Take a Peek at Glew’s Newest Dashboard, Cost of Goods Sold (COGS)
What is Cost of Goods Sold (COGS)?
Cost of Goods Sold is the cost associated with making or buying a product.
Why is it an important metric for my ecommerce store?
Finding out the Cost of Goods Sold for each product ensures that your profit margins are large enough to keep your store in business. Learn more ways Cost of Goods Sold data affects your pricing strategy.
What importance does COGS have in Glew?
Without integrated Cost of Goods Sold data, store owners are making decisions with little understanding of an appropriate level of marketing spend relative to product profitability. Cost of Goods Sold data will help you move away from a generalized approach to product marketing, and towards an optimized level of advertising spend relative to individual product gross margin.
Where can I find COGS in my ecommerce platform?
COGS is not available in Shopify or WooCommerce; however Magento allows for cost data. Click here to see how to enable cost attributes for all products and set cost data in Magento. We strongly suggest keeping your data mirrored in both Glew and Magento.
Looking for cutting-edge ecommerce strategies? Download our free guide for “10 Tips for Moving Merchandise: Unfreezing Cold Products & Rocking Hot Products.”