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Sell Less, Make More: Pricing and Profit Margin Tips for Retailers
Episode 259
Why Strong Profit Margins Matter More Than Sales in Your Product Business
Let’s be honest. Selling more doesn’t always mean you’re making more. In this episode of the Resilient Retail Game Plan podcast I share why strong profit margins are the foundation of a sustainable product business.
I’ll walk you through how to calculate your real margins how to spot the most common mistakes including ones I’ve seen big retailers make and what you can do to improve your pricing without sacrificing sales.
In this episode I cover:
- The difference between 'in' margin and 'out' margin
- How discounting impacts your bottom line
- How often I recommend reviewing your prices
- Why your top sellers might be hurting your profits
- My practical tips for protecting margin and growing sustainably
If you’ve ever looked at your sales numbers and thought "it still feels like I’m not earning enough" this is the episode for you.
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Useful links:
My freebie: http://www.resilientretailclub.com/freebie
My website: https://www.resilientretailclub.com/podcast
My Forbes page: https://www.forbes.com/sites/catherineerdly/
Timestamped summary:
00:00 Understanding Profit Margins
03:46 Why Profit Margins Are Key to Business Success
09:25 Calculate Costs for Profit Clarity
12:06 Minimise Discounts, Maximise Margins
15:31 Ideal Profit Margin Guidelines
17:47 Optimise Profits: Check Best Sellers
21:18 Monthly Margin Management Insights
Mentioned in this episode:
Stock doctor
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Published on 5 months, 1 week ago