Uncategorized Business Finance eCommerce Metrics TrueProfit's Announcement Product Updates Partners sex chat wife finder mail order bride dj guide mail order brides Single Women For Marriage dating japanese women best dating sites asian dating online Mail Order Wives Best Places To Meet Women Best Place To Meet Women meet thai women find a wife online Marriage Abroad of Us Citizens top chinese dating sites best online dating sites Internet Bride russian brides Date Ukrainian Women Ukrainische Frauen Frauen Aus Dem Osten Katalog Best International Dating Sites legit mail order brides Top AI Solutions Bookkeeping IT Образование asian dating sugar daddy websites latin mail order bride cost dating critic online brides How To Solve Relationship Problems Without Breaking Up Форекс обучение Dating Foreign Women Software development vulkan vegas Gemany NLP Programming Финтех meet colombian singles polscy bukmacherzy latin women for marriage asian mail order brides vulkan vegas German IT Вакансії 1xbet Az Sober living vulkan vegas PL PinUP Brazil 1xbet Kazahstan Mostbet India mostbet uz Mostbet Turkey singles over 40 wife dating online interracial dating online filipino mail order brides international dating chinese dating sites legalni bukmacherzy polish women India Mostbet Mostbet Azerbaycan bukmacherzy legalni gg bet online dating 1xbet Azerbajan women for marriage latin brides find mail order brides online find a bride asian brides sugar dating dating sites for 40 years olds Education latin mail order brides singles dating sites mail order bride services online dating sites dating apps for 40 years olds latin girls for marriage latinwomen features 1win Azerbajany dating women online dating reviews meal delivery services best whiskey mail order wife japanese dating apps polish women dating mail order brides pricing japanese wife finder best dating reviews top asian dating sites single latin women Azerbajany Mostbet japanese wife dating filipino mail order brides cost free interracial dating sites thai mail order wives top dating sites in usa eastern european wives filipino brides swedish mail order brides costa rican women thai mail order brides japanese women meet women women latin dating online real mail order brides best chinese dating sites blog dating chinese women japanese brides for sale find a bride online free international dating chinese dating apps japanese mail order brides asian wife finder best senior dating sites meet women online best black dating sites asian wife for sale Pin Up Peru ! Без рубрики

Why Keeping Track of COGS Is Painful for Shopify Stores

Feb 14, 2019 | 2 min read | Leave a comment

To succeed with a business, you definitely need to know your profitability. But first, you need to track your Cost of goods sold (COGS), which takes a large proportion of your budget.

This task seems easy at first, because the prices are there on AliExpress. No rocket science, right?

The truth is: it’s not easy at all.

The problem

COGS can change weekly due sales promotion, negotiation or rising demand. The prices you see on AliExpress today may be different from yesterday, and will probably fluctuate tomorrow. Now multiply that by 50 products. Welcome to cost management!

Many dropshippers simply ignore this fact and settle on an approximate estimation. That could work when you’ve just started, but will cost you much more in the long run. Say you has 3000 orders/month, an increase of $1.5 COGS would cost you an extra $4500 and you may not even notice!

cogs fluctuation
Price history of an AliExpress product (screenshot using Ali Hunter)

Another problem comes with shipping costs. In the dropshipping industry, it’s normal for shipping to cost more that the product itself. So an insight into shipping costs is fundamental for your business. Unfortunately, an accurate number is so hard to get, as neither AliExpress nor Oberlo/Dropified provides a report on shipping costs. Especially if you’re selling worldwide, fees vary widely across different countries.

With all this variability, knowing COGS may be harder than you thought.

The solution

Manual analysis is possible, though, as we discussed in this article.

But the ultimate problem remains. You don’t need to know COGS at the end of the month. You need to track it in real time. That’s when important decisions are made.

For example, your COGS suddenly rises by 10%. Realizing this, you can instantly adjust your pricing or cut down on the discounts threatening to eat into your profit.

True Profit app was born to help you do this effortlessly.

It automatically pulls and updates data from Shopify, AliExpress, Facebook Ads and Google AdWords to give you the real picture of not only COGS, but also your profitability. You get to see Profit, COGS, Shipping cost, Processing fees, Conversion rate and other major metrics in real time.

Try our 14-day FREE TRIAL.

Related posts




Leave a Reply

Your email address will not be published. Required fields are marked *