A recent report by the Federal Trade Commission revealed that almost five percent of all sales in retail stores are incorrect in terms of pricing. Almost three percent of these products are being sold at prices below what the consumer thinks he or she is actually paying. This is resulting in annual losses in the millions for some large chains. So how do you make sure your products are being sold for the correct prices? Price audits are often the answer.
At RitterAssociates, we have relationships with experienced mystery shoppers working across the country who can help you with your price audits. Professional field inspectors will evaluate the prices labeled on shelves and determine if that is indeed the price that is paid for the product. A compliance program can also assess whether or not the location is offering sale prices on specific items. Inspectors can randomly select products for a price audit or you can provide a list for the experienced shoppers to use during their visit. When you emphasize the importance of uniform pricing in your stores and back it up with price audits, you will increase sales that will lead to greater margins.
Price audits allow a professional, objective evaluator who is highly experienced to measure your location's prices, and return that data for immediate action. At RitterAssociates, we offer programs that can help you meet and exceed your industry standards.
For more information on the price audits available through RitterAssociates, call us today at 877-284-9785 or email firstname.lastname@example.org. We look forward to hearing from