Hello Shopify Users!
1) Regarding the Shopify profit margin calculator, does the margin percentile shown reflect the gross profit margin or the net profit margin?
2) Regarding profit margins, what is an acceptable profit margin for e-commerce businesses and is there a chart that is provided by Shopify to show acceptable profit margins by industry?
Thank you in advance!
Hi @TCA50 - the BeProfit - Profit Tracker app could be what you're looking for. You'll get a dashboard that lets you track and analyze your profits (gross profit and net profit) as well as all of your store's expenses including production, shipping, marketing costs, and more.
The dashboard lets you easily make sense of your data at a quick glance so you can discover what areas need optimizing in order to maximize your store's profit. Plus the app is free, so I truly believe you'll find that it brings a great deal of value to your store.
Full disclosure, I'm on the BeProfit team, so if you have any questions about the app please feel free to ask me - I'm happy to help.
Try the app here: https://apps.shopify.com/beprofit-profit-tracker
Thank you for reaching out and for the information on the app you provided. My apologies for the delay in responding; will definitely take a look at the app and its functionality. Based on the reviews I've read, it appears to be very beneficial as well as user-friendly to those who are currently on the platform. I will keep you posted and follow up with any questions. Stay well and be safe.