the tool.

Sections of the questionnaire which are not relevant to a particular store or chain can be skipped.

 

Who Is It Suitable For?

The tool is suitable for account managers and pre-sales support analysts who conduct store visits. The analysis can be shared with prospective customers for validation and identification of real opportunities.

 

More Details of the Tool

The tool includes questions which address the following aspects of store operations:

  • The approach to the store, exterior areas, doorways, windows and external signage (9 questions)
  • The store interior (40 questions)
  • In-store advertising and promotions (18 questions)
  • Driving sales (19 questions)
  • Customer service and store personnel (25 questions)
  • Store assortment or range with separate sections for fashion, hardgoods and dry grocery, refrigerated and freezer foods, fresh produce and merchandise ticketing (up to 38 questions)
  • Store technology in use (14 questions).

Analysis of the answers to the questions identifies suspect opportunities in the list below:

In-store systems excluding EPOS
Omni-channel retailing
Assortment planning and management
Merchandise/Category Management
Inventory management
Customer service
Advertising/promotions/signage
Visual merchandising standards
Store operations practices/housekeeping
Employee relations/HR management
Traffic generation
Sales associate training
Supply chain management
Loss prevention
Aging stock
ERP/merchandise management
EPOS/POS
Mobile
Loyalty/CRM
Digital wallet/passes
E-commerce

 

Benefits of Using This Tool

Professionals using this tool will identify more suspect opportunities from a store visit, generate more meaningful questions to ask key executives at the target account and hence identify more real opportunities, leading to ore account penetration and greater sales.

 

Time to Analyze One Store

About 1.5 to 2 hours in total excluding travel time and depending on the size of the store and the number of merchandise categories carried.

 

Price

The price for a single student is US $45, or UK £30 or EU €37 when bought separately.

Corporate licences are available.

 

Pre-Requisites Necessary

There are no pre-requisites necessary before using the tool but some retail knowledge or completion of the store operations, buying, category and merchandise management, e-commerce and omni-channel retailing modules of the Fundamentals of Retail suite would be beneficial.