Hi everyone, super new to Shopify I just had a store built for me and put 50 products in, while the person did a great job I am very confused on how to enter the correct wholesale cost so I can keep accurate track of my margins. When bringing up my products in Oberlo via the product tab each one has a range of what the cost is ($1.00-$5.03), how do I know which to use?? On my Shopify store Admin portal in the Finances tab there is a button asking me to enter the cost for each item but I am at a loss of what to do. Can someone please help me?
Hi @NeedaBetterlife , thank you for visiting the Shopify Forum!
It’s totally normal to feel a bit confused at first, no worries!
The best way to do it is to visit the product page, in the “Pricing” Section you will see “Cost per item” under price. By filling that you will know your exact margin and profit.
I’m not sure about the system that Oberlo uses, but as a rule of thumb a 3X Markup is recommended for your retail price from the highest of those cost.
Hoped it helped
Best,
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