Point of Sale (POS) Glossary
Retail markup is the difference between an item’s wholesale cost to the merchant and its selling price. A retail markup may be quantified by a percentage amount. For example, if a merchant buys something for $5 and then sells it for $10, the profit is $5, which is a 100% markup.
The amount of retail markup is an important consideration when choosing inventory. However, sometimes the percentage amount may mean less to a merchant’s decision-making process. For instance, a very low dollar item may have a high percentage markup, such as candy purchased for a quarter that could sell for $1.00 but is subject to theft, breakage, or expiration.
A robust point of sale system can track the acquisition cost of items, sale prices, time in inventory, and more. A business could then use POS analytics to help determine what markup best fits an item.
It was great meeting all Adobe Magento industry professionals that attended Magento Meet Florida. The event was planned perfectly from sessions to solutions.
This year we decided to attend Meet Magento in Miami, FL from Feb 15th-16th, 2023. It's a great opportunity for us to visit with some of our existing customers, and future partners.