Blogs published on 21-01-2020

Find your actual margins

POS SOFTWARE

Often a supplier will tell you the gross margin on their products. Do not believe it? Do you think you should check?

After all, this is a key indicator  in your shop

One big problem here is that in the real world often, this margin they give varies. The other problem is that this margin depends on you getting their price.  Maybe in your area, you cannot get this price. Perhaps because you have too much stock you, you need to discount to get rid of some of it? I am sure you can add many reasons why the theoretical margin is not what you get, and it is easy to find out what is the actual margin you are getting.

 

Go to the menu

 

Now in sales select  the "Discounted Item Sales Summary."

Pick a period, I suggest the last 12 months and now check, I would recommend as a first attempt by the department

Now you will get a detailed report of where you are discounting both by quantity and price.

Knowing which products lines are your most profitable in your shop can lead you to actionable advice.

 

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