Profit insights
Do you track which products are most profitable or just total sales?
Tracking only total sales can be misleading. Two products can sell equally well while producing very different profits.
Why product-level insight matters
Understanding profitability by product helps you:
- Focus on high-margin items.
- Adjust pricing on underperformers.
- Decide what to bring to future events.
A practical approach
Many vendors:
- Track total sales for bookkeeping.
- Track product costs separately.
- Review profit trends periodically rather than obsessing daily.
You don’t need perfect precision—consistent estimates are usually enough to guide better decisions.