Product costs explained
Lifetimely automatically loads all the products from Shopify, so there's no need for a manual import. Products will show up in the "Product costs" page, where product cost data is also managed.
The app first loads all the order information and data for products from Shopify that have sales, so you see might some products missing if you just installed the app.
There are fours ways to manage product costs:
- Use Shopify “cost per item” -field
- Setting product costs in the app
- Import via CSV
- Default sales margin
Option 1: Shopify's "Cost per item
Nowadays Shopify has a "Cost per item" field available for every product, which you can find from the product pricing section:
Lifetimely automatically loads this data and it will show up in the Product cost data -page, where you can also find products that don't have cost data associated with them. So if you're already using this field for all your products, there's no need for further action.
But if you've got cost data just for some of your products, head to the "Default sales margin" section below.
Option 2: Setting product costs in the app
Another option is to control all the product costs inside Lifetimely, using the "Lifetimely product cost" -field. This value has a priority over the Shopify's cost per item value, meaning that if a product has both values, Lifetimely will use the "Lifetimely product cost" -field.
Option 3: CSV import
Instead of manually adding costs in the app for every product, you can also do a mass import using a CSV-file.
The file needs to have just two columns: "SKU" and "Cost". When uploading the file, the app will ask which column contains SKU's and which contains the cost data.
Please note: You would need to wait for the products to be fully loaded from Shopify, before doing a CSV-import.
Option 4: Default sales margin
If you're pricing products with a fixed markup percentage, you can just use the "Default sales margin" setting. This value is calculated from the products price with taxes.
So if you've got a product that is sold at $10 price (with taxes) and your markup is 2$, your sales margin is 20%.
The default sales margin is also handy if just some of your products are missing cost data as it only applies to products that don't have costs associated with them.
We highly recommend all users to set a default sales margin value just as a backup.