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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