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07-07-2016
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windowshopping
 
Join Date: Oct 2009
Gender: femme
Posts: 7
Retail Math (Buying, Setting Prices, Software): How To
I run an ecommerce business for fashion accessories and I would like to expand my product line to apparel. What kind of software would I need to figure out the following numbers?
  • Cost of product (given the wholesale cost, freight, necessary packaging...)
  • How much to price items (given the cost of item, shipping, supplies needed to sell and ship item)
  • How much to charge for shipping (given the weight, different distances, countries...)
  • Profit, profit margins
  • How much would I lose if a percentage of orders are returned (which will help me figure out how to price item)
  • How much to BUY and WHEN

Also, since I run an ecommerce business, the software would need a strong shipping component: it would need to know costs of shipping services through the major carriers (USPS, UPS, FedEx)...

Being able to automatically pull in data from different platforms would be necessary too (for instance, the software would need to pull in most data from eCommerce platform... there may be one or two other sources from which it might need data... though I cannot think of it yet).

What software would I need for this? From what I've seen, Quickbooks is not a powerful retail math program but do correct me if I am wrong.

Any input given is very appreciated.

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08-07-2016
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BetteT's Avatar
 
Join Date: Jan 2003
Location: Palm Springs
Gender: femme
Posts: 21,893
I can't answer your question about which software to use for everything needed in a retail setting( buying/ordering, inventory, markups/ setting prices, shipping, profit and loss and probably various taxes by state, too). Hopefully there is such a system. and someone can advise you.


NOTE:

I thought that these related threads might be of interest to anyone who is the owner of or considering the opening of a retail operation:


Fashion Merchandising
(which is your main topic here ... getting the numbers right, pricing, ordering, etc.):
http://forums.thefashionspot.com/f90...ing-58558.html

Fashion Marketing (getting your name/site out there ... getting a customer base): http://forums.thefashionspot.com/f90...ing-37755.html


How to Promote your Online Business
http://forums.thefashionspot.com/f90...ess-78215.html


Retail Markups? What Should I Charge?
: http://forums.thefashionspot.com/f90...rge-45632.html

Opening & Operating a Retail Store / Boutique (Brick & Mortar or On-Line): http://forums.thefashionspot.com/f90...ine-33465.html

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