Grocery Chain Pricing Audit
A company that has grown from a single store, into one of the largest employee-owned grocery chains in the United States, required the support of RGIS. The grocery chain has a total of 1,297 stores in the United States, with over 200,000 people working for the well-known supermarket.
Requirements
The grocery chain needed a solution to ensure correct pricing in stores and tasked RGIS with providing:
- National coverage.
- Pricing audits in existing stores.
- Pricing checks for new store openings.
- Comparison of stock on the shop floor with the in-store pricing file to identify and report any variances.
- Achieving at least a 70% pass rate for each store.
Solution
To address these requirements, the grocery chain partnered with RGIS for a comprehensive pricing audit and subsequently RGIS implemented the following strategies:
Existing Stores:
- Scheduled one experienced RGIS auditor per store to conduct the pricing audit.
- Scanned between 800-1,000 items per store.
- Keyed the price directly below the product or immediately to the left for easy verification.
- Validated the scanned pricing data against the in-store pricing file to ensure accuracy.
- Generated detailed reports highlighting any pricing variances and provided these to store management.
New Store Openings:
- Deployed six to eight experienced RGIS auditors per new store to ensure thorough pricing audits.
- Scanned every item in the store to establish baseline pricing accuracy.
- Checked prices against both warehouse and in-store pricing files.
- Generated comprehensive reports identifying any variances and provided these to the store management team.
Results
Outsourcing the pricing audit project to RGIS yielded significant benefits for the grocery chain:
- All pricing variances were identified and corrected, therefore ensuring pricing accuracy.
- The grocery chain achieved its goal of a 99% pricing accuracy guarantee.
- Routine audits are conducted bi-annually, with additional audits scheduled when required for stores that fail to meet the required standards.
By partnering with RGIS, the grocery chain maintained a consistent pricing accuracy across all locations, enhancing both operational efficiency and customer satisfaction. The detailed and systematic approach of RGIS auditors ensured that all pricing discrepancies were promptly addressed, leading to a more reliable and trustworthy pricing strategy.
For more information on how our pricing audit services can benefit your business, contact RGIS today.