In this article, we’re going to tell you about what “retail audit” is.
Oh wait, but you already know about that. So we’re gonna go ahead and move on to telling you about Nestlé, yes Nestlé.
Did you know that Nestlé’s 2021 revenue is 90 billion dollars ? with a net profit of 10 billion dollars !, and yes ! 2021 is not even over yet ! Have you ever wondered how can brands sell these tremendous amounts of goods? Well, one of the biggest factors to reach those numbers is Retail Audit, the audit that you “know” all about. You see, Nestlé’s power is in its presence, by being in every corner.
The larger your shelf share is the more likely consumers will pick your products, now sometimes the problem is having a shelf share but not being able to maintain it, as retail workers tend to ignore, not being instructed, or by simply not noticing that 40% of your shelf share got reduced to 15%, for brand’s like Nestlé, it is nearly impossible for retailers to neglect its OSA (On Shelf Availability) as “Nestlé performs audit even up to twice a day for some retail spaces, as OSA auditing is a prioritized task by Nestlé’s market research experts.” Says Emily Hoffman Szurek, Director of Marketing & Brand Building at Nestlé.
So it’s safe to say that OSA auditing is a MUST if a brand wants to gain and maintain a consistently raising revenue, and a decent reputation & not fall into nonexistence like we have seen happen with certain brands.