In this episode of Add To Cart, we are joined by Jason Andrew, chartered accountant and corporate advisor.
Jason is focused on helping eCommerce businesses take their numbers seriously – and keep themselves accountable. As Jason says, “accounting is about accountability”. In this episode, Jason explains which metrics are the most important for eCommerce retailers, how to measure them effectively and highlights the areas where he sees most eCommerce businesses fall over.
Questions answered in this episode include…
- What is the most important financial metric for an eCommerce business?
- How do you work out unit pricing for your products factoring in all the eCommerce overheads?
- Does 3PL (3rd Party Logistics) make more financial sense than in-house fulfilment?
- What are the biggest mistakes he sees for businesses when discounting for Black Friday?
- How do you work out the financial impact of Customer Lifetime Value?