With Endless Aisles’ Special Ordering, we’ve made it easy for you to get a transparent view of your wholesale costs and margin on orders, so you can be sure that you are making money with every order!
Your products’ wholesale cost will be visible at the checkout page when you place an order using Special Ordering. All you need to do is click on the “View Margin” toggle in the upper right corner of the screen, and you’ll immediately see your product cost breakdown on the bottom left corner of the page. The purpose of the margin toggle is to offer maximum transparency into the economics of the orders you process through Special Ordering.
The View Margin toggle gives you the opportunity to see how much the basket composition or a discount will affect your profitability, and whether or not you’ll want to charge the customer for shipping.
Similarly, you’ll have the opportunity to upsell customers in cases where their orders are not profitable. An example of this is if they have a basket that has just a small bag of food—adding a high margin item like a toy, collar, treats or bowl will minimally increase the shipping costs, but can easily bring the order to profitability.
If you want to show your customer the details of their order on your screen, but wish to keep your margin private, simply keep the toggle in the “off” position. This will allow you to go over the details of your customer’s order in person without having them see the wholesale cost.
You can always access a more comprehensive view of your wholesale costs for all of your products when you go to the “Admin” section of your dashboard and select “Price Control”. In this section, you will be able to see all the product details like retail price, wholesale price, margin, title, size and brand. Your catalog will reflect wholesale prices from both your Phillips account and any outside products you have uploaded into the catalog as well.
One final reminder: make sure to keep in mind when using the margin tools in Endless Aisles that you are not accidentally inputting markup information instead of margin calculations. There is a large difference between margin and markup; markup is the gross profit percentage of the cost price, or cost of goods sold, while margin is the gross profit percentage of the selling/retail price. Markup is always going to be a larger number compared to gross margin, so you risk thinking you are enjoying a larger profit than you are in reality if you use markup calculations for the margin tool.
With these tools, every retailer can find it easy to maintain robust margins with every order! For even more information about how you can make money with Endless Aisles, click here.