We ran a 30% off sale for our online store and our profit actually dropped

Turns out we didn't raise our prices first, so the discount just ate our margin. Has anyone else messed up a sale like this and how did you fix it?

3 comments

3 Comments

wendyg431d ago

My first year selling handmade candles, I did a 20% off weekend without checking my costs. Ended up basically working for free after materials and fees. The fix was boring but necessary, I built a simple spreadsheet that shows my true cost per item, including shipping supplies and platform fees. Now I never run a promotion without plugging the numbers in first to see the actual profit. It stopped me from making that same mistake again.

logan_young291d ago

Feel that pain. My first "big sale" had me paying customers to take my stuff. Spreadsheets are boring but they save you from working for EXPOSURE BUCKS.

claire_gibson1d ago

Hate that you had to learn the hard way too. Spreadsheets are a lifesaver even if they're boring as hell.