Differentiator

The metric Shopify doesn't show you

Contribution Margin = Gross Profit minus shipping, payment fees, transaction fees, and taxes. It's the money left after fulfilling each order — before overhead and ad spend. No competitor surfaces it.

What gets deducted in Layer 2

Gross Profit $21,730
− Shipping Cost −$3,200
− Transaction Fees −$483
− Payment Processing −$966
− Tax −$1,890
Contribution Margin $15,191
CM % 31.5%

Why it matters

Unit economics clarity

A positive CM means every order contributes to covering overhead. A negative CM means you lose money on every sale — regardless of ad spend.

Fulfillment cost visibility

CM isolates shipping and payment processing costs. If CM is low but gross margin is healthy, you have a fulfillment problem, not a pricing problem.

Better ad decisions

CM feeds into POAS (Profit on Ad Spend). Without CM, POAS can't exist — and without POAS, you're optimizing ads blindly.

The formula

Revenue $247
− COGS −$112
Gross Profit $135
− Shipping −$18
− Payment Fees −$5.93
− Transaction Fees −$9.07
− Tax −$4.93
Contribution Margin $97
CM % 39.3%
P&L Waterfall
Revenue to Net Profit
Net Margin
27.1%
Costs
Margins
CM1
$31.9K
66.0%
CM2
$24.4K
50.5%
CM3
$16.3K
33.7%
CM4
$13.1K
27.1%

Why Gross Profit isn't enough

Two products with very different gross margins can have completely different contribution margins once you account for fulfillment costs:

Product A

Selling Price$100
COGS$40
Gross Margin60%
Shipping−$15
Payment Fees−$8
CM %32%

Product B

Selling Price$100
COGS$55
Gross Margin45%
Shipping−$5
Payment Fees−$3
CM %37%

Product B is more profitable to fulfill (37% CM vs 32%) even though it has lower gross margin (45% vs 60%)

Decisions CM enables

Should I offer free shipping?

Check contribution margin with/without free shipping. If CM drops below 15%, you're funding shipping out of overhead. Not sustainable long-term.

Is this discount worth it?

Compare CM of discounted vs full-price orders. A 20% discount might reduce CM from 40% to 25%. Scale it only if acquisition value justifies it.

Which country is most profitable?

Shipping costs vary wildly by destination. NetNet shows CM by country. Maybe your US market is 35% CM but EU is only 18%.

Should I scale this product?

Only scale products with positive CM that covers your fixed overhead (salaries, rent, etc.). Negative CM products drain cash faster as you grow.

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