In this week’s issue we cover Additional Expenses in Tips & Tricks, we talk about the importance of, and give you some tips for, the all-important Millennial demographic in Seller Insight, and in The World of Amazon we look at Amazon’s growth in the UK.
Have a great week!
TIPS & NEW STUFF
For those who haven’t tried it yet, we’re mentioning the new interface again this issue. You can try it out by switching here:
And you can switch back to the old them like so:
This will become the new face of ManageByStats, and we feel it greatly improves navigation and ease of use. As with any new thing, of course, it takes some getting used to, but we think you’ll find the flow of this updated interface groups the tools more logically and flows more naturally.
Its release made the news …
Did you know you can add additional, general business expenses in your MBS, and let the system use those expenses in profit calculations?
Additional Expenses is a relatively new feature, and while we announced it a few weeks ago, it’s worth mentioning again for anyone who might’ve missed it.
ManageByStats is not an accounting program, but we do provide as much information as possible for you to manage your business.
A big part of knowing the health of your business is knowing your Profit, and many things can go into that.
COGS (Cost of Goods Sold) and Inbound Shipping are two of the most vital bits of info used to determine profitability. There can be, however, and generally are, other, company expenses not covered by direct product costs. Expenses you’d like to factor against sales to more accurately determine profitability.
Additional Expenses is where you set these values.
Learn more about setting Additional Expenses …
Those born between 1980 and 2000 are a powerful group of consumers to tap into. Millennials have a ton of buying power, and are the most profitable demographic your business can reach.
If you want to reach this tech-savvy audience, here are a few tips to keep in mind …
Ecommerce sales in the United States are projected to surpass $504 billion, and millennials are historically a driving force in the ever-increasing growth of online shopping.
You should be maximizing the best way to reach them …
THE WORLD OF AMAZON
Amazon is set to continue experiencing growth within the UK market, which is expected to rise by 58.2% over the next five years to reach £15.7bn by 2024.
Amazon has experienced worldwide revenue growth of 161.7% between 2014 and 2018, with revenue reaching $232.9bn (£183.89bn) in 2018. Amazon’s market share will continue to grow in the UK, with online set to account for almost one-fifth of all UK online expenditure by 2024 …
A senior citizen called her husband during his drive home.
“Herman, I just heard on the news that there’s a car going the wrong way on Interstate 90. Please be careful!”
Herman replied, “It’s not just one car. There’s hundreds of them!”
I ran into an old school friend at the store today. He started showing off, talking about his well paid job and expensive sports cars.
Then he pulled out his phone and showed me a photo of his wife and said, “She’s beautiful, isn’t she?”
I said, “If you think she’s gorgeous, you should see my girlfriend.”
He said, “Why? Is she a stunner?”
“No,” I said. “She’s an optometrist.”
QUOTE OF THE WEEK
“Everything you’ve ever wanted is on the other side of fear.”
– George Addair
To your success,
Your ManageByStats Team
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