Most retail dashboards are expensive ways to avoid making decisions. Oliver Spark learned this the hard way while scaling The White Company from £6 million to £50 million.

And it’s why he now runs Sweet Analytics, helping retailers focus on the numbers that actually grow businesses.

Oliver’s turning point came from a simple but brutal incentive scheme: grow the business 40% annually or don’t get paid. This forced him to understand something most retailers miss – the relationship between growth and profit isn’t automatic.

“I worked out pretty early on that I could only recruit about 75,000 customers, and I was still losing money per customer. But I understood I made money after nine months.”

That realisation led to what he calls “the magic spreadsheet” – customer metrics that predicted whether the business would hit its targets long before the P&L showed the results.

Here’s where Oliver gets contrarian. While everyone talks about retention being cheaper than acquisition, he argues acquisition is actually more important for growth:

“Depending on what you’re wanting to do, it’s very difficult to grow retention. If you’re a jewelry business, you might get 11% of people to come back in the following year. Even your best customers who absolutely love you, you might get 20%.”

The math is simple: most businesses have between 1.2 and 1.5 orders per customer per year. Moving that from 1.5 to 1.6 rarely moves the needle enough to drive real growth.

“How do you grow a business? You grow a business through acquisition.”

Oliver’s experience at The White Company proved what William Sonoma had already figured out: multi-channel customers spend significantly more.

But here’s the key insight: if your consumer is shopping in a channel, you need to be there. Even if it’s Amazon. Even if you think it “cheapens your brand.”

“If your consumer is there, your job as a retailer is to be there because that’s what consumers want.”

The trick? Ban the word “cannibalisation” from your vocabulary. Focus on total profit at the bottom line, not where each sale comes from.

Oliver doesn’t hate attribution – he hates how people approach it. Most want the easy answer to “how effective is my marketing” without understanding the complexity involved.

His advice: start with the fundamentals before worrying about attribution models.

“The only number you need to concentrate on is: are you acquiring new customers at your allowable cost of CAC? 80% of people I talk to don’t know what their allowable CAC is based on lifetime value.”

The platforms may lie, but they lie consistently. If Meta says your advertising is getting better, it is getting better. If they say it’s getting worse, it is getting worse. That’s often enough to make smart decisions.

Cut through everything else and focus on these metrics:

“Those are the two most important things because those drive your profit. If you know those two numbers in the context of your P&L, you can just spend your time looking at those two numbers.”

Stop obsessing over perfect attribution and dashboard complexity. Instead:

Most importantly: remember that retail growth comes from selling more stuff to more people more often.

Connect with Oliver on LinkedIn.

Learn more about Sweet Analytics at sweetanalytics.com.